(BEIJING, December 24, 2019) The seventh China-ROK-Japan Business Summit took place in Chengdu, Sichuan Province, on 24 December 2019, alongside the eighth Trilateral Summit Meeting among the People’s Republic of China, Japan, and the Republic of Korea (ROK). Chinese Premier Li Keqiang, South Korean President Moon Jae-in, and Japanese Prime Minister Shinzo Abe attended and delivered keynote speeches at the conference. Representing Chinese artificial intelligence (AI) companies, Fu Yingbo, President of Megvii Technology Limited, participated in a panel discussion themed “Science and Technology-Based Cooperation, Innovation-Driven Development”, providing an overview of Megvii’s business operations, products and technologies, and Core Principles of its AI practice.

As a world-leading AI company with core competency in computer vision, Megvii has made significant strides over the past eight years, empowering customers across different industry sectors with full-stack solutions encompassing advanced algorithms, hardware and software, promoting the commercialization of AI, and expanding the scale of the AI sector to spur further development, according to Fu.

Megvii’s mission is to power humanity with AI and the company believes technology is a force for good. However, while artificial intelligence has made life safer and more convenient in many ways, it has also brought challenges, such as privacy protection, acknowledged Fu Yingbo. To drive responsible development of AI technologies, Megvii has established Core Principles of its AI Practice and a robust system to ensure the implementation of these principles, including an AI Ethics Committee.

During the panel discussion, Fu Yingbo emphasized that cooperation and innovation are at the heart of Megvii’s value proposition. The company has forged partnerships with multiple Japanese and South Korean companies, evidenced by its cooperation with Mujin, a Japanese robot controller, in the supply chain IoT vertical. The two companies partnered to provide services for warehouse logistics, helping customers reduce costs and strengthen efficiency. Megvii’s Hetu, a robotics operating system, plays a pivotal role in streamlining automated storage and handling.

Megvii’s partnership with Mujin highlights that there are ample opportunities for Chinese, Japanese, and South Korean companies to continue to collaborate. Going forward, Megvii will continue to explore partnership opportunities with leading companies from Japan and South Korea. “A win for all would not be possible without cooperation, innovation and sharing,” Fu said.

The China-ROK-Japan Business Summit is the highest level business meeting among the three countries. The conference provides an opportunity for business communities from the three countries to interact and exchange high-level counsel and advice. 

About Megvii Technology Limited

Megvii is a world-class AI company with core competencies in deep learning. Founded in Beijing in 2011 by Yin Qi, Tang Wenbin and Yang Mu, three Tsinghua University graduates who studied under the Turing-prize winning Chinese computer scientist and computational theorist Andrew Chi-Chih Yao, Megvii is a pioneer in applying AI technology and computer vision algorithms to Internet of Things (IoT) use cases. The Company’s mission is to power humanity with AI. 

Megvii’s first commercialized AI product was a facial recognition solution. The Company has developed its proprietary deep learning framework Brain++, which functions as a unified underlying architecture and provides critical support tailored for the Company’s algorithm training and model improvement processes. 

Leveraging its strong software-hardware integration capabilities, Megvii offers full stack solutions to its customers, and has achieved leading positions in several key vertical markets, including personal IoT, city IoT and supply chain IoT. Megvii is building an AI infrastructure to connect and empower various IoT devices, to solve real life problems and pain points encountered by customers in sectors including fintech, transportation, logistics and others. Megvii is dedicated to helping customers achieve specific goals such as user authentication and fraud reduction, traffic optimization, and labor efficiency gains. 

Headquartered in Beijing with over 2,000 employees, Megvii maintains four research and development centers in China.

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