JD founder Richard Liu invests RMB 400 million into AI - TechNode

Artificial intelligence is the new hot trend in China and JD.com seems to be on its way to join BAT in the AI game. JD believes that AI technology will determine its success or failure in future retail competition, according to a report from Caijing (in Chinese). The new direction is illustrated by the latest share acquisition by Jindong Jinquan, a JD affiliated company owned by Zhang Pang, assistant to JD founder and CEO Liu Qiangdong or Richard Liu. The company in question is CSG Smart Science and Technology (科大智能) which develops smart manufacturing solutions, robotics, and new energy solutions. After suspending trade at the start of August, CSG announced its asset restructuring plan on Thursday revealing that it plans to raise RMB 600 million of funds by offering Jindong Jingquan and Hongzhao Capital shares by private placement.