Trouble
As a "game" of price games, capital is a slogan, nothing wrong. Shortly after the Spring Festival, the artificial intelligence sector once again felt the enthusiasm of the secondary market capital.
The overall "instigation" of this round of concept stocks seems to coincide with the newspaper's report on the progress of the report.
Regrettably, this newspaper focuses on the real price concerns and value differentiation of the sector.
In the past year, the rapid influx of industrial and financial capital, including leading A-share companies, Internet leaders, and venture capital, has confirmed the capital appeal of “technical iteration†and at the same time, it has thrown a more cumbersome competitive landscape in the market. ......
The company in which it is, is warm and self-aware.
"Now there is an impetuous atmosphere in the field of artificial intelligence. Some companies rely on AI to talk about capital stories and speculate in stock prices. Artificial intelligence should not be just a 'conceptual AI' in the laboratory, PPT, but also an 'industry AI'. "A previous BAT related person in charge commented.
This is a classic capital story intertwined with industrial changes, mergers and acquisitions of listed companies, and the continuous jumping of K-line charts.
The lens was pulled back to the CES2018 Consumer Electronics Show in Las Vegas, USA on January 9, 2018.
Keda Xunfei debuted at CES, Xunfei Xiao translation machine, translation translation machine, MORFEI smart microphone, å®å’š second generation speaker, Alpha egg, Mobis headset, Xunfei speech synthesis series chip, covering translation, family Artificial intelligence products in various scenes such as automobiles are presented one by one.
Behind this ceremonial exhibition, it includes the “heavy†layout of the branch from the traditional B-side business to the C-end.
The potential situation of the change, the story of the protagonist Ke Daxun Chairman Liu Qingfeng said in December 2017, "Overall, artificial intelligence will be developed on a large scale, but next year there will be a large number of artificial intelligence startups closed down."
Whose blue ocean?
This strategic level of change, within the University of Science and Technology, is positioned as "platform + track": with voice technology as the interface, education, justice, medical, transportation, smart city have become AI + track. This vocabulary has been continuously strengthened through media reports and research reports, and is well known to the market.
Especially in 2016, the AI ​​industry is celebrating its 60th anniversary. In this year, the three major business groups of Consumers, Smart Education and Smart City were officially established. Among them, Hu Yu, the second person of Keda Xunfei, served as the president of the consumer business group. The business group has a series of C-end products such as Xunfei Input Method, Lingxi, Xunfei, Smart Home, and Smart Toys.
Generally speaking, this will be a "old story" that will lead the industry leader to flourish. The protagonists include Apple, Google, Tencent and Ali. Although these companies have many twists and turns, they are all because of the industry. Bigger and get exponential growth.
However, in the field of artificial intelligence, the story has changed abruptly. This kind of change has shown the "new" competition logic in the major circuits of the University of Science and Technology.
For example, at the educational track, the reporter reviewed the 2016 annual report of the University of Science and Technology. The University of Science and Technology won the oral evaluation technology for the English-speaking test of the college entrance examinations in more than 10 provinces and cities in Beijing, Shanghai and Guangdong. The cumulative number of candidates exceeded 17 million. The College English Test Band 4 intelligent score application, and completed the smart score application pilot of the college entrance examination composition in Anhui, Jiangsu, Guangdong, Hunan and other provinces.
Keda Xunfei said that it has adopted the mode of “free application promotion and value-added operation services†in applications such as education.
Along with it, the industry unicorn and BAT are everywhere.
The dropout education established in 2014 has come out.
Dropout education developed the first self-adaptive learning engine “Squirrel AI†with independent intellectual property rights. Angel Wheel financing was added to 270 million yuan. Investors include Guokejiahe (Chinese Academy of Sciences), New Oriental, Good Future and even Yu Minhong. . It has opened 264 schools in 102 cities across the country, hoping to commercialize through offline school fees and online learning systems.
Similarly, in the medical field, the intelligent voice system of Keda Xunfei has landed in more than 20 hospitals including 301 Hospital, Ruijin Hospital and Peking University Stomatological Hospital.
At the same time, in 2017, Tencent launched the first AI medical imaging product - Tencent Film (MIAIS). Ali's AI medical product, ET Medical Brain, took hands with Huada Gene (165.780, -5.22, -3.05%) and Shanghai Huashan Hospital.
Huiying Huiying, a startup company focusing on medical imaging, won tens of millions of financings from CDH's C-round on January 8, 2018, and its diagnostic products have been deployed in more than 100 hospitals.
On the same day that Keda Xunfei appeared on CES, Baidu was also recruited with smart equipment.
Baidu showed its love for driverless driving. Its exhibits include Apollo Pilot and small-scale in-vehicle systems. Its partners include Beiqi, FAW, Chery, Jinlong Bus and Bosch.
