YITU Technology Participates in Business Forum with Prime Minister Theresa May to Explore Common Interests of the China-UK “Golden Era”
SHANGHAI, February 5, 2018
YITU Technology, the pioneering startup developing practical AI research and innovation, was invited as the only Chinese AI company among other Chinese companies to attend a Sino-UK business forum in Shanghai, addressed by British Prime Minister Theresa May. The prime minister discussed Sino-UK business development and opportunities in her speech on February 2.
This business event highlighted 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 expressed 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 ability to locate 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 such 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.
About YITU Technology
YITU Technology is a pioneer in practical artificial intelligence (AI) research and innovation that provides advanced AI-based business solutions to build a safer, better and healthier world. YITU boasts a world-class R&D team that drives industrial development to find comprehensive solutions in the areas of machine vision, speech and language understanding.