GLOBAL POLICE STATE: Chinese government developing AI that can recognize anyone, anywhere
A computer system that can track and identify any face anywhere may
sound like science fiction, but, in China, two such companies are
barreling ahead at making such technology an everyday reality. The two
startups, SenseTime and Megvii, are developing competing facial
recognition platforms powered by artificial intelligence. SenseTime
became the world’s highest-valued AI startup after raising $600 million
in April at a valuation of $4.5 billion.
The company raised another $620 million last month. Megvii isn’t far
behind. It raised $460 million last November. While the valuation hasn’t
been disclosed, it’s likely that it is close to or tops $2 billion. Two
smaller Chinese companies include Yitu Technology, which raised $380
million last year, and DeepGlint. The eye-popping valuations shouldn’t
be surprising to anyone paying attention. Last year, the Chinese
government unveiled a plan to make the country the world leader in AI
and to develop an AI industry worth $150 billion by 2030.
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