Chinese Internet giant Baidu Inc. has agreed to acquire KITT.AI, a Seattle-based natural language processing start-up founded by Chinese entrepreneurs Yao Xucheng and Chen Guoguo. The pair plan to jointly develop natural language understanding technology as part of Baidu's intense push into AI.
No financial details were disclosed in a company announcement released Wednesday.
Baidu's chief operating officer Lu Qi has repeatedly said that Baidu is an AI company, stressing that the search engine operator is fully committed to transforming itself in that direction. The strategic move is viewed as a chance for Baidu to catch up with peers Alibaba and Tencent, which have both achieved great success during the mobile Internet boom, while Baidu has lagged behind.
The newly announced investment follows Baidu's strategic agreement last month...
This news article comes via , who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of China Money Network