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Chinese ecommerce platform recently announced that the first round of its artificial intelligence (AI) support initiative, dubbed as AI Accelerator, has seen over 80 percent of participants deploying their solutions successfully.

The AI Accelerator was the latest effort in a long line of recent initiatives taken by The conglomerate has become one of the most prominent names in the technology sector in China, and is slowly expanding its reach across the globe with its foray into innovative technologies.

What is the AI Accelerator?

Simply put, the AI Accelerator is a financing division for startups that also specializes in providing supportive functions to these companies. This means that in addition to funding, the accelerator also helps its chosen startups and companies via its resources in legal, marketing, product, marketing, as well as training and development divisions.

This way, the AI Accelerator makes sure that firms have all the resources they may require in order to succeed in their development efforts.

In the initial round of this initiative, which started in August 2018, had enrolled 16 participants who had wanted to develop AI-based solutions.

By allowing them to have access to its various divisions and resources, including but not limited to its databases and algorithms, supplemented their growth in a propitious manner.

From there, these firms were able to deploy solutions through various businesses that catered to everyday use cases. For instance, one such solution that has been developed is 9KaCha, a wine search catalog. In this app, users could snap the picture of a bottle of wine they want to know more about or purchase on their own, and are provided with relevant results instantly.

Similar to this wine search app, has been able to supplement the development for many other solutions. With the success that it has seen in the first round of this initiative, the conglomerate is now focusing on the second round of the AI Accelerator.

This second round will see 17 participants making use of the resources that the has to offer. The technologies that will be explored under the lens of AI include but are not limited to 3D vision and online video.

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