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Alibaba bought Infinity Augmented Reality Israel, which produces augmented reality

Chinese online sales leader Alibaba bought a startup from Israel called "Infinity Augmented Reality Israel". The project is developing the technology of artificial reality.

Geographically, the company is located in Ramat Gan and is already the second acquisition of a Chinese company in Israel.

Details of the transaction are not yet known. But the financial analytics website TheMarker claims that the cost of the purchase is millions of dollars.

The development company "Infinity" is a technology that helps developers engaged in the development of applications for portable devices, to provide users with augmented reality and a natural and intuitive user interface.

The startup began its work in 2012 and currently has raised $ 25.5 million in capital, the investors are the Israeli VC Singulariteam, the Japanese company Sun and the e-commerce giant Alibaba. These companies are developing software for mobile devices.



Chinese giant is creating smart cities

One of the Chinese e-commerce giants called presented a division of JD iCity. The unit will create smart cities. For this purpose it is planned to use machine learning and “turnkey” big data.

According to information from the South China Morning Post, innovative technologies will find application in the management of transport and traffic. It is also planned to develop a local rating system. It is also intended to introduce a smart parking organization and a program to save energy. Vice President Yu Zheng says that improving cities will improve the lives of the people, and will also make the management of the city more rational. According to the president of the e-commerce giant, the company will use its own accumulated information. and also collect information on the ground. According to statistics, at the moment the services of the company are used by more than 300 million people.

The important point is that the company can already demonstrate a successful example of introducing its own services in the urban environment. This is a social rating system, which is already being tested in the Chinese city of Suqian. Now citizens and businesses are assigned an assessment of reliability. To compile the rating, the company uses information from its own services, as well as information from local authorities.

It is worth noting that the residents of this city receive their rating according to different schemes. The algorithm of artificial intelligence helps to find an individual approach to each person. The president of the company cited the following example: when a person wants to rent a bicycle, the system will not take into account his real estate, but when the same person goes to take a loan from a bank, the system will necessarily take into account the availability of real estate.



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