AI Investment: Three Chinese Firms That Stepped Up Their Game
Artificial Intelligence (AI) is becoming a norm in the technology industry. More and more western companies are joining the race. However, three Chinese firms have been recommended to interested investors: Alibaba, Tencent, and Baidu.
Investment expert Chris Neiger wrote on his Motley Fool report that there are three Chinese companies worth considering in the AI realm aside from Microsoft, Amazon, and Alphabet.
Alibaba is among China's top tech giants and first gained popularity through its online retail revenue. Late last year, the company announced that it has started developing its own AI chip that consumers can experiences through autonomus vehicles and smart cities.
To keep up with China's growing AI industry, Alibaba developed an AI-powered robot that was created specifically for the hospitality sect. The Hangzhou-based provider also introduced a customer service agent that runs on artificial intelligence. This agent serves its logistics sub-company, Cainiao.
Tencent, on the other hand, is considered as China's king of data. It is basically the Chinese people's Google. With its top software provisions and high-end algorithm setups, the Shenzhen-based tech company announced its plans to advance the country's healthcare sect.
In 2017, Tencent launched Miying, an AI-based platform that assists healthcare facilities in diagnosing cancer through its artificial intelligence database. This platform also helps hospitals and clinics manage health records to give patients and employees more ease in documentary processes.
Finally, Neiger suggested that investors might want to consider Baidu Inc. amid the controversies the tech mammoth was embroiled in over the past few years.
In 2014, Baidu made one of its biggest changes as it hired Andrew Ng, a top AI engineer for Google at that time. It is worth noting that Ng spearheaded the American firm's Google Brain project.
Over the past few years, Baidu stepped up its AI game as it included artificial intelligence in a couple of its services. The most significant AI jump the Beijing-based tech provider made is the launching of Apollo, a man-less car project that aims to provide a platform for autonomous vehicles.
Baidu announced that it is expecting to release autonomous vehicles to the Chinese market by 2021. Vehicle tests have been going on in the country and in the United States to ensure that the vehicles will perform as expected.
Xinhua reported earlier this month that the search engine provider will build China's second AI cloud computing center in Baoding, Hebei Province, following its success with the first center founded in Yangquan City, Shanxi Province.
Since the beginning of 2019, the stock market started showing reluctance towards investing in certain industries but with the rise of the technological era, more and more investors are betting their money on the opportunities that the artificial intelligence sect has to offer.