China Frontier Tech Report 2018 by Edith Yeung at Code Conference

State of China’s AI
Blockchain
Autonomous Vehicle
中国人工智能趋势
Edith Yeung
May 30, 2018

Selected by Inc's Magazine as one of the Silicon
Valley’s investors you must know, Edith Yeung is
the head of 500 Startups Greater China and
partner of 500 Mobile Collective Fund.
Edith invested in over 50 mobile, blockchain and AI
startups, including Hooked, DayDayCook, Fleksy
(acquired by Pinterest), Silk Labs (acquired by
Apple), Human (acquired by Mapbox), AISense,
Lightyear (Stellar), Republic, Solana, Oasis,
Nebulas, etc
Before 500, Edith was the head of marketing for
Dolphin Browser, a Sequoia-backed mobile
browser with over 150 million installs worldwide.
Edith also worked with many Fortune 500
companies such as Siebel, AMS, AT&T Wireless
and Autodesk.
Edith Yeung | @edithyeung | edith.co

人工智能
Artificial Intelligence 人工智能

Blockchain 区块链

Autonomous Car 无人驾驶汽车

China Internet Users by the Number
•  1.41 billion population
•  1 billion WeChat monthly active users
•  772 million internet users
•  700 million QQ music users
•  699 million smartphone users
•  600 million Meituan (Groupon+Yelp) users
•  550 million Didi (ride sharing) users
•  500 million iFlytek voice input users
•  520 million Alipay (mobile payment) users
•  200 million Ofo (bike sharing) users
•  120 million Toutiao (news) users
•  2 billion Baidu (search) users
h#ps://en.wikipedia.org/

Chinese (Government) is the biggest
venture capital firm In the world. $231 billion
worth of government-backed venture funds
raised. In the past 3 years.
h#p://fortune.com/2016/03/09/investors-‐venture-‐capital-‐china/

In 2017, venture capitalists invested $15.2 billion
invested in AI startups globally. 48% went to
Chinese AI startups
h#ps://www.technologyreview.com/the-‐download/610271/chinas-‐ai-‐startups-‐scored-‐more-‐funding-‐than-‐americas-‐last-‐year/

Company Sector Amount Raised Investors
Sensetime Deep learning $1 billion Alibaba, CDH Investments, IDG Capital Partners,
Morningside, TCL Capital, WANDA Group
United
Imaging
Healthcare $530M China Life Insurance，SDIC Fund,China International
Capital, CITIC Securities, CMB International
Mobvoi Voice AI $252M Volkswagen, Google, SIG China
ICarbonX Health AI $199.48M China Bridge Capital, Tencent
Face++ Computer
vision
$607M Foxconn, Qiming, Sinovation
Ubtech Robotics $940M Tencent, CDH, CITIC, Qiming
Roobo Robotics $153M Iflytek
Unisound Voice AI $211M Qiming
NIO Autonomous
Car
$2.1B Tencent, CITIC, TPG, Hillhouse, Baidu, Lenovo Capital

h#p://www.gov.cn/zhengce/content/2017-‐07/20/content_5211996.htm

Notification of a new generation of artificial
intelligence development plan

h#p://www.scmp.com/tech/china-‐tech/arFcle/2120913/china-‐recruits-‐baidu-‐alibaba-‐and-‐tencent-‐ai-‐naFonal-‐team

China government recruited and announced
their very own AI national teams

Baidu
百度 Alibaba
阿里巴巴
Tencent
腾讯

9 China Frontier
Technology Trends
The latest AI, blockchain, robotics and autonomous car trends in China

Air pollution is killing about 4400 people in China
every single day
h#p://berkeleyearth.org/wp-‐content/uploads/2015/08/China-‐Air-‐Quality-‐Paper-‐July-‐2015.pdf

China now has over 300 million vehicles ...
that’s almost America’s total population, but only
1 million electric vehicle
h#ps://www.investors.com/news/china-‐electric-‐vehicle-‐sales-‐seen-‐hiNng-‐1-‐million-‐milestone-‐2018/

h#p://www.scmp.com/news/china/economy/arFcle/2088876/chinas-‐more-‐300-‐million-‐vehicles-‐drive-‐polluFon-‐congesFon

h#ps://www.cbinsights.com/reports/CB-‐Insights_State-‐AI-‐China-‐Brieﬁng.pdf?

