Baidu invests $200 million in Neusoft for AI applications in industrial sectors

September 17, 2019
Digital Transformation More...
Investment More...
by Jerrold Wang
Average importance

Neusoft ($1 billion revenue in 2018) is a Chinese software developer and IT service provider targeting industrial sectors like healthcare, transportation, manufacturing, telecom, energy, and smart city. This deal can speed up and expand Baidu's AI deployment in these sectors. This deal also signals that Chinese AI companies want to move beyond the existing coverage of sectors like finance, retail, and government and enter industrial sectors where AI tools are used much less in the Chinese market. Clients with established AI solutions for industrial sectors should consider working with leading Chinese AI companies like Baidu, Alibaba, and Tencent and using their channels to get access to the growing local industrial demand for AI.

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