Facial recognition provider SenseTime becomes the most funded AI startup

Chinese facial recognition provider SenseTime has become the world’s most funded AI startup following a $600 million funding round. The latest round of funding was led by Alibaba Group Holdings to extend SenseTime’s existing one billion dollar valuation. Other investors which took part in the series-C fundraising include Temasek Holdings and Suning.Com Co Ltd. While the company is yet to disclose its current valuation, Bloomberg reported it’s over $3 billion. Joe Tsai, Alibaba...

Google CEO is (unsurprisingly) impressed with AI in China

Sundar Pichai, CEO of Google, has expressed how impressed he is with AI in China during a forum attended by senior government officials and leading executives in Beijing. “China is already playing a big part in how AI will shape our futures," said Pichai at the annual China Development Forum in Beijing. "When we build together, we get to better ideas faster." Google is known for the vast amount of data it collects, and the powerful services having access to such large pools of information...

Emtech China: Warnings of AI causing job losses continue

This year’s EmTech China conference in Beijing was filled with exciting insights at where AI is heading, but it also carried the usual warnings of potential job losses. The three-day event is organised by MIT Technology Review and features some of the world’s most talented experts. In the past, we’ve heard from the likes of Elon Musk saying AI will mean a ‘universal basic income’ will become necessary as more jobs become automated. Others counter this argument by claiming AI...

‘Robot Ethics Charter’ drawn up — as report claims US at risk of losing AI arms race

ai arms race robot ethics charter

An ethics charter has been drawn up to “regulate the relationship between humans and robots” as a report claims the US is at risk of losing the AI arms race. Starting with the charter, Andrey Neznamov — head of Russian robot research centre, Robopravo — drew it up in response to fears machines possessing AI could lead to the "destruction of humanity" if they’re not sufficiently regulated. To some, including Facebook founder Mark Zuckerberg, these fears are overblown and...

Musk warns ‘it begins’ as Putin claims the AI-leading nation rules the world

Elon Musk has issued a warning as Russian president Vladimir Putin claims the nation which leads in AI “will become the ruler of the world.” Musk, co-chairman of OpenAI, has long warned of dire consequences for mishandling AI development. OpenAI itself is a non-profit research company that aims to champion promoting and developing friendly AI in a way to benefit humanity. As with any major technology advancement, however, there will undoubtedly be those which aim to weaponise it and...

Goldman Sachs: China is catching up to the U.S. in AI

The pace of AI innovation in China is putting it on track to catch up to the US, according to a report from Goldman Sachs. Goldman Sachs, a leading global investment firm, highlights China’s resources and ambitious plans for an intelligent economy based on AI. The report is titled "China's Rise in Artificial Intelligence” and says both companies and the Chinese government are putting their weight behind AI. In fact, back in July, the Chinese government announced it will increase...