“Formerly known as Face++ before rebranding in January 2019, Megvii has transformed itself from a facial recognition algorithm provider into a fully-fledged artificial intelligence of things (AloT) service provider For personal IoT, Megvii technologies enable over 3.5 billion instances of facial identification and payments processes every day and its algorithms cover 70 per cent of…
Tag: china
United States should make a massive investment in AI, top Senate Democrat says
“The top Democrat in the U.S. Senate wants the government to create a new agency that would invest an additional $100 billion over 5 years on basic research in artificial intelligence (AI).” https://www.sciencemag.org/news/2019/11/united-states-should-make-massive-investment-ai-top-senate-democrat-says
China’s Alibaba, JD report booming Singles Day sales
“Chinese e-commerce giants Alibaba and JD.com reported nearly $60 billion in sales Monday part way through Singles Day Alibaba said sales by merchants on its platforms totaled 221.6 billion yuan ($31.7 billion) by 6 p.m., passing last year’s total of $30.8 billion. Online sales of goods rose 16.8% over a year earlier in the first…
It’s Time for Alibaba to Slay the Monster Jack Ma Created
“The Nov. 11 annual event, which has been going for a decade, started as a marketing gimmick for an upstart e-commerce company looking to draw a crowd. And it did. GMV (gross merchandise value) grew more than 4,000 times between 2009 and 2018, hitting $30.8 billion last year Alibaba doesn’t want to be just an…
Chinese ecommerce startup pockets $100M
“Club Factory, an AI-based ecommerce company that sells clothing, accessories, electronics and other items, has raised a $100 million round. The Series D was led by Qiming Venture Partners, with participation from Bertelsmann, IDG Capital and others, per TechCrunch. The Chinese business reportedly plans to use the funding to expand its operations in India.” https://pitchbook.com/newsletter/chinese-ecommerce-startup-pockets-100m…