“AI for a Better Tomorrow”

Founded: Oct 2014 in Beijing, China

Category: Artificial Intelligence, Computer Vision, Machine Learning, Facial Recognition, Software

Primary office: Beijing, China

Core technical team: Shanghai, China

Status: Private

Employees: 3200

Amount raised: $3.3 billion (9 rounds – Sep 10, 2018)

OVERVIEW

  • SenseTime is the National Open Innovation Platform for Next-Generation Artificial Intelligence (AI) (authorized by the Ministry of Science and Technology of China)
  • SenseTime is a complementary innovation supplier and the world’s most-funded AI company with the highest valuation
  • Independently developed and established the world’s top deep learning platform and supercomputing center, and launched a series of leading artificial intelligence technologies, including computer vision, face recognition, text and medical image recognition, video analysis, driverless and remote sensing, etc.
  • SenseTime has become the largest AI algorithm provider in Asia
  • SenseTime ranks first in the market share in many vertical fields covering smart phones, Internet entertainment, automobiles, smart cities, education, medical, retail, advertising, finance, real estate and other industries

PERFORMANCE METRICS

  • Estimated valuation: $7.5 billion (2019)
  • Estimated revenue: $750 million (2019)
  • Number of customers: 1,100+

ACHIEVEMENTS

  • 400+ Top Academic Papers
  • 60+ AI Competition Awards
  • Global footprint – Offices in Hong Kong, Mainland China, Japan, Singapore, South Korea, Taiwan, Macau, Indonesia, Saudi Arabia and the United Arab Emirates
  • SenseTime ranked top in the categories of Detection Quantity and Detection Accuracy, and became the first champion Chinese company in this competition (ImageNet, 2015)
  • Named to Top 50 AI Start-ups (iHeima, 2016)
  • Named to Top 50 Strongest Chinese Start-ups (Fast Company, 2016)
  • Won three world champions in the object detection, video object detection, and scene analysis categories (ImageNet, 2016)
  • Received GTC Emerging Company Award – only winning Chinese enterprise (NVIDIA, 2016)
  • Entrusted by the Chinese Ministry of Science and Technology to establish the National Open Innovation Platform for Next-Generation AI (iFLYTEK, 2018)
  • Appointed leader of the Chinese national level working group setting standards for facial recognition (2019)

Sells

  • Smart city, which provides
    • Face recognition services for intelligent security
    • SenseCrowd Analytics Server for transportation hubs; helps administrators reduce overcrowding and minimize risks
    • SenseRealty for real estate, including digital marketing, customer and visitor detection, sales follow-up, customer movement statistics, real estate agent management, identity verification, sales interactions, property consultant management and more
    • Smart Device Solution, which connects different intelligent devices via SenseLink intelligent IoT platform
    • SenseID for financial firms and mobile network operators; reduces business risks by ensuring user authenticity through liveness detection, ID card recognition, and face verification
    • SenseKitchen for supervision of health and safety compliance in restaurants and kitchens
    • SenseRadar for Internet security, including Internet video image analysis
  • Mobile – including face unlock, face payment, AR effects, dual-camera VR effects, smart album, portrait lighting effect, gesture recognition, and other functions
  • General cultural and entertainment – brings in interactive special effects for face, hands, and body with augmented reality capabilities
  • Intelligent automobile
    • Driver Assistance System, which provides: Lane Departure Warning, Forward Collision Warning, Pedestrian Detection Warning and improve driving safety
    • Intelligent Cockpit, which includes face recognition authentication, driver analysis system, gesture recognition, aftermarket integrated solution and cloud data analytics platform
  • Smart health – provides comprehensive solutions for the diagnosis, treatment and rehabilitation for clinical practices (using industry leading AI healthcare and visualization technologies)
  • Intelligent business and finance
    • For online application and reduce business risk, offers a full-platform authentication service to Fintech customers: the terminal device provides liveness detection, cloud verification with facial identification; and other features for authentication
    • For offline application, including VIP Recognition System, Wealth Management Operations Assistant, Offline Financial Service Solution, Offline Smart Network and Financial Big Data
    • For intelligent business, major functions include member identification, customer flow data, customer attributes analysis, heatmap analysis, customer traffic flow analysis, average stay time, etc.
  • Education
    • Primary AI Education, which develops textbooks and courses to provide children with basic understandings of AI theories and fundamentals
    • AI-Empowered Education, which includes SenseHello SE campus sign-in system and SenseU SE campus entertainment system
  • Advertising – a brand-new AI advertising platform and advertising data analysis platform based on AI-powered computer vision technologies, including SenseFocus Advertising Analytics Platform and SenseU Interactive Advertising Kiosk

