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Jun 14, 2020 · 36kr
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Jun 9, 2020 · Tencent

Will AI Replace Editors in The Future?

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Jun 8, 2020 · Sina News
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Mar 30, 2020 · Yitu Technology
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Feb 22, 2020 · Yitu Technology
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Feb 22, 2020 · Yitu Technology

AI aids frontline prevention and control of outbreaks

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News EO
Sep 4, 2019
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News EO
Sep 4, 2019

Yitu Clarifies STAR Market IPO News

Yitu Technology (依图科技) responded that it attaches importance to the capital market and is also actively evaluating various opportunities. However, there is no clear IPO plan at present. Yitu was founded in 2012, with the angel investment from ZhenFund (真格基金), it is also backed by the top venture capital organizations such as Sequoia and Hillhouse (高瓴资本) in six follow-up rounds of financing. In July 2018, it finished strategic financing of CNY 100 million by Xingye Capital (兴业资管), and the post-investment valuation exceeded CNY 15 billion. Based on six main applied sciences: computer vision solution, speech recognition, algorithm, human-computer interaction, big data platform, and chip infrastructure, Yitu aims at making AI technology more practical in real life. Its main downstream applications thus far are smart security, healthcare, finance, and retail. Megvii(旷视科技), one of Yitu's biggest rival, submitted its prospectus for IPO on the Hong Kong Stock Exchange in August. The listing process of AI companies has once again attracted investors' attention. In a ruthless industry that requires long-term investment and sometimes lacks clear profitability models, it's hard for them to survive without strong capital backing. China's Star Market allows loss-making companies to go public, thus the conjectures that more AI start-ups will choose to go to the STAR Market is somehow reasonable. Apart from Yitu and Megvii, the other two of the "Four AI Dragons" - Sensetime(商汤科技) and Cloudwalk (云从科技) also seem to be speeding up their capitalization pace. Cloudwalk is planning to go IPO next year, with a latest valuation disclosure of over CNY 20 billion, while Sensetime has become an AI unicorn, with the highest valuation of USD 5.9 billion. It is worth noting that both Sensetime and Megvii have investment from Alibaba. On top of that, Jack Ma is one of the shareholders of Yunfeng Fund, which invested in Yitu's series B and C rounds of financing.  

News EO
Aug 29, 2019
report
News EO
Aug 29, 2019

10 Companies Join China's National Open Platform for Next Generation AI

Ten companies joined the National Open Innovation Platform for Next Generation Artificial Intelligence. The announcement was made at the 2019 World Artificial Intelligence Conference opened on August 29. Each of them focuses on establishing the innovation platform in a specific area. YITU Technology (依图科技) is for vision computing, MININGLAMP Technology (明略科技) for marketing intelligence, Huawei(华为) for software and hardware infrastructures, Ping An (中国平安) for inclusive finance, HIKVISION(海康威视) for video sensing, JD.com(京东) for intelligent supply chain, MEGVII (旷视科技) for image sensing, Qihoo 360 (奇虎360) for cybersecurity, TAL (好未来) for smart education, and Xiaomi (小米) for smart home.  Five companies have constructed open innovation platforms for China's plan of the next generation AI. In 2017, MIIT initiated new-generation AI national projects and launched four open platforms backed by Baidu, Alibaba, Tencent and iFLYTEK based upon which developers are encouraged to build their applications. In 2018, SenseTime was appointed to be the fifth national AI open platform specializing in computer vision. On August 1, Ministry of Industry and Information Technology (MIIT) publishes the Instructions for Building the National Open Platform for Next Generation Artificial Intelligence (国家新一代人工智能开放创新平台建设工作指引). It states that leading AI enterprises and research institutions should promote the establishment of AI open platforms in each vertical. Different open platforms are supposed to have clear differentiation and focuses.  As national open platforms, the companies are expected to 1) initiate technological development in verticals; 2) promote applications along the value chain; 3) provide and share services of data, modules, applications, algorithm libraries, etc.; 4) lead small and medium companies with development and testing. Candidates who submitted applications are selected by MIIT based on the criteria, and MIIT will disqualify those who could not meet the standard.  Read more: China Bets Big on AI: Summary of Central Government Policies

