Cogobuy Positions Itself to Capture Trillion-RMB AI Technology Opportunities: Teams Up with BAT in First AI Alliance

Artificial Intelligence
26.07.2017 08:15 am

Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')), the largest e-commerce platform serving the electronics manufacturing industry in China, is pleased to announce the launch of the AI Industry Technology Innovation Strategic Alliance (the "Alliance"), directed by the Chinese Ministry of Science and Technology, initiated on July 23, 2017 in Beijing, under joint advocacy from Cogobuy, other tech company giants, renowned educational Institutions, and AI startups.

It is the first alliance founded to support artificial intelligence technologies, and to build upon a guideline for the development of AI ("The Guideline") issued by The State Council on July 20. According to the Guideline, AI development is now a part of the national strategy. Anticipating an opportunity, Cogobuy launched the Kepler System ("K-System") to provide an open platform for the democratization of AI technologies. The K-System has achieved breakthroughs in Smart Home technologies and is expected to become a market leader, benefiting from the expected trillion-RMB cross-industry output created by AI in the future.

As Joint Secretary-General of the Alliance, Dr. Shipeng Li, Chief Technology Officer of Cogobuy and IngDan, and a renowned AI expert, has outlined three areas for his future plan, namely establishing a talent hub, consolidating channels for international knowledge exchange, and founding an AI research institution and innovation platform. The Alliance will play an important role in promoting AI applications across various industries, in turn supporting greater development and commercialization of AI technologies. Apart from Cogobuy, the Alliance is jointly advocated by well-known tech giants like Baidu, Alibaba, Tencent and Huawei; it is also backed by renowned institutions such as Peking University and Tsinghua University.

As with the the State of Council's announcement of the Guideline, boosting AI development is part of the national strategy to stimulate various markets. Cogobuy's K-System, launched early this month, demonstrates the Company's leadership in AI. Powered by the latest Microsoft AI services and Allwinner's AI chipset, the K-System is capable of providing end-to-end, easily-customizable AI solutions to unleash industry potential. Recently, the K-System established a Smart Home ecosystem which is eligible to provide support in hardware, software and cloud computing. The K-System aims at strengthening its presence in the medical, smart car, and national security sectors, to align with the Guideline's highlighted industries.

Chief Technology Officer of Cogobuy and IngDan, Dr. Shipeng Li, said: "As part of our nation's policy, AI will become the new engine for multi-industry upgrades and transformation. According to the Guideline, China's core AI-driven output is expected to hit RMB 150 billion in 2020. The prospect of China's AI development is blooming, with new AI theories, technologies, and applications that will lead the globe by 2030, nurturing AI-driven output surpassing RMB 1 trillion in value.

Our K-System enables the quick adoption of AI technologies in vertical applications for both domestic and industry scenarios to popularize AI development. Cogobuy will utilize our edge and opportunities to consolidate a more influential ecosystem and industry chain, generating new revenue streams at this inflection point in the AI revolution."