Tuyere troubles
As a game of the price game, the capital of consumers, nothing wrong.After the Spring Festival, artificial intelligence sector once again felt the enthusiasm of the secondary market capital.
The overall 'throbbing' of this round of concept stocks seems to coincide with this newspaper's plan of planning and reporting for this section.
Regrettably, this newspaper is focused on the true price of the plate hidden and the value of differentiation.
In the past year, the rapid influx of industrial and financial capital, including leading A-share companies, Internet leaders and venture capital funds, not only confirms the capital appeal of 'technological iteration' but also throws the market a more burdensome competitive landscape ...
Entrepreneurs in them, cold and warm self-knowledge. (Li Xinjiang)
Guide
'There is a fickle atmosphere in artificial intelligence nowadays, some companies rely on AI to tell the story of capital to speculate on stock prices. Artificial intelligence should not be just in the lab. The' conceptual AI 'in the PPT is even the' industrial AI '. Prior to a person in charge of BAT commented.
This is a classic capital story that is intertwined with changes in the industry, mergers and acquisitions of listed companies, and the constant jump in the K-line graph.
The lens pulled back January 9, 2018, Las Vegas, USA, CES2018 Consumer Electronics Show.
HKUST first appeared in CES, XFX translation translator, translation chanting translator, MORFEI smart microphone, Dingdong second-generation speakers, Alpha eggs, Moebius headphones, hearing the news of synthetic speech chip family, covering translation, family , Cars and other scenarios of artificial intelligence products presented one by one.
Behind this rather ritual exhibition, ISTF's layout of C & T Telecom's C-headquarter has shifted from traditional B-side business to C-headquarter.
Change the potential to occur, the story of the protagonist Liu Qingfeng, chairman of the Board of Directors, said in December 2017, 'On the whole, artificial intelligence will be large-scale development, but next year there will be a large number of artificial intelligence start-ups closed down.'
Whose blue ocean?
This strategic change, within the ITF Inside, is positioned as 'platform + racetrack': with the voice technology as the interface, education, justice, healthcare, transportation and smart cities all become AI + circuits. The term, through the media Reports and research reports, etc., are constantly being strengthened and are well known in the market.
In particular, the 60th anniversary of AI industry development in 2016. This year, ISTF's consumer groups, smart education and smart city business groups were formally established, of which HKUST II President Hu Yu served as President of the Consumer Business Group. The business group has the information input method, consonance, hearing heard, smart home, smart toys and a series of C-terminal products.
In general, this will be an 'old story' with technological iterations driving the industrial boom. The protagonists are Apple, Google, and Tencent and Ali. Despite the ups and downs in the growth of these companies, the industry as a whole Bigger and get exponential growth.
However, in the field of artificial intelligence, the plot of the story has undergone a steep change. Such changes have shown a brand new competitive logic at several major race tracks at IDF.
For example, at the track of education, 21st Century Business Herald correspondents visited HKTF's 2016 annual report and HKUST took over the use of spoken proficiency testing techniques in more than 10 provinces and cities in Beijing, Shanghai and Guangdong, 17 million.University English four test intelligence score application, and completed the Anhui, Jiangsu, Guangdong, Hunan and other provinces and cities in the college entrance essay intelligence score application pilot.
IDF said in the field of education and other applications to take the 'application of free promotion, value-added operational services' model.
Accompanying this is the ubiquity of unicorns and BAT in the industry.
Enlightenment education was founded in 2014.
乂 學 學 育 Developed the first squirrel AI with adaptive intellectual property rights in China. The financing of Angel Wheel was added to 270 million yuan. The investors include State Branch Jia He (CAS), New Oriental, Good Future and even Yu Minhong It operates 264 schools in 102 cities across the country, hoping to commercialize it through offline school fees and online learning systems.
Similarly, in the medical field, IETF Intelligent Voice System landed at more than 20 hospitals such as 301 Hospital, Ruijin Hospital and Peking University Stomatological Hospital.
