World's Most Expensive AI Startup Gets Rich By Spying Citizens

According to Bloomberg, the Chinese company SenceTime has grown by $ 600 million in recent months by helping the government ... keep an eye on its own citizens.

The fact is that SenceTime specializes in the development of technologies for face recognition based on artificial intelligence. The company became successful in just 3 years - and the secret of such success is quite simple.

“If you've ever photographed with a Chinese phone or walked the streets of Chinese cities, ” Bloomberg notes, “it's very likely that your digital appearance ended up in the SenceTime database, linked to more than 100 million mobile devices. ".

The company is also actively partnering with Honda to build autonomous vehicles, and telecommunications giant Qualcomm has expressed interest in installing facial recognition on smart devices manufactured by the company.

SenceTime's success is a major claim to the global AI leadership that China aims to achieve by 2030. There are many factors contributing to the fact that the company's services will be in demand by millions of Chinese citizens in various fields.

According to CNBC, SenceTime plans to update its AI platform, build infrastructure and "open up new business opportunities." This means further software development. Facial recognition technologies are becoming more advanced and more difficult to deceive. This, however, creates serious problems for those who strongly oppose invasion of their privacy.