Tech start-ups seek potential opportunities to further globalization
After stepping into the era of the internet, a new age of hi-tech technologies is upon us. New-age technologies are dominating the discussions at the ongoing 2019 Future Investment Initiative in Riyadh, Saudi Arabia. And China's valuable start-ups or "unicorns" are in full force to showcase their technologies and seek diverse markets.
Unisound is a start-up that provides services in speech recognition. Using AI technology, the company focuses on voice technology, language technology, knowledge computing, and big data analysis. Huang Wei, Unisound's CEO, said they offer companies smart solutions based on cloud computing, and Saudi Arabia is a new market they would like to catch up on.
"In some hospitals that we partnered with, doctors can prescribe medication with our voice input technology instead of writing. Our software can help check if there's anything wrong with the prescription. We hope to bring those cutting-edge technologies to Saudi, as well as finding local investors," he said.
Moviebook, a leading visual technology start-up also expressed its willingness to seize the opportunities. The company is embracing the online video industry and opening a creative development path. The company's international business general manager, Stone Liu, said they are looking to localize while globalizing.
"We are using our computer region technology to empower the media industry, that's the first one, we can insert commercial items, and the brands anywhere," he said, adding "Saudi is a unique territory, with unique tradition and religion, we want to fulfill their requirements."
Autonomous driving technology was also highlighted at the conference. Idriverplus is one of the first batch enterprises to commercialize self-driving technology in China. The company started in 2015, mainly focusing on algorithms for self-driving cars. Zhang Dezhao, Idriverplus's CEO and chairman, is confident of expanding their business to the Middle East.
"In China, it's been used in sanitation trucks and delivery cars in over 20 cities. In the future we aim to supply the technology to ride-hailing companies such as Didi and Uber," Zhang said, adding "We are exporting the technology to Europe already. Saudi investors have shown great interest, some even offered to be our agent here."
Chinese tech firms are riding on the success track and taking giant strides at international platforms.
Amid headwinds, technology facilitates upgrading of the traditional industries, and hence it would be interesting to see how AI technology creates a better future for mankind.