In the meantime, Tencent launched the first AI medical imaging product, MIAIS, in 2017. Ali's AI medical product, the ET medical brain, has a hand in the genes of China University (165.780, -5.22, -3.05% ) And Shanghai Huashan Hospital.
Huiyixin, a startup company that focuses on medical imaging, won C rounds of financing of CDH on January 8, 2018 and its diagnostic products have landed in more than 100 hospitals.
On the same day that CES Newspaper appeared in CES, there are Baidu, the collective expedition to intelligent equipment.
Baidu showed its passion for driverless driving. Its exhibitors include Apollo Pilot, a small-size autopilot and small vehicle-mounted systems. Its partners include Beiqi, FAW, Chery, Jinlong Bus and Bosch.
This is also the layout circuit of ITC Newsflies. In cooperation with manufacturers such as Mercedes Benz, BMW, Toyota, SAIC, FAW, Geely, Chery, JAC, Guangzhou Automobile and others, AIUI also announced the AIU's onboard system.
In the visible consumer-oriented track, the competition is more intense.
Branch News said that the smart TV business in the television industry to continue to maintain the industry first, Ding-dong speaker sales in 2016 nearly 100,000 units.
Whether it is Ali's smart cat Lynx, or Baidu's Fish VSI smart speakers, Sengled smart speaker light, PopIn Aladdin projector smart speakers, apparently make the track more crowded.
Needless to say, SiBi and YunZhiSheng, which are mainly based on intelligent voice interaction technology, are admitted.
'Besieged city' gradually into
In 2017, IoT shares were selected for the 'National Team' of the Ministry of Science and Technology in March, especially since May, starting at 64.77 yuan in August and up to 70 yuan in November. The market value once exceeded 100 billion yuan .
This performance, in the A-share player's rules "taken for granted."
In order to implement the strategy of "platform + track", in the past five years, iFLYCOM conducted a series of mergers and acquisitions.
In June 2013, iFly acquired 800% stake in Qiming Technology with a consideration of RMB800 million. In October 2014, it acquired 100% equity interest of Shanghai Ruiyuan with RMB210 million. In March 2015, it acquired an investment of RMB37.2 million in Anhui Xinhua Investment 18.6% stake in 2016, its 100 million yuan capital increase were 23.2% owned by JetCom, but also to 496 million yuan acquisition of 100% stake in music know.
In addition, in April 2015, UFIDA planned to increase its funding to no more than RMB2.15 billion for such projects as the Smart Classroom, Online Teaching Cloud Platform and 'XFYC', etc. In 2016, 101 million yuan The amount of the raised funds was changed into the acquisition of the equity interest in Jiefang Jiecheng.
But you can also see the conservative side.When a reporter asked if IFT will intervene in the financial AI business outlet, an executive interview with this reporter admitted that the most important layout of ISCOM is currently in the education field There is no plan to engage in the financial industry on a large scale.
But March 2, Guotai Junan Investment analyst who has long been concerned about the field of artificial intelligence is still predicting, 'the moat may be more and more shallow,
Despite cooperation with Jingdong JIMI Smart Customer Service and Baidu Maps, ISTF and BAT giant show more confrontation in terms of capital, big data, technology reserves and even market users, etc. This confrontation is rare Brokerage research reports concern.
21st Century Business Herald reporter tried to understand, but none of BAT's three parties responded positively to their capital investment in artificial intelligence.
However, from the financial statements, Ali R & D investment in fiscal year 2017 17 billion yuan, R & D investment in Baidu 2017 fiscal year to 12.9 billion yuan, Tencent FY 2017 R & D investment of 11.8 billion.
During 2014-2016, R & D investment of iFLYTEK was 518 million yuan, 577 million yuan and 709 million yuan respectively (accounting for 29.18%, 23.08% and 21.36% of the total revenue).
In terms of its ability to acquire big data, in order to gain more subscribers, ISTFI spares no efforts to expand its sales and management costs. In 2016, its sales expenses increased by 72.78% and its administrative expenses increased by 60.57% in the first three quarters of 2017.
