China’s artificial intelligence (AI) industry is entering a rapid period of consolidation after large language model (LLM) development mushroomed last year, industry experts said. “[LLM competition] has entered the finals this year,” Alex Zhou, managing partner of Qiming Venture Partners, said at the Future Tech Summit 2024, held by Hong Kong Exchanges and Clearing (HKEX) … Read more
“In 2023, intense competition among over 100 LLMs has emerged in China, resulting in a significant waste of resources, particularly computing power,” Li said during a panel discussion at the World Artificial Intelligence Conference (WAIC) in Shanghai on Thursday. Li called on developers to build more practical applications rather than continuously tweaking the technology that … Read more
Chinese large language model (LLM) developers from SenseTime and Alibaba Group Holding have rushed to declare fresh progress in developing their artificial intelligence (AI) technology at the country’s largest annual industry conference, in sign of deepening competition in the country’s largely closed-off market. At the World Artificial Intelligence Conference (WAIC) in Shanghai, Chinese AI champion … Read more
SenseTime, one of China’s artificial intelligence (AI) pioneers, is aiming for profitability within the next two years as revenue from its generative AI business tripled last year, and is expected to become the company’s new profit engine, according to CEO and co-founder Xu Li. Hong Kong-listed SenseTime reported revenue of 1.184 billion yuan (US$163.4 million) … Read more
“In our pursuit to push the boundaries of SenseNova’s capabilities, SenseTime remains guided by the Scaling Law as we build upon our large [language] model based on this three-tier architecture: knowledge, reasoning and execution,” said Li, referring to expanding the LLM’s size by increasing its parameter count to boost its learning and generalisation capacity. SenseTime … Read more