In April 2017, Baidu announced, Apollo - open
platform for autonomous driving solutions

Baidu and Chery will jointly roll out L3 self-
driving cars in China by 2020

Baidu and Access Services (paratransit agency
in LA) plan to launch new autonomous driving
pilot in the U.S by end of 2018
h#ps://techcrunch.com/2018/01/08/baidu-‐teams-‐with-‐us-‐paratransit-‐agency-‐on-‐la-‐self-‐driving-‐pilot/

Baidu launched $1.5 billion Apollo Fund

China is the World’s Largest eCommerce Market.
$1.7 Trillion Market by 2020
eCommerce by the numbers:
•  75% of 467 million online
shoppers are Millennials
•  200 million more online shoppers
coming from lower tier cities and
rural China
•  Average spending 12,198 RMB
($1,836 USD) in 2017
•  Over 200 cities in China have
same-day or next-day delivery
coverage by Cainiao and JD
•  $1.8 trillion RMB online FMCG
market size by 2020
•  4 million express delivery
personnel by 2020 and 1 million
food takeout delivery staff
Source:
Goldman
Sachs
CHINA
E
+
COMMERCE
Shopping
Re-‐Imagined

h#ps://www.emarketer.com/ArFcle/Average-‐Spending-‐of-‐Chinas-‐Online-‐Shoppers-‐Top-‐1800-‐2017/1015731

Alibaba leverages AI & big data to crack down
on fake goods. Valued over $1.7 trillion in 2015.
leverage
the
power
of
big
data
to
crack
down
on

purveyors
of
fake
goods,
whose
value
in
2015

exceeded
$1.7
trillion

h#ps://www.usatoday.com/story/tech/news/2017/01/16/alibaba-‐cracks-‐down-‐17-‐trillion-‐fake-‐goods-‐market/96633850/

Trend 3 – AI &
Transportation

Chunyun 春运 – Chinese spring festival is the
world’s largest human migration. In 2016, number
of passenger-journeys reached 2.9 billion
h#ps://en.wikipedia.org/wiki/Chunyun

In Wuhan, passengers just needs to look at a
gate with a camera ID cards for verification.
h#p://www.aFmes.com/arFcle/pla-‐lends-‐brain-‐muscle-‐chinas-‐new-‐year-‐travel-‐rush/

More than six million Chinese nationals had been
banned from flying due to bad “social credit” include
failure to pay fines or social security insurance.
h#ps://www.telegraph.co.uk/travel/news/china-‐travel-‐ban-‐bad-‐social-‐credit-‐from-‐planes-‐trains/

In 2016, over 8 billion “red envelopes” were sent
over WeChat during Chinese New Year
h#ps://qz.com/613384/over-‐8-‐billion-‐red-‐envelopes-‐were-‐sent-‐over-‐wechat-‐during-‐chinese-‐new-‐year/

China's new loans in Jan 2018 surge to record
$458.3 billion. 5X the previous month.
h#ps://www.cnbc.com/2018/02/12/chinas-‐new-‐loans-‐in-‐jan-‐surge-‐to-‐record-‐2-‐point-‐9-‐trillion-‐yuan-‐blow-‐past-‐forecasts.htmlv

h#ps://tradingeconomics.com/china/banks-‐balance-‐sheet

SenseTime + Rong 360 partnership provides identity
verification service for fast loan products including
liveiness detection, ID and credit card recognition.

China’s pork market is valued at $220 billion. 2X
the size of its smartphone market.
h#ps://www.techinasia.com/talk/alibaba-‐invesFng-‐ai-‐pigs

Alibaba uses AI to track all of the pigs' vital
signs, pregnancy, sickness, sleeping and eating
schedule and their mood
h#ps://www.forbes.com/sites/baymclaughlin/2018/02/14/this-‐week-‐in-‐china-‐tech-‐alibaba-‐brings-‐ai-‐to-‐pig-‐farming-‐and-‐retail-‐tech-‐on-‐the-‐rise/#28db717935e1

