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Exclusive | SenseTime parlays academic bona fides in facial recognition, image processing into world’s largest artificial intelligence platform

  • A group of professors at the Chinese University of Hong Kong (CUHK) nurtured a start-up into the world’s largest AI unicorn in seven years
  • SenseTime appointed HSBC and CICC to lead a Hong Kong stock offer estimated at US$2 billion

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SenseTime’s object detection and tracking technology on display at the Artificial Intelligence Exhibition & Conference in Tokyo on Wednesday, April 4, 2018. Photo: Bloomberg
Wang Xiaogang’s first encounter with a thinking machine two decades ago set him on a career path that would turn him into one of China’s foremost experts on artificial intelligence (AI).
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A masters student in electronic engineering in 2001, Wang was visiting a laboratory at the Chinese University of Hong Kong (CUHK) when his engineering dean Tang Xiao’ou showed how deep neural networks in computing could teach algorithms to mimic artistic techniques, transforming his photograph into a portrait with the signature styles of Claude Monet or Vincent van Gogh.

“It was eye-popping,” Wang said in an interview this week with the South China Morning Post from Shanghai. “I was a layman in AI” who had never seen anything like that before, he said.

The experience switched on his lifelong fascination with pattern recognition and machine learning, propelling him to complete a doctorate in computer science at the Massachusetts Institute of Technology (MIT), and eventually to patent the technology for turning photographs into portraits. With his academic peers, Wang – who remains a professor at CUHK – co-founded SenseTime in 2014, turning the start-up into an AI powerhouse valued at US$8 billion according to data provided by Crunchbase.

A recent photo of Wang Xiaogang, professor at the Faculty of Engineering at Chinese University of Hong Kong (CUHK) and co-founder of SenseTime. Photo: SenseTime
A recent photo of Wang Xiaogang, professor at the Faculty of Engineering at Chinese University of Hong Kong (CUHK) and co-founder of SenseTime. Photo: SenseTime
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SenseTime hired HSBC and China International Capital Corporation (CICC) to lead its initial public offering (IPO) estimated at US$2 billion in the city of its birth: Hong Kong. The stock sale would finance the growth of a company that is already applying its AI expertise in a multitude of applications and services, from face-unlock features on smartphones to diagnostic tools for X-ray and internal organs.
China’s AI industry – comprising computer vision, intelligent speech, human-computer interactions, machine learning, natural language processing and AI chips – is expected to triple to 453.26 billion yuan (US$69.8 billion) in value by 2025 from last year, according to a forecast by iResearch. A broader industry driven by AI may be as large as 1.66 trillion yuan by the same time, which underscores the strategic importance of the field in the “Made in China 2025” industrial master plan.
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