(NEW YORK)–At their recent Artificial Intelligence (AI) Summit in Tianjan, China made clear its plan to invest heavily in AI and automation technologies in the next 10 to 15 years.
Among one of the plans discussed is to make Tianjan, China a “cash-free” city that uses largely electronic payments instead of cash in a partnership with e-commerce giant Alibaba (NYSE:BABA).
Autonomous vehicles were another particular highlight at the summit, with an ongoing competition involving 63 teams is test Chinese-made self-driving vehicles after go through a series of tests.
At the AI summit Wan Gang, the minister of science and technology, said they would soon release a development plan focusing on AI capability, the application of AI technologies, policies to handle such risks as job losses, and international collaboration.
The United States has taken a global lead in many aspects of artificial intelligence, from automated workplace functions to self-driving vehicles, and venture funding in this area has grown sharply over the past year or so.
So far in the first quarter of 2017, a total of 34 artificial intelligence startups were acquired , which is more than double the amount of activity in the first half of 2016, according to the research firm CB Insights.
AI VentureTech made note in their newsletter that ‘China’s plan to focus investments into artificial intelligence up to the year 2030 not only confirms the bullish outlook for AI and automation in the coming years, but also should set off alarm bells in the US and other Western nations to get ahead of the expected rise of AI technology so they can secure their leadership position is this emerging industry.’
AI VentureTech recently launched a financial advisory division to assist start-ups in the area of artificial intelligence and automation in accessing capital markets, and providing IT staffing for tech companies seeking to broaden their AI and automation operations.
The financial advisory firm will assist companies in the areas of business analytics, data mining, machine learning, artificial intelligence, visualization tools, predictive modeling, and cloud advanced analysis to assist them with accessing investment capital, and guiding them through the expected goal of listing them on a US exchange.
AI VentureTech Newsletter
To receive updates on new artificial intelligence and automation news stories please register to our AI investor mailing list at http://aiventuretech.com/investors/
About AI VentureTech
AI VentureTech is a technology accelerator and financial advisory firm focused on start-ups in the areas of business analytics, data mining, machine learning, artificial intelligence, visualization tools, predictive modeling, and cloud advanced analysis. AI VentureTech is a network of funds, family offices, and financial institutions dedicated to supporting projects within this emerging technology sector. http://www.aiventuretech.com
This is NOT a solicitation to Buy or Sell any security, but rather is for informational purposes only. Content contained herein includes facts, views, opinions and recommendations of individuals and organizations deemed of interest. Wall Street Newscast (“WSNC”) does not guarantee the accuracy, completeness or timeliness of, or otherwise endorse these views, opinions or recommendations, or give investment advice. WSNC, its affiliates, or directors, may or may not hold a position in the above security from time to time, and investors are encourage to consider this as a possible conflict of interest when reviewing this information. In Compliance with SEC Rule 17B, as of the date of this alert, Wall Street Newscast was not compensated for ongoing media services. WSNC, or its affiliates, may hold a position in above securities from time to time, and thus should be considered a possible conflict of interest when reviewing this report and information. These investments may involve a high degree of risk, thus investors are highly encouraged to consult with a financial advisor before any and all investments.
Safe Harbor Statements:
This website includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
Small and Micro cap, or ‘penny stocks’, involve a high degree of risk, and we highly encourage investors to consult with a financial advisor before making any and all investment decisions when investing in these type of securities.
- Direct Solar (SING) Ready to Shine on Solar Bull Run - January 13, 2020
- Data Elf Launches Online Community for Data Science Programmers in India - February 2, 2019
- IPO Watch: DocuSign and SmartSheet Show Strong Interest - May 1, 2018
- ChineseInvestors (CIIX) to Launch Financial TV News Program - April 9, 2018
- Andiamo (ANDI) Placed on Watch List by Ludlow Research - February 7, 2018
- SingularityNET Sophia Offers Glimpse of AI Human Interaction in the Future - February 3, 2018
- AppSwarm (SWRM) Adds New Coins to its Bitcoin Tracking App - January 24, 2018
- AppSwarm (SWRM) to Develop AI Based Mobile Apps for Intelligent Phones - January 19, 2018
- CIIX to Deploy Bitcoin ATM Machines in Chinese Communities in US - December 12, 2017
- Hammer Fiber Volume Spikes on Planned Broadband Launch in Baltimore - October 12, 2017