As of the end of 2016, the number of developers of Informatica's open platform reached 257,000 (an increase of 133.6% over the same period of last year); total number of users (number of independent terminals) reached 910 million in the past 18 months and 308 million monthly active users (up 71.1%).
In contrast, BAT's own traffic attributes provide many advantages for its rollout.
Ali, Tencent, Baidu have the corresponding AI open platform to Baidu's DuerOS open platform, for example, DuerOS added more than 130 partners, landing hardware solutions more than 20 per month to add more than 5 models equipped with DuerOS equipment .
However, even if the card-biting battle, each has its own artificial intelligence strategy.
2017 is the first year of Baidu's All in AI, and on July 5, 2017, it announced the full transition to an AI company.
Lu Qi, President and COO of Baidu Group, mentioned that Baidu has opened up more than 90 AI technical capabilities including voice, image, natural language processing, video, augmented reality and knowledge maps.
Tencent made 'make AI everywhere. "Yao Xing, head of the Tencent AI lab, said publicly that Tencent's AI is based on four vertical areas: computer vision, speech recognition, natural language processing, and machine learning.
In October 2017, Ali announced that it will invest 100 billion yuan to set up a Dharma House. It will set up laboratories around the world to cover various fields such as quantum computing, machine learning, visual computing, natural language processing, next-generation human-computer interaction and chip technology.
In another data, as of the end of 2017, IT oranges tracked 1131 AI-related companies and 1296 investment events with a total investment and financing of 133.6 billion yuan in history. A number of venture capital firms, such as the Cambrian, Oracle, Horizon, Business emerge.
Confused more than information flying
As for IETF, the conversion rate of layout track still needs to be improved.
February 27, IETF published a performance bulletin, in 2017 revenue 5.458 billion yuan, an increase of 64%; net profit of 4.28 billion yuan, down 11.66%, the announcement said the net profit from the acquisition of 2016 Anhui News Fei Jie non-recurring gains and losses.
In 2016, FTTE achieved revenue of 3.32 billion yuan and net profit of 479 million yuan, an increase of only 12.69% over the same period of last year.
'R & D investment in the company to maintain long-term revenue at 20%, coupled with the capitalization of R & D expenditures amortization, as well as marketing and channel construction investment, this open-sowing investment reflects the company's current strategic positioning: ignore the profits and focus on the industry Card bit ', China Academy of Financial Research Fellow Yang Xiaobo public evaluation of IFT.
At present, only more detailed data can be seen from the 2016 annual report. Among them, the two businesses that make the most contribution to the revenue of UCITS are teaching products and services (accounting for 27.4% of revenue), information engineering (accounting for revenue 25.07%). In addition, revenue from public safety products accounted for 7.32% of total revenue, smart applications accounted for 4.63% of total revenue and smart hardware products accounted for 1.06% of revenue.
According to the statistics of this reporter, there are shares of Da Hua (28.340, -2.03, -6.68%) (002236.SZ), Zhongke Shuguang (45.810, 0.35, 0.77%) (603019.SH), robot 0.22, 1.18%) (300024.SZ) and other thirty or forty AI companies.
For example, Hikvision (42.800, -1.49, -3.36%) (002415.SZ), the top security unit with a market capitalization of 390 billion yuan, also ran toward AI operations such as face recognition.
Whether in the secondary market or in the primary market, the capital sought after by the 'hot concept' runs through almost all of 2017. In the industrial sector, following the AI report in the 2017 government work report, The story turns up.
In 2017, Hikvision received 762 research institutes and also started from the security equipment and extended to the AI business of data analysis such as human face and license plate at various levels.
A year earlier, Hikvision released a number of models including 'Haikang Deep Eye' series cameras and 'Haikang Falcon' and 'Haikang Blade' as well as 'Super Brain' NVR and 'Facebook' face analysis servers The front and back end of the smart products behind the high investment, 2014 - 2016, Hikvision R & D costs as high as 1.3 billion yuan, 1.723 billion yuan, 2.433 billion yuan.
In contrast, Guangdong Century Technology Co., Ltd., a non-listed company, focuses on the field of face recognition and has built a recognition and retrieval system for 1.5 billion portraits of the Ministry of Public Security.
