Qualcomm has signed a strategic investment agreement with SenseTime, a China-based AI specialist.
The move comes in the wake of an agreement last month between SenseTime and Qualcomm subsidiary Qualcomm Technologies, with the two firms seeking to work together on on-device AI technology. It also arrives after SenseTime’s announcement this summer that it had raised $410 million in a Series B funding round, making it China’s biggest AI firm.
In a statement, SenseTime asserted that the aim of its Qualcomm Technologies partnership is to pursue an “algorithm + chip” strategy that will “redefine the intelligent terminal ecosystem and accelerate its development.” Qualcomm Ventures Global Head Quinn Li added that “Qualcomm’s investment will enable SenseTime to invest more in AI research and development.”
Qualcomm’s new partnership reflects the current boom in artificial intelligence, with many tech companies viewing it as an essential means to competitive advantage. Samsung and Google, for example, have both sought to enhance and promote the use of their AI assistant platforms, while major firms like Hitachi have embraced machine learning technology; now, Qualcomm’s SenseTime partnership could help to position the company at the cutting edge of AI with respect to its microprocessors and possibly other solutions.