Leo Zhu(L), CEO and co-founder of YITU Technology and Lord James Sassoon, chairman of China-Britain Business Council at China-UK Business Forum in Shanghai on Feb 2.
Leo Zhu(R), CEO and co-founder of YITU Technology and Professor Sir Kostya Novoselov, Nobel laureate at China-UK Business Forum in Shanghai on Feb 2.
Shanghai, Feb 2, 2018 - YITU Technology, the pioneering startup developing practical AI research and innovation, has been invited as the only Chinese AI company among other Chinese companies to attend a Sino-UK business forum in Shanghai, specially addressed by British Prime Minister Theresa May. The prime minister discussed Sino-UK business development and opportunities in her talk February 2.
This business event highlights the importance of a Chinese-UK shared vision so China and the UK can build a global comprehensive strategic partnership for the 21st century and usher in a "golden era" for bilateral ties.
Theresa May expresses the expectations that UK can have deeper cooperation with Chinese companies in the fields of artificial intelligence, electronic cars, energy and others.
As a prominent AI startup in China, YITU is developing its long-term plan to expand into the overseas market. The company recently opened its first international office in Singapore. YITU recognizes the immense potential of the UK market for its innovative solutions in finance, smart cities and healthcare. London represents a stronghold from which to grow YITU’s business in the West to bring its AI technology solutions to other European countries, U.S., and Canada.
In November, YITU won first place in the Face Recognition Prize Challenge(FRPC), a face recognition contest hosted by The Intelligence Advanced Research Projects Activity (IARPA) in London. The UK Home Office has been particularly impressed by the way that YITU’s technology has helped Shanghai to increase its locating people wanted by the police 16 times faster than with previous methods.
YITU is already in discussions with UK universities and research organizations in such key cities as London, Bristol, and Newcastle to nurture and recruit local AI talent in the area, helping to boost the local economy. YITU is also starting a business cooperation with local UK governments and organizations in the fields of public security, finance and healthcare.