This is also the layout track of the University of Science and Technology, which cooperates with Mercedes-Benz, BMW, Toyota, SAIC, FAW, Geely, Chery, Jianghuai, Guangzhou Automobile and other manufacturers, and also released the AIUI vehicle system flying fish assistant.
The competition is more intense on the visible consumer-oriented track.
According to Keda Xunfei, the smart TV business continues to be the industry's number one in the TV industry, with a sales volume of nearly 100,000 units in 2016.
Whether it is Ali's smart speaker Tmall Elf, Baidu's Fish VSI smart speaker, Sengled smart speaker light, PopIn Aladdin projector smart speaker, obviously make this track crowded.
Not to mention the entry of Spirent and Yunzhisheng, which are based on intelligent voice interaction technology.
"The besieged city" gradually became
In 2017, the share price of Science and Technology News was selected in the Ministry of Science and Technology's artificial intelligence "national team" in March, especially in May, all the way up to 64.77 yuan in August, rushed to 70 yuan in November, the market value once exceeded 100 billion yuan .
This performance is "taken for granted" in the rules of A-share players.
In order to implement the "platform + track" strategy, in the past five years, the University of Science and Technology has launched a series of mergers and acquisitions.
In June 2013, HKUST launched a 100% stake in Qiming Technology for RMB 480 million. In October 2014, it acquired a 100% stake in Shanghai Ruiyuan for RMB 210 million. In March 2015, it increased its capital by RMB 37.2 million. In 2016, it invested 18.1% in equity, and in addition to acquiring a 23.2% stake in Xunfei, with a capital increase of 100 million yuan, it also acquired a 100% stake in Lezhixing for 496 million yuan.
In addition, in April 2015, the University of Science and Technology's flight plan increased its funding by no more than 2.15 billion yuan for smart classrooms and online teaching cloud platforms and "Xunfei Super Brain" and other projects. In 2016, the amount of funds raised by 101 million yuan was changed to the acquisition of Xunfeichengcheng.
But you can also see the conservative side. When the reporter asked whether the University of Science and Technology News will be involved in the financial artificial intelligence business, one of its executives accepted an interview with this reporter and admitted that the most important layout of the University of Science and Technology is currently in the education field, and there is no plan to enter the financial industry on a large scale. .
However, on March 2, Guotai Junan’s analysis of investment bankers who have long been concerned about artificial intelligence is still predicting that “the moat may become shallower and shallowerâ€.
Despite the cooperation with Jingdong JIMI intelligent customer service and Baidu map, in addition to capital, big data, technology reserves and even market users, HKUST and BAT giants are more confrontational. This kind of confrontation, but there are few brokerage research reports.
The reporter tried to understand, but the three parties of BAT did not respond positively to their investment in artificial intelligence.
However, from the financial report, Ali's FY17 technology R&D investment was 17 billion yuan, Baidu's FY17 technology R&D investment was 12.9 billion yuan, and Tencent's FY17 technology R&D investment was 11.8 billion.
In 2014-2016, the research and development investment of HKUST is 518 million yuan, 577 million yuan, and 709 million yuan (29.18%, 23.08%, 21.36% of revenue).
In terms of big data acquisition capabilities, in order to obtain more users, HKUST has spared no effort to expand sales and management costs. In 2016, its sales expenses increased by 72.78%, and the management expenses in the first three quarters of 2017 increased by 60.57%.
As of the end of 2016, Xunfei's open platform developers reached 257,000 (up 133.8% year-on-year); the total number of users (independent terminals) reached 910 million in the past 18 months, and monthly active users reached 308 million (up 71.1% year-on-year).
In contrast, BAT's own traffic attributes provide a number of advantages for the market.
Ali, Tencent, and Baidu all have corresponding AI open platforms. Taking Baidu's DuerOS open platform as an example, DuerOS added more than 130 partners, more than 20 floor-to-ceiling hardware solutions, and more than 5 new DuerOS-equipped devices per month.
However, even with the card position, each family's artificial intelligence strategy has a focus.
2017 is the first year of Baidu's “All in†AI. On July 5, 2017, it announced the full transformation into an AI company.
Baidu Group President and COO Lu Qi mentioned that Baidu has opened more than 90 AI technology capabilities including voice, image, natural language processing, video, augmented reality, knowledge map and so on.
Tencent proposed "make AI everywhere. Tencent AI lab leader Yao Xing publicly stated 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 the investment of 100 billion yuan to establish Dharma Institute, which will establish a global laboratory covering 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 Orange tracked 1,131 artificial intelligence related companies, 1296 investment events, and historical investment and financing totaled 133.6 billion yuan. A number of venture capital firms such as Cambrian, Oracle, Horizon, and Yunzhisheng have emerged.
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