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AI Happy Hour - Dr. Kai-Fu Lee - The Golden age of Artificial Intelligence

New breakthroughs in machine learning has created two set of opportunities in artificial intelligence.

On one hand, we're seeing a tidal wave of startups in fields such as robotics, autonomous vehicles, image recognition, and speech / NLP. Separately, we're also finding AI startups leveraging big-data and solving problems in traditional, but data rich, industries (e.g. finance, retail, medical, education, etc..) and in variety of use-cases (e.g. sales, marketing, and productivity).

At Sinovation Ventures, we see China as a great platform for Artificial Intelligence to take off. China has the unique set of conditions such as large amount of untapped data and deep talent pool of engineers and scientists. As a global investment firm, we see many opportunities for US and China to partner together in the golden age of artificial intelligence.

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AI Happy Hour - Dr. Kai-Fu Lee - The Golden age of Artificial Intelligence

  1. 1. The Golden Age of Artificial Intelligence: Opportunities for an AI scientist Dr. Kai-Fu Lee Chairman and CEO Sinovation Ventures October 2016
  2. 2. 10 years from now, artificial intelligence will replace 90% of the world’s ... • Can you play a million Chess games a day, while learning from AlphaGo? • Absorb the cumulative daily experience of Tesla from a million vehicles? • Instantly compare all of the world’s airport cameras against all wanted criminals’ faces? Translation Reporters Assistant Police Taxis Sales Service Traders Accounting Maids Artificial intelligence is not just an "imitation of the human", but it usually goes "far beyond human” … Artificial Intelligence: The greatest value creation engine
  3. 3. GamingPerceptionDecisionFeedback Artificial Intelligence: A brief history 1989 1992 1997 201620142011 Bill Othello Deep Blue AlphaGo 2007 SPHINX IBM Watson Apple Siri 1994 Nuance 2012 Chinook Checkers 1988 Facebook DeepFace Microsoft Tay Loebner Prize Claudico Texas Hold’em 2015 Google Brain 2000 2013 DQN Xbox Kinect Google Now Microsoft Cortana Palantir Metropolis Wealthfront Betterment Google AdWords Kensho Google Auto- Email MS Office Grammar 2012 CMU Boss Boston Dynamics Google CarPepperAmazon Kiva
  4. 4. GamingPerceptionDecisionFeedback But timing matters… 1989 1992 1997 201620142011 Bill Othello Deep Blue AlphaGo 2007 SPHINX IBM Watson Apple Siri 1994 Nuance 2012 Chinook Checkers 1988 Facebook DeepFace Microsoft Tay Loebner Prize Claudico Texas Hold’em 2015 Google Brain 2000 2013 DQN Xbox Kinect Google Now Microsoft Cortana Palantir Metropolis Wealthfront Betterment Google AdWords Kensho Google Auto- Email MS Office Grammar 2012 CMU Boss Boston Dynamics Google CarPepperAmazon Kiva
  5. 5. The PC era The Internet era The Mobile Internet era The AI era YOU Bill Gates Born in 1955 Steve Jobs Born in 1955 Jeff Bezos Born in 1964 Jerry Yang Born in 1968 Kevin Systrom Born in 1983 Evan Spiegel Born in 1990 The AI era is YOURS
  6. 6. Deep Learning’s advantages: • More web layers • fast learning of abstract concepts • self-learning • accelerating convergence Deep Learning: The biggest breakthrough in recent years
  7. 7. 70% 75% 80% 85% 90% 95% 100% 2011 2012 2013 2014 2015 2016 Human eye Deep learning Medical Science: Automated reading, automated and auxiliary diagnosis, personalized diagnosis, gene sequencing Education: Learning a foreign language, smart learning sequencing Banking and insurance applications: Targeted marketing, loan approval, credit card fraud prevention Recognition: Voice, face, video content applications: security, customer service..... Investment: AI+high frequency trading, prediction engine (Bloomberg replacement) Internet data: Purchase conversion, recommendation, pricing, targeting, SNS marketing BI、Business process automation Greatest single opportunity: Autonomous vehicles (tech. applicable to many areas) Deep Learning: Exceeding humans & creating value
  8. 8. Google  Alphabet: World’s most ambitious AI Platform
  9. 9. Deep Learning: Rapid adoption inside Google
  10. 10. Deep Learning: Learning from Massive data Reinforcement Learning: Auto- Learning Transfer Learning: Solve sparse- data problem Today Future Machine Learning: Only the beginning…. Credit to: Prof. Yang Qiang, HKUST
  11. 11. Scientist Question #1: When will AI work? Five conditions of AI Clear boundaries Auto- collected feedback loop Computing resources Big data (ideally closed- loop) Top data scientists Credit to: Prof. Yang Qiang, HKUST
  12. 12. 1 2 3 4 Own end-to-end data Hire best scientists Buy hardware optimized for AI $100,000,000 $400,000,000 Train young people in “AI alchemy” Scientist Question #2: How to profit from AI?
  13. 13. 1 2 3 4 Assist and not replace people “Trick”users to provide data “Error-tolerant”user interface Constrained application scena “无人驾驶” Scientist Question #3: How to succeed despite AI imperfections?