Analysis EO
May 14, 2019
report
Analysis EO
May 14, 2019

Dozens of AI Companies Launch AI Chips To Win In The Future

In the past two years, dozens of companies have launched new chips to support artificial intelligence algorithms, including several AI startups, technology companies and chips manufacturers. It makes sense that chips manufacturers design new chips. But why do these AI startups and technology companies develop AI chips? The answer is that algorithm’s good performance relies on the specially designed chips to support. The traditional chips have disadvantages in high power consumption and high cost, such as CPU chips and GPU chips. Thus, these companies designed AI chips to improve the algorithm with sufficient computing capability, and reduce the cost. On May 9, Yitu Technology (依图科技), one of China’s AI leading startups, launched AI chip called QuestCore. It can be used for system on chip (SoC), and aims to be adopted in multiple application scenarios like face recognition and auto detection. QuestCore can not only run independently, but also accelerate the computing speed for AI algorithm. Other than building an accelerator in chips as many companies do, QuestCore combines AI algorithm computing requirement with CPU chip’s advantages. In addition, QuestCore can reduce the volume of servers by 4/5 which equipment QuestCore, and lower power consumption by 4/5 too. For example, an original engine room contains 5 servers and consume 20,000 watts of electricity per year. The engine room equipped by QuestCore only needs one server with 4,000 watts electricity consumption per year, which means the company can save more than CNY 100 million (USD 14.54 million) within three years. Yitu started to develop AI chips in July, 2017. At this year, the company invested ThinkForce, an AI chips design startup with comprehensive capability of chips designing. The core team members of ThinkForce come from several head chips manufacturers such as IBM, AMD, Intel, ZTE and so on. They have more than 10 years’ experience on chips design, and they have designed over 40 types of chips with mass production, which were sold up to billions of US dollars. In the procedure of QuestCore’s design, ThinkForce contributed a lot. The traditional chips global market is dominated by several American giants, including, among others, Nvidia, Intel and Qualcomm. However, new companies have opportunity in the field of AI chips. The companies that develop AI algorithm, have specific demand for AI chips and they try to adopt AI chips to multiple scenarios like autonomous driving, speech interaction system, medical imaging diagnosis and so on. Since Google equipped CPU chip in AlphaGo and won the game of weiqi with human player in 2017, many AI companies started to notice how AI chips would make a difference in the future. According to ReportLinker, a market research institution, it is expected that the global market size of AI chips will reach USD 10.8 million with a CAGR of 53.6%. For now, the companies that have launched AI chips, including Apple, Google, Tesla, Nvidia, Intel, Alibaba, Tensent, Baidu, Huawei, Cambricon, Horizon Robotics, Unisound, AISpeech and so on. CHEN Yiran (陈怡然), the professor of Department of Electronic Computer Engineering, Duke University, said in an article: There are various AI application scenarios, and the differences are obvious between algorithms. It is expected that many specially designed AI chips will emerge in the future, and many AI chips designers will come up. Founded in 2012, Yitu has grown to be a unicorn company. It has completed 5 rounds of financing worth CNY 15 billion (USD 2.18 billion). Its investors include reputable companies like Sequoia China, Banyan Capital, Hillhouse Capital, Zhen Fund and YF Capital. Yitu is known by public mainly because its face recognition system. Till now, Shanghai polices have arrested more than 60 suspects at the concert of Jacky Cheung with help of the face recognition system provided by Yitu. In addition, the company has AI abilities including computer vision, speech recognition, natural language processing, as well as AI chips design. Yitu Technology focuses on three industries: security, finance and healthcare. In 2013, the company started to develop smart camera with face recognition. Now, its smart cameras have been equipped in over 30 provinces in China, and Yitu has become the main supplier of smart cameras for Shanghai government. In 2015, Yitu applied face recognition to payment, and cooperated with several China’s banks like Agricultural Bank of China, China Merchants Bank, Shanghai Pudong Development Bank and Pingan Bank. In 2016, Yitu founded its subsidiary, Yitu Medical, to develop AI-assisted imaging diagnosis system. Its core product, Care.Ai TM, is for a variety of diseases, including lung cancer, bone age detection, pediatric intelligent diagnosis, and medical record intelligent search engine. As of January 2019, more than 50 top hospitals in China has adopted this product. According to LIN Chenxi (林晨曦), the co-founder of Yitu, has said that: Developing AI products mainly relies on the technology and innovation ability, which is different from internet products. In the era of internet, once internet giants enter a field, there will be little chances for startups, because giants have accumulated massive data and capital strength. But in the era of AI, startups have chances to develop and compete with giants, because giants don’t have data in some traditional industries such as Healthcare. So both startups and giants need to develop from zero to one.

