AI dilemma: To be or not to be

In May, SenseTime Group, a Chinese technology company specialising in artificial intelligence (AI) and facial recognition, raised $620 million in a funding round led by Fidelity International, Hopu Capital, Tiger Global Management and Silver Lake Partners. The three-year-old startup, arguably the world's most valuable startup in AI, was valued at $4.5 billion. The funding came at a time when the Chinese government is pulling all the stops to make the country a global leader in AI over the next seven years. By 2025, the Chinese government intends to grow AI industry's value over $60 billion. In India, the picture is different.