Chinese AI Unicorn Megvii Announces Plan to Expand Footprint in Smart Logistics

Chinese AI Unicorn Megvii Announces Plan to Expand Footprint in Smart Logistics

Chinese artificial intelligence unicorn Megvii announced on Thursday its latest strategy of tapping the smart logistics segment, as the company seeks to explore wider applications of AI technology.

“In the traditional logistics, people are under high pressure and harsh work environment sometimes. Logistics costs have also been rising each year,” Tang Wenbin, co-founder and chief technology officer of Megvii said, “That’s where AI can join in to reduce costs and increase efficiency for companies and users.”

His statement came after the company launched seven new products on robots and smart logistics. MegBot-T800, the newly launched material transportation AMR, is able to run a maximum operating speed of 2.1 meters per second.

The firm also announced on the same day the establishment of an AI logistics industry alliance, which brings together over leading 30 institutions and enterprises in the field.

“Megvii has always adhered to software and hardware integration to accelerate the commercial implementation of AI. We hope to enable AI into smart logistics equipment, rather than competing with homogeneous products,” said Wang Hongyu, senior vice-president of Megvii.

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