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(Yicai Global) Nov. 28 -- Baidu will build an innovation lab in Shanghai to team up with the eastern megacity in making municipal management smarter with advanced data collection tools.
Shanghai's government and Baidu penned a cooperation agreement, under which the tech firm will set up its artificial intelligence center in the city, state-backed Xinhua News Agency's reported yesterday.
"Baidu will increase its research and development investment, land more new modes, applications and products in Shanghai so as to make bigger contributions to the AI industry development and mega-city management in Shanghai," said Robin Li, the chairman and chief executive of the Beijing-based company.
Shanghai aims to build 10 leading AI innovation companies by 2020, with the expectation of the city's smart tech industry to be worth more than CNY100 billion (USD14.4 billion), according to a development plan issued last year.
Baidu Brain, which is a term that the firm uses for its AI assets which include autonomous driving tech, big data, and cloud computing, will be used to enhance the real economy, urban management, and residents' standards of living, state-backed The Paper reported yesterday. One of the objectives mentioned was also to help integrate the Yangtze River Delta region.
Editor: Emmi Laine