ASIAdocument.write(“” + m[today.getMonth()+1]+ ” “+ today.getDate()+”, ” + theYear + ” “);HOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperChina Daily Global PDFChina Daily Global E-paperBusiness /TechnologyEconomyPolicy WatchChina DataCompaniesMarketsIndustriesViewMotoringTechGreen ChinaChina ExpoiFLYTEK to boost AI investmentsBy Ma Si(China Daily)Updated:2016-09-06 08:29Comments Print Mail Large Medium SmallJiajia (left), a robot developed by the University of Science and Technology of China in Hefei, Anhui province, meets reporters at the campus of the school. [Photo/Xinhua]Voice recognition firm aims to accelerate the use of its artificial intelligence technologies
Chinese voice recognition firm iFLYTEK Co Ltd said it will step up overseas investments as the firm aims to accelerate the application of its artificial intelligence technologies in cars, e-learning and mobile internet industries.
Liu Qingfeng, chairman of iFLYTEK, said the company has set up a fund to invest into global startups and later-stage firms, as artificial intelligence, or AI, is widely seen as a core driving force over the next five to 10 years.
“The first-phase of the fund will be 1 billion yuan ($150 million) and we have already acquired a Japanese firm which uses digital technology to promote English learning,” Liu said in an exclusive interview with China Daily on the sidelines of B20 summit which was held in Hangzhou, capital of Zhejiang province, on Saturday.
Founded in 1999, iFLYTEK is the Chinese counterpart of the US firm Nuance Communications Inc and Siri, the virtual voice assistant developed by Apple Inc.
iFLYTEKs investment plan came after AI-powered AlphaGo defeated a world champion player of the ancient strategy game Go earlier this year. The victory marked a breakthrough in the infant sector, which both Chinese and foreign internet giants such as Baidu Inc and Google Inc are pouring money in for future growth.
“One of our focuses will be the automotive industry where hands are bound to steering wheels and voice control is needed the most,” Liu said, adding that the firms technology has been applied to more than 30 car models.
In 2016, iFLYTEK prevailed in the Winograd Schema Challenge, a well-recognized global competition to test machine intelligence. Currently, about 160,000 developers are using the firms voice cloud platform to work on different applications, more than doubling last years figure.
To expand its overseas presence, the firm, based in Hefei, capital of east Chinas Anhui province, is also working on a voice cloud platform to achieve automatic translation of Chinese to English, the Uygur language and other languages which are widely used in Central Asia.
Tan Tieniu, a member of the Chinese Academy of Sciences, said the global AI market hit $127 billion in 2015 and it is expected to exceed $165 billion this year.
“But it is important to remain calm as investments flood to the AI sector and more efforts are needed to develop core technology,” Tan said.
Zhao Ziming, an analyst at Analysys International in Beijing, said: “As we enter into the internet of things era where refrigerators, desks, curtains and other things are all connected with the internet, voice-based control will have big potential.”0Related StoriesChinas Siri-like tech maker iFlytek profit surges in first halfExperts call for more steps to develop AI technologyAI to reserve business potential in Chinese marketArtificial Intelligence in real livesChina unveils three-year program for artificial intelligence growthPhotoHangzhou summit in motionSix firsts at this years G20 SummitLincoln starts pre-sales of ContinentalFive proposals to shore up global economic growth: XiItalian PM visits Xixi park of Alibaba GroupB20 summit concludes in HangzhouChina Economy By NumbersChina Economy by Numbers – Dec China Economy by Numbers – Nov NewsmakerCEO Q&A – Ton Büchner of AkzoNobel Chinese buyers circle soccer super agent Stellar GroupMost ViewedTodays Top NewsTech tycoons support Xis innovation visioniFLYTEK to boost AI investmentsScholars, business leaders dissect Xis speechesAlibaba chief sees tasty opportunities in fast foodGerman expert: Infrastructure key for growthTechnology advances leave stamp on G20High-level guests head out on town for some shoppingHangzhou may be impetus for sustainable developmentHot TopicsFiat SpA Peugeot SA Taxi app Internet finance Housing price Disneyland 12306.cn WeChatEditors PicksTop 10 saving countries in the world Top 5 smart home applications attracting Chinese consumers Top 10 least affordable provincial-level regions in China Top 10 FDI sources for Chinese mainland in Jan-April Specials2016 Summer DavosWorld Robot Conference 2015Made in China – fight against counterfeit goods…| About China Daily | Advertise on Site | Contact Us | Job Offer | Expat Employment |Copyright 1995 -var oTime = new Date();
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