Analysis EO
Apr 26, 2019
Analysis EO
Apr 26, 2019

Yitu's Market-driven AI Solutions Boosts the Company From China to the World

SAIL Award of AI World Innovation Challenge (AIWIN) is known as the Oscar of AI in China. In 2018, Yitu Tech (依图科技) acquired the SAIL award thanks to its Advanced Medical AI Tech, and in 2019, the company became the key partner of SAIL.  
SAIL stands for Superior, Applicative, Innovative and Leading and the awarded companies are selected once a year to stimulate technological breakthroughs and applied innovations in the world. There are solid reasons why a Medical AI company like Yitu Tech won the prize.  Artificial intelligence (AI) is an umbrella term for several computer science technologies; Medical AI generally refers to medical imaging, cancer detection, diagnostic scans, robot-assisted surgery, health monitoring, drug discovery and virtual nursing assistants. According to IP Pragmatics estimation, the global medical AI market is set for healthy growth and projected to reach more than USD 6 billion in value by 2021.  Apart from the financial benefits that are being created by the applications of medical AI, it has potential to significantly contribute the world's very problematic regions through Medical Cloud and other applications, transforming these regions and help a limited number of doctors to cure a greater number of people. However, to implement the solutions that are provided by Medical AI, there must be a necessary healthcare infrastructure already been available to build the Medical AI upon it. Therefore, Medical AI will first be implemented in the developed economies, further diverging the fundamental healthcare gap between underdeveloped and developed regions. 

“Digital health is not a silver bullet,” says Bernardo Mariano, WHO’s Chief Information Officer.  World Health Organization (WHO) sees Air Pollution, Weak primary healthcare and Vaccine Hesitancy as the biggest threats to global health in 2019. Unfortunately, digital healthcare and Medical AI have no available solutions for the fundamental problems that are mainly seen in the rural areas of Africa and South East Asia. 

China, on the other hand, is gradually getting rid of its structural healthcare problems and bolstering its healthcare capacity with AI and Medical Cloud both in its rural and urban areas. What's more, the country is slowly eluding its disastrous Air Pollution issue by stringent policies and by conveying its Dirty Industry to the less developed regions around South East Asia, such as India and Bangladesh. However, still, its ageing demographics and Rural&Urban development gaps present a potential crisis for the country. Within its complex healthcare infrastructure; Chinese medical AI companies are performing impressively in developing high-tech smart solutions in Healthcare; moreover, the country is currently applying these solutions in its countless hospitals. Medical image reading startups have already become capital chasing. According to a report issued by EO Intelligence (亿欧智库), medical image reading’s tech maturity are varied in different areas. Major startups in the area include VoxelCloud (体素科技), InferVision (推想科技), 12Sigma (图玛深维), Huiyihuiying (汇医慧影), Yitu, DeepWise (深睿医疗), Airdoc so and so forth.  These companies mostly focus on providing solutions in the early diagnoses and clinical assistance of Lung Cancer, Stroke and Coronary Diseases. 

China's hazardous air created a massive lung and coronary diseases crisis for Contemporary China. Chinese Medical AI companies have already started to cure the country's bleeding wound. The overall infrastructure is ready for Chinese companies to provide their solutions today. 

 With its CNY 670 million total funding, Yitu is the biggest one amongst China's medical AI startups. The company provides solutions in CT/X-Ray/MRI image diagnosis assistance and clinical decision support platforms. 

Lung cancer is the most common form of cancer in China, and it is difficult to detect, so the prognosis is typically not adequate. Increasing early detection is critical to reducing the mortality rate of lung cancer. Zhejiang Provincial People’s Hospital uses Yitu’s smart medical imaging platform for lung cancer for early detection. Another major problem for China is the lack of paediatricians amongst the nation. Guangzhou Women and Children’s Medical Center have cooperated with Yitu developing a preliminary diagnosis platform for patients and paediatricians. It should be noted that Guizhou is one of the least developed and most deprived provinces of China. 

 Founded by Zhu Long (朱珑) and Lin Chenxi (林晨曦) in 2012; Sequoia China and Zhen Fund back the company. Yitu provides AI solutions in Face Recognition Systems and big data real-time cloud systems for Chinese public security institutions and municipalities, as well. 