Big Mac is still true, it is conceivable that for the KAWASAWA (17.450, 0.15, 0.87%), Hanwang Technology (23.100, 0.39, 1.72%), match smart market value of 10 billion Yuan artificial intelligence listed companies, the confusion may be more profound.
In the subtle pattern of competition and cooperation, Liu Qingfeng, chairman of iFLYEC, realizes that the artificial intelligence industry is at a crossroads.
December 16, 2017 The 1st Qiantangjiang Forum in Hangzhou, said Liu Qingfeng, 'On the whole, artificial intelligence will be large-scale development, but next year there will be a large number of artificial intelligence start-ups closed down.'
Four days later, on the 2017 General Assembly Yunqi · Beijing Summit, President Hu Xiaoming also pointed out that Ali goes, 'Now the field of artificial intelligence, a kind of impetuous atmosphere, some companies tell stories capital by AI, speculation share price. Artificial intelligence is not just a laboratory Inside, PPT in the concept of 'AI', but also 'Industry AI'.
Cooperation or confrontation?
The new capital structure, so that the relationship is complicated, another typical case, the same AI spotted outlet Insigma (11.490, -0.45, -3.77%), chose Ali giant hand.
As early as December 2016, Insigma with 18 billion acquisition of 80% stake in Zhejiang Huatong Cloud (get 100% equity), distributed AI, smart city, intelligent transportation, finance and science and technology as its latching direction.
Zhejiang Huatong cloud to provide IDC hosting services, and Ali in the cloud computing platform for strategic cooperation.
On February 27, the person in charge of Alibaba told 21st Century Economic Reporter that the brain of the ET city developed by Aliyun reduced the time spent in pilot areas of Hangzhou by 15.3% and the ambulances automatically arrived at the scene by half in time.
'Hangzhou's smart transportation project involves over 500,000 cameras. With the traditional centralized AI solution, 750G third-party bandwidth transmission is required at 1.5 trillion yards, and the transmission cost will be 100 million yuan a year. The AI calculation cost is even more More than 1 billion yuan / year, but if using distributed AI processing mode, you can save the cost as a whole on the original 1/10 ', February 9, Zhejiang University Chief Scientist Mao Decao interviewed by 21st Century Business Herald mentioned .
Where are the future competitive keywords, the industry is still a matter of opinion, but a consensus is that industrialization is about to kick off.
'2018 should be a year of industrialization', Mao Decao, the chief scientist at Zhejiang University Network believes that the current industrialization of artificial intelligence landing, 'a technology-driven top-down model, technology is the threshold, but need to find each The application of the industry landed, can enter the industry is a problem; the other is the bottom-up model, such as has been plowing in some industries for many years, is a process of slowly superimposed.
In addition to working with the giant, Zhejiang University Network also launched several new types of artificial intelligence products: large-scale transportation in the field of train stations, airport face recognition gates; large health field network Xinfei thinking face recognition system; and large financial sector Smart investment consulting products.
'C-end layout of many enterprises in order to obtain traffic entrance, access to the enterprise, whether the traffic conversion rate is more important.' February 26, by the Chinese Academy of Sciences Institute of Automation, Changzhou National High-tech Zone Government, Changzhou High-tech Zone love Erwei artificial intelligence incubator co-founded in Jiangsu Robot Co., Ltd. head Xiao Xiao said.
Long-term apartment B2B2C platform 'apartment home' chief operating officer Yang Jianling January 26 interview with this reporter pointed out that in the B-terminal rental market for commercial operations, the difficulty of artificial intelligence is not technology, but rather the accumulation of big data , Standard settings and machine learning.
'Our machine is still learning stage, such as the input of a housing source, the machine gives about 150,000 renovation costs, and then need to manually correct, in fact, is more appropriate 130,000, the important thing is big data, the more cases, The degree of machine learning is higher.
Hu Xiaoming, president of Aliyun, also summarized three key words: scene, big data and computing power.
Right now, who has enough ambition, capital and luck out of the siege? Everything is unknown.