Alibaba’s newest initiative aims to make Hong Kong a global AI hub


Alibaba’s newest initiative aims to make Hong Kong a global AI hub


Alibaba is teaming up with sensitive,  the world’s highest-valued AI startup, to launch a not-for-profit AI research laboratory in Hong Kong in an exceedingly bid to create town a worldwide hub for AI.Alibaba, that is SenseTime’s largest single capitalist because of a recent $600 million spherical at a valuation of $4.5 billion, is providing finance for the “HKAI Lab” through its Hong Kong entrepreneurship fund. SenseTime aforesaid it'll contribute too, though the overall quantity of capital backing the initiative hasn’t been disclosed.


The partners of the project — that conjointly includes the Hong Kong Science and Technology Parks Corporation (HKSTP) — aforesaid the aim is to “advance the frontiers of AI,” which has to serve to startups commercialize their technology, develop concepts and promote data sharing within the AI field.


That’s all fairly general — Alibaba features a data of politicking through technology investment schemes in larger China and geographic area — however, one tangible project could be a six-month accelerator program planned for Gregorian calendar month which is able to welcome AI startups to the HKAI research laboratory. Alibaba’s Cloud business and HKSTP area unit among the backers World Health Organization can facilitate the program supply early-stage funding to prospering candidates, whereas Alibaba and sensitive can facilitate with mentoring and development throughout the program.“Alibaba sees AI as a basic technology which will create a distinction to society,” Alibaba government chair Joe Tsai aforesaid in an exceeding statement. “We envision the Hong Kong AI research laboratory to be associate degree open platform wherever researchers, startups and trade participants will collaborate and build a culture of innovation.”


China and therefore the U.S. area unit the 2 biggest players within the international AI battle, this project alone won’t divert that however, it might awaken potential in Hong Kong.


Alibaba maintains tight relationships in Hong Kong, significantly through the fund that is around $130 million in size. whereas the program is apparently aimed toward promoting startups in Hong Kong, significantly around AI, it's conjointly guaranteed to impress Alibaba’s ties to Hong Kong’s institution and school community. Hong Kong is growing as a destination for startups, as a variety of the city-state’s key players mentioned at a TechCrunch China event last year, however still the difficulty of talent could be a key one and this initiative may gain advantage Hong Kong therein respect.

Alibaba’s newest initiative aims to make Hong Kong a global AI hub  Alibaba’s newest initiative aims to make Hong Kong a global AI hub Reviewed by ali on May 21, 2018 Rating: 5

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