“We power the world’s largest surveillance network. Only possible in […]

“We power the world’s largest surveillance network. Only possible in China.”
“We can predict crime before it happens.”
“AI is the key economic driver for next 20 years of economic growth!”
“We have the #1 AI supercomputer dedicated to Deep Learning with 15,000 GPUs, 157 PetaFLOPS. That is the weapons that we have.”

— Bing Xu, co-founder of SenseTime at the Goldman Sachs Private Innovative Company Conference (PICC) in Las Vegas.

SenseTime raised $2B in 2018 from Silverlake, Softbank and Alibaba as a private company. They raised $600M at a $3B valuation in April and then $700M at a $7B valuation from Softbank. “When Silverlake did the C+ round, Softbank paid attention. They were looking for an algorithm company and never found one until us.”

“We have 160 PhDs in AI area and 3000 staff, adding 200-300 per month. For the past three years the average revenue growth has been 400%/yr.”

Automotive: Hyundai $100M contract to buy our object recognition algorithms (for cars, trees, etc). Scene analysis, route planning with multi-layer risk map, driver monitoring (face recognition, expression recognition, fatigue recognition, gesture and action recognition).

“We power the world’s largest surveillance network. Recently signed satellite companies (for 510M sq. km. of image data). Trained on 2.5B faces and 410M unique IDs. Only possible in China. Best face recognition algorithm in world.”

“Embedded in 400M smart phones, 240K surveillance cameras, 260K IOT devices and 189 satellites.”

We are a software business with 80% gross margin

“Published first AI textbook for high schools. 100 schools are using our textbook to teach AI

“With 60M training images, we got to 10^-6 error rate.
With 2B images, we got to 10^-8
We are now 10^-9s
Our competitor is 10^-7.”

“Facial payments are coming in 2-3 years. It will start in Japan and Korea first because of their smaller population size. China is too big. We enable 30M to do facial payment in a test. 500M bank face registration.”

One application: Male and female viewers see different promotional products (e.g., shoes for men vs women) embedded in various videos.

Short video of his AI superpower claims: https://youtu.be/nbv5e0S1SZ0