Tag: Cloudwalk

China’s AI unicorns aim to reduce reliance on government surveillance business | The Star

“When Chinese AI unicorns SenseTime, Megvii and Yitu were sanctioned by the US in October last year, it looked like a major threat to the survival of their business.

Yet the supply chain impact of being added to Washington’s Entity List, which restricted their access to American products, has been less significant than originally feared. In fact, it was quickly overshadowed by the need to diversify a business model overly reliant on government orders for surveillance cameras in a market that has since become saturated.”

Read the full article @ The Star:

China’s AI unicorns aim to reduce reliance on government surveillance business
SenseTime and Megvii, the most valuable Chinese AI unicorns worth US$7.5bil and US$4bil respectively, were added to the US Entity List in October last year. In 2019, surveillance was the biggest single end-use for AI in China, accounting for 53.8% of all AI-powered applications.

Meet China’s 5 biggest AI companies | World Economic Forum

“Two-thirds of global investment in artificial intelligence is poring in to China, which helped the AI industry there grow 67% last year alone.

China Money Network, a leading source of information on China’s technology sector, recently announced its top 50 AI companies to watch. They included 14 “unicorns” – start-ups with a valuation of $1 billion or more – worth $40.5 billion in total.

China’s government, heavily backing many of these companies, is hoping AI will be worth 1 trillion yuan ($146 billion) to the country by 2030. Here are the top 5 Chinese AI powerhouses, in order of valuation as detailed in the report:”

  1. DJI
  2. Ubtech Robotics
  3. SenseTime
  4. Cambricon
  5. Cloudwalk
The top 5 Chinese AI companies
The Chinese government is hoping the mushrooming AI sector will be worth $1 trillion yuan by 2030. Here are the five companies currently leading the field.