  14. 14. Scientist Question #4: Best AI founder = ? The Internet era The App era The O2O era The AI era US Returnee Product manager On-the-Ground Sales + Back-end Technologist AI Scientist + Enterprise Sales Leader YOU
  15. 15. L1: (AI as input to humans) Vision Voice Language Gesture Industrial Robots Househol d Robots Big Data Perception Robotics Autonomous Driving Stage3–5yr5–10yr10yr+ Internet Application All-terrain fully autonomousdri ving L2-3: (AI assisting human driver) AR/VR & New natural interface Com- mercial Robots Cross-domain and general natural language understanding L4 (Human assisting AI) Investment Insurance Banking Healthcare Education Any industry with big data Artificial intelligence + computing architecture + algorithm framework + sensing platform BI、 Business process automation Mass produced sensors Sinovation Ventures AI roadmap Understanding Expensive sensors: Infrared, depth camera, Gyroscope, Lidar…
  16. 16. Attract top tech talents Collect cross- cutting big data Build up a platform and create a cluster (2) Series A+B VC Sinovation Ventures AI Strategy Top engineers Explore collaboration with industry leaders Look for the best AI opportunities (1) Early stage incubation: AI Institute
  17. 17. Sinovation Ventures: $675M duo-fund just raised USD Fund III 300M USD RMB Fund II 2.5B RMB 39% 22% 32% 5% 2% Type of LPs 大学基金会和退休基金 家族办公室和捐赠基金 上市公司 主权基金 美元母基金 University funds & pension funds Family offices & endowment funds 59% 10% 20% 11% Type of LPs 高净值个人及财富管理机构 上市公司 政府引导资金 人民币母基金 Sovereignty funds USD FOFs Public companies Public companiesWealth mgmt. institutions RMB FOFsGov’t guidance funds
  18. 18. The most complete AI research and blueprint in industry. • Include detailed predictions and methodology. Sinovation Ventures AI portfolio Series A+B VC The most important investment area for Sinovation Ventures. • 25 portfolio companies in total. • 75% in China, 25% in the U.S. • Total investments in AI > US$100M. Sinovation Ventures raised new capital in preparation. • Total AUM: US$1.2B. Provide comprehensive help to portfolio companies. • Cooperation both at home and abroad. • Industry analysis and insights. • Global & campus recruitment.
  19. 19. • ImageNet World Champion. • FaceID having been called over 2 billion times. • Leader in China’s unmanned driving. • Founded by former head of Intel China Research Institute. • Preparing for going public on the Hong Kong stock market. • Covering 1.1 billion devices globally. • ACM world champion. • Founded by Baidu's youngest scientist. • Gathered industry’s top AI experts. 输入内容 输入内容 • Innovated K12 English textbooks in China. • Product used in > 10,000 schools nationwide. • Founded by former head of Baidu IDL. • A rising star for both capital & talents. 输入内容 The world's fastest developing K12 programming toy robot Compact, low-power, high- resolution computer vision processor. • Industry leader in video conference. • Defined the family- accompanying robot. • Work with first-class researchers & scientists. • Artificial Intelligence + General Robots. Sinovation Ventures’ top AI portfolio with campus recruitment
  20. 20. Attract top tech talents Collect cross-cutting big data Build up a platform and create a cluster Top engineers Explore collaboration with industry leaders Look for the best AI opportunities • Top tech talents / EIR • Most promising young engineers • Industry experience from Sinovation Ventures Sinovation Ventures: AI Institute ($60M funding just raised)
  21. 21. • Example I: • >20000 Google citations • Top scientist from academia • Breakthrough AI application in robotics • Example 2: • Key technical position at 3 US & China giants • Access to exclusive big data access • Develop specific industry application • Example 3: • Director at top company • Experience in NL/speech and deep learning • Planning unique consumer product/experience Sinovation Ventures Technical EIRs
  22. 22. Jiaping Wang – Senior AdvisorYonggang Wang - VP of AI Institute Qin Liu - Senior Expert Yonggang was a Staff Engineer and Senior Manager at Google where he was responsible for Desktop Search, Product Search, Knowledge Graph, and Pinyin input methods. Prior to that, he was a Technical Director at 任方正奥德 building wide range of financial software products. Yonggang is a graduate of Beijing University. Jiaping was a Lead Researcher and Team Lead at Microsoft Research (Seattle). He has published in SIGGRAPH multiple times and hold more than 10 patents. He also has full-stack experience in recommendation systems, P2P networks, quantitative trading, HPC, and GPU Computing. Jiaping received his PhD from Chinese Academy of Sciences where he won the best dissertation in China (“Data-Driven Appearance Modeling”) Qin was previously an engineer at Google. He has extensive experience in automated testing of optical equipments and wireless networking. Since leaving Google in 2009, he ran a successful quantitative hedge fund. Qin received his BS from University of Waterloo and MS from University of Toronto. Sinovation Ventures AI In-house experts
  23. 23. Sinovation Ventures & portfolio companies recognized as AI leaders
  24. 24. Contact: kfl@chuangxin.com

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