The world’s most valuable artificial intelligence startup, SenseTime Group Ltd.,plans to sustain growth by expanding globally and diving deeper into arenas from autonomous cars to health care.
Investors are handing billions of dollars to Chinese AI startups from SenseTime to Face, hoping to ride a wave of support from a government intent on becoming the world leader in the technology by 2030.
SenseTime is based in Hong Kong and China, with offices in Japan and Singapore and plans for more internationally.The company counts education, self-driving vehicles as well as surgery and diagnostics among areas ripe for commercializing AI, Managing Director Esther Wong said.
The startup specializes in systems that analyze faces and images on an enormous scale and works with retailers and health-care researchers but not directly with the Chinese government, Wong added.
“The topline has been growing at triple digits for the past four years. Now that we have a bigger base, it probably won’t be as high going forward,” Wong said. “Even though we’re a startup, the founding team has been doing AI for almost three decades.”
Wong also stressed that the startup doesn’t own any of that information. That data belongs to its clients, she added.
“Most companies still don’t have a proper AI strategy yet or they don’t know how to monetize AI,” she said.