PETALING JAYA: G3 Global Bhd is making a big push into artificial intelligence (AI) after securing a partnership with one of the world’s top AI firms.
G3 said in a statement it had inked a collaborative agreement with SenseTime Group Ltd to “develop new AI products and solutions while securing strategic opportunities with key industry players to spur digital innovations in Malaysia”.
SenseTime was recently described by Bloomberg as the world’s most valuable AI start-up after it secured a valuation of US$4.5bil.
The agreement was signed by Dr Xu Li, the group CEO of SenseTime, and Puan Chan Cheong, a director of G3.
G3 said that through the collaboration, it would promote, manage and execute all business development activities for the products and technologies of SenseTime within Malaysia.
“SenseTime, on the other hand, would provide its industry expertise and knowledge which includes technology and technical support, products and technology training and periodic updates on its AI technologies to G3,” the statement stated.
G3’s Puan said: “Today, AI has changed the way we live and the way we do our business. AI is now used to analyse and understand users’ behaviour.
“We are indeed excited to collaborate and partner with SenseTime, as we can leverage on each other’s strengths to develop AI-based technologies which add value to the digital offerings that we currently have.”
Incorporated in 2014, SenseTime focuses on innovative computer vision, deep learning and AI for text, vehicle and facial recognition, SenseTime has collaborated with many strategic partners and clients, serving about 400 companies and government agencies including Honda, UnionPay, Xiaomi, OPPO and Weibo.
The statement said G3 and SenseTime would embark on some key strategic opportunities in areas like national safety, security, surveillance, immigration, border security system, Know Your Customer (KYC), access control, smart mobility and connected vehicles.
G3 and SenseTime will also be working on developing curriculum for AI courses to be offered in Malaysia.
Bloomberg recently reported that SenseTime planned to sustain growth by expanding globally and diving deeper into arenas from autonomous cars to healthcare. The report also said that SenseTime, which counts Alibaba Group as one of its investors, is looking to raise another US$2bil in fresh funding this year.
It raised more than US$1.2bil last year, including a round announced in May that valued it at more than US$4.5bil. The funding came from firms including Fidelity International, Silver Lake Partners and Hopu Capital.