World’s Most Valuable AI Startup is Part of “World’s Biggest System of Surveillance"

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Bloomberg News
April 8, 2018, 7:00 PM MDT

• It becomes the world’s richest-valued private AI startup
  
• The company drives China’s ambition to dominate global AI
  

"With the deal, SenseTime has doubled its valuation in a few months. Backed by Qualcomm Inc., it underscores its status as one of a crop of homegrown firms spearheading Beijing’s ambition to become the leader in AI by 2030. And it’s a contributor to the world’s biggest system of surveillance: if you’ve ever been photographed with a Chinese-made phone or walked the streets of a Chinese city, chances are your face has been digitally crunched by SenseTime software built into more than 100 million mobile devices."

"The latest financing will bankroll investments in parallel fields such as autonomous driving and augmented reality, cover the growing cost of AI talent and shore up its computing power. It’s developing a service code-named “Viper” to parse data from thousands of live camera feeds -- a platform it hopes will prove invaluable in mass surveillance. And it’s already in talks to raise another round of funds and targeting a valuation of more than $4.5 billion, according to people familiar with the matter."


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https://www.bloomberg.com/news/articles/2018-04-09/sensetime-snags-alibaba-funding-at-a-record-3-billion-valuation

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