Megvii Technology signed an agreement with Wuhan East Lake High-tech Development Zone (Optics Valley of China) on Feb 7, to set up an artificial intelligence (AI) engineering institute and the company’s headquarters for central China in the zone.
According to the agreement, the AI engineering institute will focus on technologies including machine vision, facial recognition, image recognition, and application of the technologies in fields including security, intelligent buildings, and smart finance.
Within three years of its establishment, the institute will have employed hundreds of research and development staff in Optics Valley of China.
Megvii Technology, which focuses on technology research, development and services in areas such as facial recognition, image recognition and deep learning, is an AI giant in the country valued at more than $2 billion.
The company's Face++ is the world's largest facial recognition technology platform, with coverage of more than 90 percent of the country's internet facial recognition market.
The signing of the agreement will help introduce more high-quality AI industries and companies to Optics Valley of China.
The zone will focus on fields including voice recognition, image recognition, AI chips, and intelligent robots, to build itself into a world-renowned AI industry cluster.
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