Sinovation Ventures Chairman Kai-Fu Lee Starts New AI Company

On March 19, Kai-Fu Lee, Chairman and CEO of Sinovation Ventures, a enterprise capital agency, formally launched Project AI 2.0, a brand new firm geared toward succeeding within the AI 2.0 period.

On his WeChat account, Lee said that Project AI 2.0 has secured the required funds and computing energy, and has assembled a staff of prime expertise to steer the corporate. The firm is looking for specialists in giant fashions, multimodality, pure language processing, AI algorithm engineering and analysis, and distributed computing to hitch the staff.

Lee additionally shared Sinovation Ventures’ channels for expertise suggestion and cooperation, and included his 1983 utility letter to Carnegie Mellon University as a solution to reveal his unwavering dedication to the sector of AI.

Project AI 2.0 is the seventh firm cultivated by Sinovation Ventures’ AI Institute. The firm has a world give attention to growing platforms and purposes for the AI 2.0 period. Several senior technical and administration specialists have already expressed their pursuits in becoming a member of the corporate. Sinovation Ventures is at present in discussions with prime traders relating to the primary spherical of fundraising for Project AI 2.0 and plans to make an official announcement sooner or later.

Sinovation Ventures holds excessive expectations for Project AI 2.0 and goals to not solely develop a Chinese model of ChatGPT, but in addition to discover the worldwide market and turn out to be a world-class firm that may reveal Sinovation Ventures’ R&D and engineering capabilities.

“The development of the AI 2.0 era is still in its infancy. At this time, we decided to use our technological and incubatory capabilities to call on top technical talent who share a strong belief in the potential of AI to join together on a global scale,” Sinovation Ventures defined the motivation for incubating the brand new firm.

Sinovation Ventures has expressed its openness to collaborating with distinctive startups within the AI 2.0 mannequin, infrastructure, and purposes area. The new platform launched by Project AI 2.0 is predicted to generate extra modern funding alternatives sooner or later.

According to Jiemian News, within the preliminary levels of Project AI 2.0, Lee plans to give attention to recruiting a world-class administration staff. After the CEO of Project AI 2.0 is appointed, Lee will strike a stability between overseeing Project AI 2.0 and his tasks at Sinovation Ventures.

There is certainly a precedent for this government plan. When Sinovation Ventures invested in AInnovation, an AI agency that later went public in Hong Kong, Lee devoted a big quantity of effort and time to the startup. Once the enterprise matured, CEO Xu Hui was introduced on board.

SEE ALSO: Sinovation Ventures Chairman Kai-Fu Lee Comments on ChatGPT

In his newest speech, Lee emphasised that the AI 2.0 period presents an amazing alternative for upgrading workplace productiveness instruments. He highlighted that AI 2.0 is driving a revolution in expertise, platforms, and purposes, much like how Windows popularized PCs and Android gave rise to the cellular web ecosystem. He predicted that the AI 2.0 period will create alternatives ten instances bigger than these of the cellular web, rewrite present software program and person interfaces, and generate a brand new wave of AI-first purposes and enterprise fashions.

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