Panoramic cameras are equipped on a smart lamppost in the Kai Tak area of Hong Kong, China. Hong Kong will install about 400 multi-functional smart lampposts in a pilot scheme to enhance the collection of real-time city data and support 5G mobile network implementation, according to the government's website. — Bloomberg
Megvii Technology Ltd, backed by Alibaba Group Holding Ltd, is testing investors’ appetite for security powered by artificial intelligence just as concerns about facial recognition surface in the protests rocking Hong Kong.
The seven-year-old startup filed for a Hong Kong initial public offering on Sunday and is said to be targeting as much as US$1bil (RM4.20bil). The filing shed light on its stunning growth driven primarily by products that help government agencies and other clients improve public safety and optimise traffic management, which it labeled "city IoT solutions”. That business accounted for 73% of its revenues in the first half of the year, the draft prospectus showed.
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