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SenseTimei

Hong Kong-based SenseTime is the world's most valuable AI start-up specializing in facial and image-recognition technology.

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  • Zhihu will immediately start its internal test of the function called Sousuo Juhe, which translates to ‘search aggregation’ in English
  • The firm uses a large language model co-developed with Beijing-based AI start-up ModelBest, which unveiled its own ChatGPT-like chatbot called Luca
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Chinese AI company SenseTime unveiled its answer to ChatGPT on Monday, jumping onto the generative AI bandwagon as mainland firms race to commercialise the so-called large language model.

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Speculation about retrenchment of workers in China’s AI industry reflects the uncertainties brought by US trade sanctions and further restrictions imposed by Washington.

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Andrew Chi-Chih Yao, one of AI’s most influential figures, has exerted a profound impact on the country’s technology pioneers, who have gone on to start multibillion-dollar start-ups.

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What happened with SenseTime reflects how growing animosity between the US and China is catching Hong Kong in the crossfire between the world’s two largest economies.

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The tumult at SenseTime Group, a Chinese artificial intelligence (AI) software maker, showed no sign of letting up, as traders rushed to the exit to pre-empt a possible dumping of stock by corporate insiders.

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SenseTime’s latest initiative enables it to compete in China’s nascent automated industry inspection market, which is led by major tech firms Baidu, Huawei and Alibaba.

Oppo, Ping An, SenseTime and Huawei also ranked among the world’s top filers of virtual reality and augmented reality patent applications, as interest in the metaverse continues to grow.

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SenseTime, China’s AI champion, jumped as much as 23 per cent, paying off for investors who bet on its IPO despite ongoing pressure from US sanctions. The stock ended the day with a 7.3 per cent gain.

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The quick relaunch and the oversubscription proves the resilience of Hong Kong’s IPO market when it’s faced with US sanctions, Hong Kong’s brokers said.

The US has added eight more Chinese companies, including DJI Technology and artificial intelligence giant Megvii, to an investment blacklist for alleged involvement in the surveillance of Muslim minorities in Xinjiang.

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The resumption marks a quick turnaround in the fundraising plan by China’s largest AI firm, which has become the biggest corporate casualty yet of the Uygur Forced Labor Protection Act.

The halt made SenseTime, founded by a group of Chinese University of Hong Kong (CUHK) professors, the biggest corporate casualty yet of the Uyghur Forced Labor Prevention Act, which passed last week in the US House of Representatives.

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The White House has placed SenseTime on an investment blacklist over alleged human rights abuses in Xinjiang after the AI company cut its IPO size by more than half earlier this week.

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Three Chinese tech companies are poised to float their shares in the Hong Kong stock exchange after Beijing proposed new rules requiring cybersecurity reviews for certain offshore IPOs.

China’s carmakers are rapidly closing the technology gap with global rivals, as every new model released is smarter, cleaner and packs more intelligent features than ever before.

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China’s AI industry may triple to 453.26 billion yuan in value by 2025 from last year, while a broader AI-driven industry may be as large as 1.66 trillion yuan, which underscores the strategic importance of the field in the Made in China 2025 industrial master plan.

Business is booming for SenseTime amid the wide adoption of facial recognition in China’s subways and its work with 127 cities to analyse everything from traffic to residential complex security.

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