Mainland China recorded robust venture capital activity in the third quarter, with the country taking half of the world's ten largest venture capital deals during the period. Artificial intelligence (AI) was a leading sector for deal making, according to KPMG's quarterly global report on venture capital trends. Continuing the momentum from the second quarter 2017, companies in mainland China attracted US$10.2 billion worth of venture capital investments in 95 deals between July and September, accounted for half of the top-ten largest global venture capital deals, and 10 of the top 12 deals in Asia. These included the US$2 billion fundraising by news aggregation app Toutiao and US$1.6 billion raised by electric vehicle manufacturer BAIC BJEV. The report highlights that AI, robotics, and other tech-enabled next-generation sectors in China are attracting significant investment, with the pace is expected to continue.
New research reveals that the majority of UK-based AI and machine learning vacancies are based outside of the capital. The study shows that of the 1,547 jobs, 803 were based elsewhere in the UK, with Cambridge, Bristol, and Manchester the best performing cities outside of the capital respectively. The research also revealed that creates more AI jobs than any other European nation - the fourth highest in the world, ahead of Germany (1,120) and France (763). The research, collected robotic process automation company UiPath, was revealed after the analysis of 30,000 job listings on Indeed.com Globally, China and the US continue to lead the way in the AI industry as the two countries with the two highest numbers of AI and ML jobs, with 12,113 and 7,465 respectively.
CloudMinds, a cloud robotics start-up founded by the former head of the research division of China Mobile, has raised US 30 million seed financing from SB China Capital (SBCVC), Hon Hai Precision Industry Co., Ltd., Walden International and Kaixuan Capital. Cloud robotics is an emerging field of robotics rooted in cloud computing and cloud storage centered around the benefits of converged infrastructure and shared services. Huang Xiaoqing left the Research Institution of China Mobile last March to launch CloudMinds, according to an article published by Caixin Media. "A robot with similar capabilities of a real human requires a computer system that may be one million times bigger in size than that of a human brain, which means the brain of a robot must be on the cloud," Huang told the Chinese media organization. CloudMinds is targeting to reveal a full-service housekeeping robot in 2025 to service individual families.