Microsoft inks agreement to open AI, IoT lab in Shanghai
The new facility is expected to be inaugurated in April this year
Microsoft has signed a memorandum of strategic cooperation to locate its new artificial intelligence and internet of things Insider Lab in Shanghai, China, Chinese news agency Xinhua reported.
The memorandum was signed between the company and Shanghai’s Pudong New Area. Microsoft’s new lab is expected to open in April.
The new facility will be Microsoft’s third and largest AI & IoT Insider Lab in the world. The company set up its first two such labs in Seattle, Washington and Munich, Germany.
The facility has the main aim of achieving deep integration of AI and IoT and supporting digital transformation across industries including manufacturing, retail, healthcare, and the public sector.
“China has the world’s largest IoT market. The AI and IoT industry has great potential in China,” said Roan Kang, vice president of Microsoft China.
Microsoft’s AI&IoT Insider Lab will work with Chinese firms and multinational companies to build prototypes, conduct technical training and provide go to market advisory, among other services, Microsoft said.
The Microsoft lab will be located on the “AIsland” of Zhangjiang Science City in Pudong.
Singapore-based GBCI launched $100 million smart city development fund
In related news, Singapore-based GBCI Ventures has announced a $100 million smart city development fund, which will be directed towards a number of technologies such as artificial intelligence, robotics, big data, IoT and virtual reality, local press reported.
GBCI said it will take an active role to provide local startups with expertise and access to technology, financial investment, mentorship and go-to-market support.
“GBCI strives to give city dwellers a futuristic and an eco-friendly urban lifestyle using AI as the core framework for building smart cities. GBCI invests in AI, robotics, big data, IoT and VR with the plan to be at the forefront to roll out smart cities,” said Lee Changjin, general partner and co-founder of GBCI Ventures.