AI Firms Focus on Technicalizing Application Scenarios

Beijing, June 19, 2019 – The tech industry is shifting focus from the internet era to the age of artificial intelligence (AI), with a growing emphasis on bringing virtual applications into physical reality.

Companies like WiMi Hologram Cloud, Megvii, SenseTime, and CloudWalk are spearheading this transition. Following the phase of "internetization" where the internet became deeply embedded in daily life, the industry is now entering a phase focused on the "technicalization of application scenarios." This involves applying internet technology and AI to real-world industries.

The rapid advancement of AI is underpinned by algorithms, computing power, and data. Computing power, in particular, has seen exponential growth, with AI training computations increasing over 300,000-fold since 2012, according to OpenAI. Projections indicate continued rapid increases in computational demand.

While past decades focused on digitizing the physical world, the next few decades aim to use technology to reintegrate digital and virtual elements from the internet back into the real world. Companies such as SenseTime are making strides in facial recognition and other AI applications for sectors including security, finance, and autonomous driving. Megvii and Yitu Technology are also developing AI solutions for various industries.