Yitu Technology announces $200 million funding

China’s Yitu Technology has announced the completion its $200 million Series C+, with investors including ICBC International, Gaocheng Venture Capital, and SPDB International, local media is reporting. The company, which is one of China’s foremost AI startups, has developed technology that can accurately identify individuals from a database of one billion people in just one second. […]

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Faster, cheaper, better: How China and AI are helping pharmaceutical development

The process of discovering and developing a new drug typically costs $2-4 billion, takes 10-12 years and fails more than 95% of the time either in clinical trials or while going through the approval process. Around half of failures are due to side effects in humans, sometimes discovered after a drug has been fully approved […]

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What real-world problems can AI really solve? An interview with YITU Technology

You might have heard about those ATMs that use facial recognition instead of cards and PIN numbers for authentication. You might also have seen on the news a smart security algorithm that helps police identify suspects and cracks criminal cases. Artificial intelligence (AI), the wiz behind these advanced technologies, is permeating our daily lives—everything from financial […]

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