Attitude down icon An icon within the form of an attitude pointing down. Tang Xiao’ou, professor of the Chinese language College of Hong Kong, speaks right through the outlet rite of 2023 Global Synthetic Intelligence Convention at Shanghai Global Expo Exhibition and Conference Middle on July 6, 2023 in Shanghai, China. VCG by means of Getty Pictures Tang Xiao’ou, the billionaire founding father of China’s AI massive SenseTime, died Friday.The corporate introduced he’d succumbed to undisclosed “well being problems.”He died simply weeks after the company was once accused of artificially inflating its income. Tang Xiao’ou, the billionaire founding father of China’s AI massive SenseTime, died Friday of undisclosed “well being problems,” in line with a remark launched via the partially state-owned corporate.”It’s with nice sorrow that we announce the passing of Professor Tang Xiao’ou, our liked founder, a famend synthetic intelligence (AI) scientist, director of Pujiang Lab, director of Shanghai AI Lab, and Professor of The Chinese language College of Hong Kong,” learn a remark from SenseTime launched early Sunday in China. “Professor Tang gave up the ghost because of well being problems on December 15, 2023, at 11:45 p.m.”The obituary posted via the corporate didn’t specify what form of well being problems Tang died of or if his sickness have been up to now identified.The arguable Chinese language AI corporate, based in 2014, was once as soon as the sector’s Most worthy AI startup due partially to its direct connections and investment from the Chinese language executive. The corporate develops applied sciences, together with facial reputation, object detection, and video and symbol research the use of AI. Representatives for SenseTime didn’t in an instant reply to a request for remark from Trade Insider.Tang’s dying comes simply weeks after a US-based short-seller, Grizzly Analysis, accused the Chinese language AI company of artificially inflating its income, suggesting that SenseTime engaged in “extremely questionable income round-tripping schemes” wherein the corporate at once or not directly equipped budget to shoppers that had been used to buy items from SenseTime that would possibly not have ever been delivered.”We imagine that SenseTime’s core facial reputation trade has grow to be notoriously unprofitable because of intense festival and the truth that the Chinese language executive merely does now not make a convention of awarding extremely winning contracts to majority foreign-owned companies,” Grizzly Analysis mentioned in its file launched in past due November.Regardless that the corporate argued in a submitting to the Hong Kong Inventory Trade that the file was once “with out benefit and accommodates unfounded allegations and deceptive conclusions and interpretations,” SenseTime’s inventory was once however deeply impacted via the accusations, falling just about 10% within the wake of the inside track, bringing its general losses to greater than 40% to this point this yr — and greater than 80% since its IPO, Forbes reported. On the time of his dying, Tang had a web price of $1.1 billion, made up totally of the price of his stocks in SenseTime, in step with Forbes. NOW WATCH: Standard Movies from Insider Inc. Loading…
