Behind the Rise of China’s Facial-Recognition Giants

09.03.2019 07:00 AM

Unfamiliar faces aren’t welcome at Beijing public housing projects. To prevent illegal subletting, many have facial-recognition systems that allow entry only to residents and certain delivery staff, according to state news agency Xinhua. Each of the city’s 59 public housing sites is due to have the technology by year’s end.

Artificial intelligence startup Megvii mentioned a similar public housing security contract in an unspecified Chinese city in filing for an initial public offering in Hong Kong last week. The Chinese company, best-known for facial recognition, touts its government dealings, including locking down public housing to curb subletting, as a selling point to potential investors.

Megvii’s filing shows the scale of China’s ambitions in artificial intelligence and how they could influence the use of surveillance technologies like facial recognition around the world. The company is one of four Chinese AI startups specializing in facial recognition valued at more than $1 billion, qualifying them as unicorns in Silicon Valley-speak. Now, the companies are looking to expand overseas, with help from public markets.

READ THE FULL ARTICLE AT THE WIRED

Categories: 
Share/Save