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So, what propels iflytek forward in technology innovation? One key factor is its devotion to research and development (R&D). The company has set up a complete R&D system in its birthplace, Hefei City in Anhui Province, said Liu, and for the past five years, the company has poured one quarter of its sales revenue into R&D, five times more than the average level of internet companies.
The intelligent voice and AI industries are emerging in Anhui as an AI ecosystem, centered on iflytek. Aiming at building an industrial chain, the industrial park China Speech Valley began construction three years ago, and is now home to over 70 enterprises. In 2016, 42 investment deals worth 1.5 billion yuan were signed there.
With a broad vision for AI’S future, iflytek has set up an intelligent interaction service platform for global developers to access its core technology. More than 300,000 business starters have enjoyed the service, and that number is increasing.