AI

Shenzhen, a major city in China, is now piloting facial recognition software integrated with payment to permission subway entry. Tencent is a technology provider for the new solution. (link)

Source Code, one of the venture capital funds in China that has backed many of the China tech unicorns, raised more than $500 million for its newest fund. (link)

The U.S. Federal Communications Commission announced the largest auction of spectrum for U.S. telecom…

UK health care data startup, Medopad, takes capital from Chinese investors and strikes strategic partnership with China’s tech giants to tap into the 1 billion potential users to collect data for machine learning. (link)

Deloitte is investing $200M to expand its China presence. The investment will be mainly used to build talent development and to further shift its business from audit to emerging areas such as fintech.

MIT and Tsinghua University will join forces to collaborate on the Future City Innovation Connector, a project that will support research and startups focused on finding solutions and building products for China’s massive urbanization.

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IDC expects that more than 50% of the devices in China will have embedded conversational interfaces. Big challenges remain for AI experts to make machines understand Chinese language.

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Xiaomi, one of the two dominant mobile device companies in China, plans to open more than 2000 stores globally…

China tech venture funding in April’17 reached $1.9B. Complete report here.

Lots of fintech related activities in China this week:

China’s Central Bank, People’s Bank of China, is establishing a supervisory committee to focus on innovation in…