G3 GLOBAL COMMITTED TO A.I. PARK VENTURE
Firm and 2 other parties plan to invest up to US$1b over 5 years to promote R&D
G3 GLOBAL Bhd remains committed to the development of a 127ha artificial intelligence (AI) park, near here, with SenseTime Group Ltd and China Harbour Engineering Co Ltd (CHEC).
G3 Global managing director Dirk Quinten said the AI park would transform intelligent city living through digital technologies converging at incredible speeds.
“The AI park is conceptually designed to agglomerate AI-driven and cloud-powered technologies to accelerate the development of next-generation products and ser- vices such as smart cities, mobility, retail, education, robotics and healthcare as well as property technology and financial technology solutions,” he told the New Straits Times.
In April 2019, G3 Global signed a memorandum of understanding with SenseTime and CHEC to develop Malaysia’s first AI-powered “technopolis”.
The three parties plan to invest up to US$1 billion over five years to promote AI research and development (R&D) related to public service infrastructure.
CHEC is a subsidiary of China Communications Construction Company, one of the world’s largest construction companies.
SenseTime is a unicorn AI company en route to a year-end listing on the Hong Kong Stock Exchange to raise up to US$2 billion.
The company is valued at US$12 billion, according to the Financial Times.
“This park will be important for Malaysia as it would house the necessary AI research-related public service infrastructure as a base to nurture AI talent and promote AI technology in the country,” said Quinten, adding that one of the key components of the park was a hyper-scale data centre hub that would facilitate cloud computing and power the digitisation of enterprises.
G3 Global and its partners believe the park can catalyse upstream investment in technology manufacturing.