Chinese AI 100m: Companies making robots generate much investment interest as corporations worldwide try to automate manufacturing lines and supply chains. Flexiv. which just closed a Series B round with investors that included China’s largest on-demand services company Meituan, is the most recent company to receive funding.
Chinese venture capital firm Meta Capital (), important Chinese agricultural company New Hope Group, private equity firm Longwood, Jack Ma’s YF Capital, well-known Chinese venture capital firms Gaorong Capital and GSR Ventures, as well as Plug and Play’s China and U.S. ventures are additional significant investors in the strategic round. The business has secured over $120 million in funding due to the current round.
Two-thirds of the business’s workforce is based in China, typical for AI startups led by Chinese founders who have worked or studied in the United States. The company has offices in numerous important Chinese cities and California.
Alumnus of Stanford University’s Biomimetics and Dexterous Manipulation Lab Wang Shiquan launched Flexiv in 2016, focusing on creating adaptable robots for the manufacturing sector. The business intends to use the additional funding to introduce its general-purpose, AI-driven robots into other industries, including services, agriculture, logistics, and healthcare.
Flexiv might, for example, apply its solutions to Meituan’s primary food delivery operation, which entails repetitive, high-volume jobs and is well-suited for automation.
Following the money to the most promising sectors
We examined the Chinese AI market to assess where AI would be most valuable in the future. To determine where AI was adding the most value across the global landscape, we thoroughly examined market estimates and nation and segment-level reports on a global scale.
Chinese AI 100m: We then had in-depth conversations with Chinese experts from various industries to determine where the most significant potential might materialize.
Our study led us to several industries, including manufacturing, enterprise software, automotive, transportation, and logistics, which are estimated to account for about 64% of the $600 billion opportunity. Healthcare and life sciences will contribute 4% of the opportunity.
Our analysis reveals that the value-creation opportunity is confined to two to three domains for each sector. They are often in industries where venture capitalists. And private equity firms have made significant investments over the past five years. And where successful proof of concepts has been presented.
Manufacturing
China’s position as a leader in precision manufacturing for processors, semiconductors, engines. And other high-end components is changing its manufacturing reputation from being a low-cost manufacturing powerhouse for toys and clothing.
- According to our research, artificial intelligence (AI) can assist in facilitating this transition. From industrial execution to manufacturing innovation and generate $115 billion in economic value.
- Chinese AI 100m: The majority of this value creation ($100 billion) is probably going to be generating. By improvements in process design made possible by the use of various AI applications, like collaborative robotics.
- Which will build the next-generation assembly line, and digital twins. Which will replicate real-world assets for use in simulation and optimization engines.
- 9 Before starting large-scale production, manufacturers. Suppliers of machinery and robotics, and companies that provide system automation can simulate, test. And validate the results of manufacturing processes.
- Such as product yield or production-line productivity, to find costly process inefficiencies early on. Wearable sensors are using by a local electronics business to record and digitize employees. Hand and body movements to simulate human performance on the manufacturing line.
- Then, it adjusts equipment settings and parameters to minimize the risk of worker injuries. While enhancing comfort and output (for instance, by adjusting the angle of each workstation based on the worker’s height).
- The remaining $15 billion in value creation in this industry is anticipatING to result from advances. In product development made possible by AI.
10 Businesses might employ digital twins to quickly test and validate new product ideas to cut R&D expenses. Boost new product innovation, and improve product quality. Google has given the world a preview of what is possible by using. AI to quickly analyze how different component layouts affect a chip’s power usage, performance metrics, and size. This method can provide an ideal chip design most of the time required by design engineers working alone.
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