Channels

  • Strategic partnerships with Shanghai municipal government, Honda, MIT, leading Singaporean organizations, Abu Dhabi Investment Office (ADIO) and G3 Global
  • Free trials for new customers
  • Distributes the world’s first AI textbooks for high school students “Fundamentals of Artificial Intelligence” in collaboration with East China Normal University Press and veteran high school teachers in Shanghai
  • Conferences & Demonstrations

Competencies

  • Core technologies: Systematic and scalable application of computer vision and artificial intelligence
  • Cooperation with dozens of top universities and international research institutions
  • Fund raising

Resources

Assets

  • 2000+ R & D Staff
  • SenseParrots ([6]), a self-developed deep learning training framework
  • Core technologies including face and body analyzing technology, SLAM (Simultaneous localization and mapping), 3D vision, standardized and professional image recognition, autonomous driving, medical image analysis, etc.

Processes

  • Build online and mobile user-friendly Interfaces with detailed introduction of core technologies, research, products and services, and customer cases in both Chinese and English
  • Launch related products or solutions for different scenarios relying on the deep learning platform SenseParrots and its algorithm iteration using AI technology to empower all industries
  • Set up AI-based smart health lab (launched in New Jersey)
  • Rapid commercialization through intensive investment in vertical business; selling products and sharing data and algorithms with investment targets
  • Strategic cooperation with upstream and downstream enterprises to create the largest industry technology platform

Priorities

  • Education industry as a strategic focus
  • Maintain a high long-term revenue growth point (remains above three digits), use standardized AI technology products to upgrade and improve the efficiency of industries with a relatively large GDP
  • IPO
  • “1+1+X” business model, where “1” refers to the core competitiveness in technology, “+1” is the combination of technology and industry, and “+X” is to empower all industries

Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely

  1. Apply big data, machine learning and artificial intelligence to generate predictive analytics and enhance automation
  2. Establish partnerships that increase the demand for products that complement the company’s product
  3. Manage cross border units as operations that are interdependent in terms of information, investment and efficiencies and guided by the scaling master plan
  4. Establish cross border partnerships with third party service providers to serve customers regionally and globally
  5. Enable partners to leverage your company’s platform to make money
  6. Enter a different geographical market by partnering with or purchasing local companies
  7. Attain positions in cross border networks which provide access to privileged information
  8. Showcase the extent to which the company’s scaling-orientation has produced tangible results for its customers, investors, stakeholders and communities
  9. Increase the company’s value by continuously seeking and receiving funding to support the company’s plan to scale and improve its image in the marketplace

References

  1. Crunchbase. (2014). Crunchbase. [online] Available at: https://www.crunchbase.com/organization/sensetime [Accessed 13 Jul. 2020].
  2. new.qq.com. (n.d.). 商汤科技徐立:商汤营收增速保持三位数以上,未来将加快产业落地. [online] Available at: https://new.qq.com/omn/20190520/20190520A0FCVJ.html [Accessed 13 Jul. 2020].
  3. Sensetime.com. (2020). [online] Available at: https://waic2020.sensetime.com/en/ [Accessed 13 Jul. 2020].
  4. www.chinadatavalley.com. (n.d.). 商汤科技被曝折戟IPO:未形成核心技术壁垒,九轮融资后上市未卜-中国数谷. [online] Available at: http://www.chinadatavalley.com/system/2020/03/27/030417692.shtml [Accessed 14 Jul. 2020].
  5. www.sensetime.com. (n.d.). SenseTime|商汤科技 – 专注于计算机视觉和深度学习原创技术研究的国内领先人工智能平台. [online] Available at: https://www.sensetime.com/en/ [Accessed 13 Jul. 2020].
  6. 机器之心. (n.d.). 商汤自研训练框架SenseParrots首次亮相,林达华全面解读. [online] Available at: https://www.jiqizhixin.com/articles/2019-09-10-3 [Accessed 14 Jul. 2020].
  7. https://www.crunchbase.com/organization/aijia-home-furnishing-products-co#section-overview
  8. https://baike.baidu.com/item/%E8%89%BE%E4%BD%B3%E7%94%9F%E6%B4%BB/22142691
  9. https://36kr.com/p/1722829586433
  10. https://www.sohu.com/a/241527398_440492
  11. https://k.sina.cn/article_5627453138_14f6c1ed2001006x3x.html?from=home

Contributors

  • Nan Yang