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China Artificial Intelligence Firm iFlytek Plans $150M Fund To Support Startups

Chinese artificial intelligence company, iFlytek Co Ltd., best known for its voice-recognition technology, will set up a RMB1.024 billion (US$150 million) fund to support an ecosystem of software and hardware startups across China. The move is part of the company’s push to accelerate the use of AI in consumer electronics, healthcare and other industries. The announcement, made at the company’s first Developer Festival at its Hefei headquarter on October 24, and confirmed via email to China Money Network, comes after …

Ken Xu Of Gobi Partners Sees Trillion-Dollar Market In China’s 2B Artificial Intelligence Sector

In this episode of China Money Podcast, Gobi Partners managing partner Ken Xu speaks to our host Nina Xiang. Xu discusses what he sees as the next technology frontier markets in China, and how Gobi is investing in the artificial intelligence, Internet of Things (IoT) and new infrastructure-themed industries.   You can read a Q&A and watch a short video of the interview. Don’t forget to subscribe to China Money Podcast for free in the iTunes store, or subscribe to …

China May Own More Artificial Intelligence Patents Than US By Year-End

China and the United States are both artificial intelligence superpowers. But China may soon be the clear leader, at least in terms of AI patents filed. The U.S. currently has more, with 35,508 AI patents, versus 34,345 for China. But as Chinese companies and scientists are filing AI patents at a faster pace, the nation is likely to hold more AI patents than the U.S. by year end, according to a report by Sequoia Capital China and Zhen Fund.

Chinese Machine Vision Firm Yi+ Raises $14M Round

Yi+, a Chinese artificial intelligence start-up developing machine vision technology for content marketing, has raised a RMB100 million (US$14 million) series B round from Haitong Securities, financial services company Bairongjun Group and The Bank of Beijing.

Baidu, Beijing Airport Launch Facial Recognition For Passenger Check-In

Following in the footsteps of the U.K. and U.S., China is applying artificial intelligence technology to airport security. Internet giant Baidu Inc. yesterday singed a strategic cooperation agreement with Beijing Capital International Airport to jointly develop a facial recognition system for verifying the identity of passengers.

Tencent Capitalizes On Massive User Data To Achieve AI Dominance

Chinese Internet giant Tencent Holdings Ltd. has a reputation for cautiously following in the footsteps of others in new businesses segments, then quietly outsmarting the first-movers. The company looks to be using the same strategy in the field of artificial intelligence (AI). So while rival Baidu Inc. has proclaimed itself an AI company, along with numerous other Chinese companies, Tencent is working behind the scenes to become a leader in the field.

Chinese IoT Artificial Intelligence Platform Unisound Gains $45M Strategic Investment

Chinese artificial intelligence (AI) firm Unisound says it has received RMB300 million (US$45 million) from a strategic investor who besides money will provide the company with massive amount of data to help it improve its capabilities. A company representative did not disclose the identity of the investors and declined to provide more details about the deal when contacted by China Money Network.

China To Challenge US Leadership In AI? Not So Fast

There have been a lot of discussions on China’s rising prowess in artificial intelligence, on how the Chinese are catching up or even surpassing the U.S. in leading the world’s most important future technology trend. The concerns are so real that the U.S. government is reportedly looking to strengthen scrutiny of Chinese investments in American AI companies.

Alibaba Partners With Macau To Drive Smart City Projects

Chinese Internet giant Alibaba Group Holding Ltd. and the Government of the Macau Special Administrative Region have entered into a strategic partnership framework agreement, under which Alibaba will support Macau’s implementation of smart city initiatives using cloud computing technologies.

Baidu Partners With Shanxi Province To Integrate AI With City Management

Baidu Inc., China’s largest search engine, has signed an agreement with the government of Shanxi province to integrate artificial intelligence into city management. The project, designed to create “smart cities” and help the Northern province upgrade its industrial base, is another step in Baidu’s campaign to position itself as an artificial intelligence company.