If you do intelligent pig-raising well, you will wed
a beautiful wife soon
h#ps://www.techinasia.com/talk/alibaba-‐invesFng-‐ai-‐pigs

China’s intelligent service robots market will
reach $15.84 billion yuan by 2019
h#ps://www.staFsta.com/staFsFcs/641439/china-‐intelligent-‐service-‐robot-‐market-‐volume/

Alibaba 0.7 acres warehouse is powered by 60
delivery self-charging robots. Each robot can travel
up to 5 feet per second & carry 1322 pounds
h#p://www.dailymail.co.uk/news/arFcle-‐4754078/China-‐s-‐largest-‐smart-‐warehouse-‐manned-‐60-‐robots.html

Chinese robot dentist is the world’s first to
perform 3D-printed teeth implants in patient’s
mouth without any human involvement
h#p://www.dailymail.co.uk/news/arFcle-‐4754078/China-‐s-‐largest-‐smart-‐warehouse-‐manned-‐60-‐robots.html

China also doesn’t have enough doctors. While
the OECD average is 3.19 doctors for every
1,000 people, China only have 2.22 doctors
h#ps://technode.com/2018/02/11/tencent-‐medical-‐ecosystem/

Some parents stand in line the whole night and
fill the registration hall of Nanjing Children's
Hospital to enroll their children
h#p://europe.chinadaily.com.cn/epaper/2015-‐01/23/content_19383040.htm

h#ps://www.cbinsights.com/reports/CB-‐Insights_State-‐AI-‐China-‐Brieﬁng.pdf

WeChat Intelligent Healthcare allows users to
book appointments, make medical payments
with over 38,000 medical facilities in China.
h#ps://technode.com/2018/02/11/tencent-‐medical-‐ecosystem/

Chinese tourists made 4.53 billion trip in 2017.
Chinese international tourists is expected to
grow to 200 million by 2020.
h#p://www.scmp.com/business/china-‐business/arFcle/2130421/chinas-‐tourist-‐numbers-‐rise-‐year-‐acer-‐record-‐45b-‐trips-‐2017

Sogou Travel Translator receives over 200M
daily voice requests, approximately 240,000
hours of data with 97% translation accuracy
h#ps://www.prnewswire.com/news-‐releases/sogou-‐launches-‐ai-‐powered-‐sogou-‐travel-‐translator-‐300588124.html

Over 500 million Chinese use iFlytek voice input
via its 400,000 developers in various industries
such as smart home and mobile Internet
h#ps://www.technologyreview.com/s/608841/why-‐500-‐million-‐people-‐in-‐china-‐are-‐talking-‐to-‐this-‐ai/

Trend 9 – Blockchain in
China

Chinese People are Crazy about
Cryptocurrency….

A few Chinese cryptocurrencies have reached
over $1 billion in market cap including NEO,
QTUM, EOS, TRON, etc
h#ps://coinmarketcap.com/coins/

Binance, OKex, Huobi are the top 3 crypto
exchanges in the world with over $1 billion in
daily trading volume
h#ps://coinmarketcap.com/coins/

投资家 tracks over
150 Crypto hedge
funds in and outside
of China
h#p://www.investorscn.com/tag/qkl/

Chinese Government Supports Blockchain
Technology and launched $1 billion Blockchain
Fund
h#ps://www.coindesk.com/1-‐billion-‐blockchain-‐fund-‐launches-‐with-‐chinese-‐government-‐backing/

h#ps://www.cnbc.com/2018/05/30/chinese-‐president-‐xi-‐jinping-‐calls-‐blockchain-‐a-‐breakthrough-‐technology.html

Nine China Frontier Technology Trends
1.  Baidu leads China's autonomous car effort
2.  Alibaba leads China’s eCommerce AI effort
3.  AI helps the annual 2.9 billion human migration challenge
4.  Sensetime and Face++ lead AI effort for financial industries
5.  AI helps $220 billion pork industry and food safety challenge
6.  China’s service robots market will reach $2.5 billion by 2019
7.  Tencent leads China's healthcare AI effort
8.  iFlytek leads China's voice recognition effort
9.  Chinese Government supports blockchain but not Cryptocurrency

edith@500startups.com

@edithyeung
http://www.edith.co/
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