Source from Chongqing Daily, CloudWalk Technology(CloudWalk, 云从科技) opened its AI experience showcase to citizens in Chongqing. The showcase demonstrates the landings of CloudWalk’s AI technologies in various scenarios.
CloudWalk is an AI technology companies with strengths in computer vision (CV). Valued at more than USD 3.5 billion, CloudWalk is titled as Top 4 CV Unicorns in China with the other three companies, SenseTime (商汤科技), Megvii (旷视科技), and Yitu (依图科技). In the showcase, CloudWalk demonstrates the smart brain for smart city, smart security, and smart campus.
Being different from SenseTime, Megvii, and Yitu, CloudWalk maintains a low profile and has a strong connection with the Chinese Academy of Science in Chongqing city. Comparing to its peers, it focuses on landing CV technologies into real use. From TMTpost, CloudWalk was the largest AI solution suppliers for Chinese banks. More than 400 banks deployed its facial recognition solution for their financial services.
It has been questioned that current AI companies are overvalued by the market. The forefront AI players easily grew to billion-sized unicorns, but their cutting-edge technologies cannot equate to outstanding performance in its financial sheets. However, the overvalue for AI technology companies is normal and standing on solid reasons.
According to Meike, Megvii’s revenue excessed millions of yuan at its fourth year, and Megvii is still a startup and AI application’s penetration rate is at the floor and far from the ceiling. CV as a branch stemmed from AI has numerous landing scenarios such as retail, banks, security, etc. CloudWalk concentrated on financial- and security-related areas. The journey just started since CloudWalk will continue to expand its landing scenarios.
Back to the showcase, CloudWalk exhibit the smart brain used in the airport. The facial recognition technology is able to support paperless and device-free boarding experience – only face needed for an identity check. China has installed facial recognition in high-speed railway stations, airports, and banks. The application of facial recognition is intensifying. According to Chyxx.com, the estimated facial recognition market size in China was CNY 2.2 billion (USD 328 million) and the patent application number reached 2,847 in 2017.
Other than the facial recognition market, CV’s application scenarios are yet to be expanded along with ICT (information and communication technology) development. With the tailwind of cloud service and telecommunication, the CV will welcome more opportunities from emerging businesses.