Press Releases
 
Chinese AI Pioneer YITU announces plans to establish R&D Hub in Singapore

Singapore will be the gateway for YITU to expand to the rest of the world

SHANGHAI, 14 November 2017 -- (ACN Newswire) -- YITU Technology, a Chinese pioneer in artificial intelligence (AI), announced its plans to set up a Research & Development (R&D) Hub in Singapore, bolstering Singapore's AI applications in the area of security and finance. The discussion was held at a visit to YITU's Shanghai headquarters recently, represented by Singapore officials from the Ministry of Home Affairs (MHA) and Singapore's Economic Development Board (EDB), where they witnessed its award-winning facial recognition technologies.

With much potential waiting to be harvested, AI is one of the key frontier technologies that the Singapore Government will harness and build capabilities in, positioning the Smart Nation as a regional focal point for the fast growing industry. When YITU's R&D Hub is established in Singapore, it will be their first R&D Hub outside of China.

"Singapore is an international hub and is a good place to start off for YITU as compared to other countries in the region. The AI vision for Singapore is that once it has started its AI development, there will be a ripple effect across other countries and regions as Singapore has a good reputation, and other companies will possibly follow in the country's footsteps. Hence our focus is to set up R&D Hub in Singapore rather than other countries as this is a strategic location to be the next AI Hub," said Leo Zhu, CEO and Founder of YITU. "Through YITU's products, we can help Singapore to evolve its society. Singapore is the strategic location for us to begin our overseas venture."

At the visit, the delegation also learnt about the extensive business applications of YITU's technology in sectors such as security, finance, transportation and healthcare.

"We are impressed that YITU has won the 1st Place in Identification Accuracy in Face Recognition Prize Challenge 2017 hosted by IAPRA," Jo Choo, Director Ops - Technology Group, Ministry of Home Affairs, said. "We believe that these strengths could provide the foundation that we need to leverage advanced AI technology to enhance Singaporeans' living standards. We realized video analytics are up and coming in China, and would like to work with Chinese companies to find an integrated solution."

YITU's advanced facial recognition technology has already been adopted by China Merchants Bank at over 1,500 outlets nationwide, enabling face-authenticated cash withdrawals at ATMs. Shanghai Pudong Development Bank has also adopted YITU's technologies in its Video Teller Machines (VTM) and for online banking.

YITU's technologies have also been used in sectors such as public safety, financial services, healthcare, customs and ports, and integrated marketing. YITU has formed partnerships with leading companies in these fields to provide integrated solutions.

About YITU Technology

YITU Technology (YITU) is a pioneer in practical artificial intelligence (AI) research and innovation that provides advanced AI-based business solutions to build a safer, better and healthier world. YITU boasts a world-class R&D team that drives industrial development to find comprehensive solutions in the areas of machine vision, speech and language understanding. http://www.yitu-inc.com.

Media Contact:
Eva Chen

+86-21-6151-7311

Han Yang

+86-21-6151-7311

# # #


Submitted by ACN Newswire, ACN Newswire on Tuesday, 14 November 2017 at 4:08 PM
Category: Enterprise Technology
 
Related News

Timex the Waterbury Indiglo Original Quartz TW2P83800 Men’s Watch
Friday, 20 Jul 2018

12 Ways to Protect Your Business from a Ransomware Attack!
Friday, 20 Jul 2018

Smart Parking Systems Market - Revenue of around US$34.6 mn by 2022
Thursday, 19 Jul 2018

Get your Ideal Website Designed with most Trusted Web Development Company
Wednesday, 18 Jul 2018

Xarbon Launches Asia's First Digital Carbon Credit and Partners with UNOPS to Support the Low-Carbon
Wednesday, 18 Jul 2018

Related Events

Data Science Leaders East Coast Network
Tuesday, 14 Aug 2018

Palo Alto Networks: Ransomware's Next Steps
Thursday, 16 Aug 2018

Palo Alto Networks: Virtual Ultimate Test Drive - Advanced Endpoint Protection - Aug 21, 2018
Tuesday, 21 Aug 2018

Palo Alto Networks: Virtual Ultimate Test Drive - Migration Process - Aug 24, 2018
Friday, 24 Aug 2018

International Conference on International Stability, Technology and Culture
Thursday, 13 Sep 2018

Latest News

Piano Debiti
Sunday, 22 Jul 2018

Lion Group Holdings Limited
Sunday, 22 Jul 2018

A Leader in the Jewellery Industry in the United Kingdom
Sunday, 22 Jul 2018

Nursing English
Sunday, 22 Jul 2018

The Numerous Benefits Of Personalized Dog Tags
Sunday, 22 Jul 2018

 
Want to get your press releases, event listings, and job ads on Scoopasia? Register now for a FREE account or login if you already have one!
Scoopasia v1.0b. Copyright © 2018
Today is Sunday, 22 July 2018

About Scoopasia | FAQ | Privacy Policy | Contact Us

Press Releases
Event Listings
Job Listings
Arts & Entertainment
Architecture & Construction
Automotive & Travel
Business
Consumer Technology
Economy
Education
Enterprise Technology
Food & Fashion
Government & Policy
Health Care & Medical
Legal/Law
News & Media
Religion
Science & Research
Sports & Fitness
Login / Register
Get Scoopasia through RSS Feeds & Email Notifications!


Journalist's Toolbox
Hello journalist, welcome to Scoopasia--a powerful online resource for media information in Asia. Scoopasia has press releases and media events for every beat and industry. All content on Scoopasia is 100% FREE. You don't even need to login!

  • Scoop Line
    (Instant Information Request)
    The easiest way to ask questions and request information from the PR community.


  • Advanced Search
    Drill down, dig deep, for media information the way you want it.

  • Journalist's Resources
    Resources and tools you can't do without.

  • PR Tools
    Scoopasia Blog Search
    Search the largest handpicked collection of Asia's most prominent and influential blogs.


    Resources
  • PR Bookmarks
  • Web 2.0 Bookmarks
  • Media Bookmarks

    More Coming Soon...

  • Upcoming Events
  • Palo Alto Networks: UTD NGFW - Pune 20 July 2018
  • Townlands Carnival 2018 - Music, Art And Carnival
  • Mastering Clinical Challenges and Emerging Therapies in IBD
  • Priority U LIVE
  • Update in Orthpaedic Surgery Conference July 22-26, 2018 Grand Wailea, Maui

  • Latest Jobs
    Sorry, there are currently no entries posted here.