Source: Google

Megvii Inc. a Chinese developer is said to be raising $600 million from investors including Alibaba. This AI startup is a developer of facial recognition system Face ++. Alibaba is investing funds in China’s largest AI startups hoping to implement the same into its retail network. It is said to apply such technology in unmanned stores. While the same has been a key attraction to the government authorities who want to be able to detect crimes and threats. The other investors include Foxconn Technology Group, CCB International Holdings Ltd, Qiming Venture Partners and Sinovation Ventures.

Source: Bloomberg

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