Alibaba’s Favorite ‘Warehouse Robot’ Maker, Geek Raises Funds
In a new guideline released Wednesday, China revealed plans to triple its production of industrial robots by 2020. Being optimistic about the Chinese market due to multiple factors of positive policies, replacement of manpower by robot, industrial transformation and upgrading and increasing downstream demand, companies at home and abroad are stepping up efforts to make presence in China industrial robot industry. But as one government official put it, This case shows that everyone must be accountable for misdeeds, no matter who you are.” Gao Wenqian, a former Communist Party official who fled to the U.S. after the Tiananmen Square massacre, believes Ai is not really free. Meanwhile, Tencent’s domestic competitors remain confined to a relatively narrow field when it comes to their core businesses (Baidu in search, Alibaba in e-commerce), while Tencent’s foreign competitors remain largely absent in China for either legal or competitive reasons. To bring down the cost of production for the many consumer and industrial products made in its factories, China is undergoing a robotics revolution, installing machines to replace people on the assembly line, and working with Israel to develop smarter and better robots, via the newly established Sino-Israeli Robotics Institute. Beijing is backing its artificial intelligence push with vast sums of money Having already spent billions on research programs, China is readying a new multibillion-dollar initiative to fund moonshot projects, startups and academic research, all with the aim of growing China’s AI capabilities, according to two profes sors who consulted with the government on the plan.
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