 Yitu's market-driven AI solutions polish the company, and there is a strong probability that the company will maintain and enhance its dominant position in the Medical AI and big-data of security industries in China.

News EO
Feb 13, 2019
News EO
Feb 13, 2019

Yitu Published Cooperated Paper Of Pediatric Diseases Using AI On Nature

On February 11, 2019, Yitu Technology (依图科技) has published its cooperated paper named Evaluation and accurate diagnoses of pediatric diseases using artificial intelligence on Nature Medicine, the leading science and technology journalist worldwide.  The authors are Huiying Liang, Brian Tsui, Hao Ni, Carolina C. S. Valentim, Sally L. Baxter and Guangjian Liu. The related contributors are Hangzhou Yitu Healthcare Technology, Guangzhou Women and Children’s Medical Center, and University of California San Diego. This paper shows that Yitu Technology is improving its international influence gradually by cooperating with top specialists in China and the United States. Also, this shows Yitu Technology is doing the research of medication using artificial intelligence and is leading the technology in the industry worldwide. By analyzing 101.6 million data points collected from 1,362,559 pediatric patient visits, Yitu Technology and its partners create the model and specifically state the process. The model applies an automated natural language processing system, Yitu Technology and its partners use deep learning techniques to extract the clinical data. This model is quite precise, the diagnostic accuracy reaches about 90% whilst diagnosing more than 50 species of pediatric diseases, which is already more accurate than the junior pediatrician. This research result shows that this investigation can be very useful to those places that require artificial intelligence assistance to increase the accurate rate of diagnosing. Moreover, the paper releases the method how Yitu Technology and its partners are creating the model, and implementing an AI-based system which can be promoted and used in other areas of healthcare. Founded in 2012, Yitu Technology is a Chinese artificial intelligence company which focuses on computer vision, and its goal is to build a safer, faster and healthier world. With efforts put in the medical imaging industry, this paper published on Nature is not its first achievement in medical industry. November 2019, Yitu releases the world's first full range AI-based cancer screening solutions at the Radiological Society of North America's Annual Meeting. China’s  medical industry has the issue of imbalance in different areas. Hence, the difference in the medical industry could apply a chance for the artificial intelligence to develop in China. The demand could increase the need of artificial intelligence. Yitu Technology can have a better opportunity to develop its technology in China. Also, China would offer more data for Yitu Technology’s further development.

News EO
Feb 2, 2019
News EO
Feb 2, 2019

Medical Imaging Products to Be Approved for Class 3 Certification by CFDA

The very first Class 3 certification will give to a medical imaging company, industry insiders told Yicai. The new edition of Classification of Medical Devices published by the China Food and Drug Administration (CFDA) took effect on August 1, 2018. Medical devices for the Chinese market are classified into three different categories by CFDA. The three classifications are categorized as Class 1, Class 2, and Class 3. For medical software, medical software should be categorized to require Class 2, or Class 3 certification. Class 3 devices which are usually implanted into the human body or are used for life support or sustenance, can pose a potential risk to the human body and are strictly controlled by mandated tests and clinical trials to ensure their safety and effectiveness, according to China Certification. In the new edition of certification, for medical software product that only provides advice rather than results, it should be categorized to Class 2; the product providing the inspection of images and diagnostics for various diseases, with higher risks- exactly the features that many medical imaging companies touted for their products- should be categorized to Class 3. Yitu Technology (依图科技), a Chinese tech company that uses artificial intelligence in the medical imaging industry, has sent some of its imaging diagnosis assistance products which are likely to be approved by the China Food and Drug Administration (CFDA) in 2019. Airdoc(郁金香伙伴), a medical image reading company focused on diabetic retinopathy (DR), skin, coronary and lung image reading as well as other body parts’ image reading, recently received its series B+ financing from Ping An Group (平安集团) and CITIC Securities Company(中信证券), claimed that the company has filed Application documents with CFDA to require Class 3 certification for its medical AI offsite server in earlier 2018. The gap between algorithms and standards can be overwhelming, which is going to be a hurdle for most AI medical companies. To be approved by CFDA, applicants shall be determined to a specific class which takes about three months, safety and effectiveness ensuring, testing, clinical trial, and evaluation, for each process it often take serval months before CFDA issues registration certificate, approval and license at the end. We are acknowledged that none of AI medical software has been approved for Class 3 certification so far.

Analysis
Dec 11, 2018 · leiphone
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