CISDI teams with Sinovation Ventures to boost AI

CISDI has entered into a three-way venture to boost applications for artificial intelligence in the global steel industry.

The company has signed a cooperative agreement with Sinovation Ventures and its Artificial Intelligence Institute.

By virtue of technology, talents and commercialisation, CISDI and Sinovation Ventures and AI Institute will cooperate on projects, product development and technical services for smart city and agribusiness intelligent operations.

Sinovation Ventures is an established Chinese early-stage ventures firm, started in 2009 by a team led by Dr. Kai-Fu Lee.

With offices in Beijing, Shanghai, Shenzhen and Silicon Valley, Sinovation currently manages a portfolio of over 300 companies across the technology spectrum in China and the U.S. worth an estimated $1.7B AUM (assets under management) spread between six USD and RMB funds.

It is one of the first Chinese ventures firms establishing a presence and investment practice in the U.S., where it is backing start-ups at seed, Series A and Series B stages.

It evaluates projects on their merit for the U.S. market, and their potential to eventually enter markets in China.

It strives to become the best "go to China" partner for the start-ups, while also transferring collective learnings from its Chinese portfolio into its U.S. practice.

Its AI Institute is committed to speeding up the integration of AI+B2B technology and real world applications by leveraging leading technological and research capabilities around the globe.

The AI agreement, signed by CISDI and Sinovation Ventures