Alibaba and SenseTime Team to Make Hong Kong a Global AI Hub - AI Trends

Alibaba is teaming up with SenseTime, the world's highest-valued AI startup, to launch a not-for-profit artificial intelligence lab in Hong Kong in a bid to make the city a global hub for artificial intelligence. Alibaba, which is SenseTime's largest single investor thanks to a recent $600 million round at a valuation of $4.5 billion, is providing financing for the "HKAI Lab" through its Hong Kong entrepreneurship fund. SenseTime said it will contribute too, although the total amount of capital backing the initiative hasn't been revealed. The partners of the project -- which also includes the Hong Kong Science and Technology Parks Corporation (HKSTP) -- said the aim is to "advance the frontiers of AI," which includes helping startups commercialize their technology, develop ideas and promote knowledge sharing in the AI field. That's all fairly general -- Alibaba has a track record of politicking through technology investment schemes in Greater China and Southeast Asia -- but one tangible project is a six-month accelerator program planned for September which will welcome AI startups to the HKAI Lab.