Chinese AI giant, SenseTime Group, thriving despite being in Trump’s blacklist
Sales are on track to climb 80 per cent during 2020
SenseTime Group, Chinese largest artificial intelligence company blacklisted by the Trump administration is prospering with growing demand for its facial recognition software, especially as local Chinese governments adopt its technology to combat coronavirus.
The Hong Kong-based start-up’s revenue surged 147 per cent to 5 billion yuan (US$720 million) in 2019 and its customer base increased by about 500 to 1,200 clients, according to co-founder Xu Bing.
Sales are on track to climb 80 per cent this year to about 9 billion yuan and gross profit could double, according to people familiar with the matter.