Alibaba backs AI venture Megvii
Alibaba has joined a $600 million fundraising round for Megvii, the Chinese AI startup behind facial recognition system Face++.
The venture provides tech to the likes of Lenovo Group and Ant Financial, the payments company that underpins Alibaba’s e-commerce platforms. It will use a significant proportion of the funding to support retail initiatives, including applying its tech in unmanned stores.
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