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Review of the China-Israel Artificial Intelligence Industry Investment Summit of WAIC2020 Summit Online International Day

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Review of the China-Israel Artificial Intelligence Industry Investment Summit of WAIC2020 Summit Online International Day

July 10
15:32 2020

The China-Israel Artificial Intelligence Industry Investment Summit (hereinafter referred to as China-Israel Summit) of the 2020 World Artificial Intelligence Conference (hereinafter referred to as WAIC2020) Summit Online was successfully held on July 10th. As one of the important parts of the WAIC2020 Summit Online International Day, the China-Israel Summit was guided by World Artificial Intelligence Conference Committee Office, hosted by AI SPACE, co-organized by Shanghai Integrated Circuit Industry Investment Fund Management Co., Ltd. and New Alliance Capital Shanghai Israel Technology Fund and supported by Shanghai Investment Promotion Service Center.

With the focus on keywords like innovation, collaboration, investment and Shanghai, the China-Israel Summit connected China and Israel in an online form and invited leaders and guests including deputy director Zhang Ying of Shanghai Municipal Commission of Economy and Informatization, deputy director Jonathan Goo of Shanghai Investment Promotion Service Center, vice president of investment Bao Keshen of New Alliance Capital, CEO and co-founder Omer Keilaf of Innoviz Technologies and co-founder Tom Mayblum of Sonaris. In the China-Israel Summit, guests deeply discussed the development prospects of the artificial intelligence industry in China and Israel and also the issues of industrial and trade cooperation between the two nations.

China and Israel have a long history of cooperation and have also kept regular exchanges in the field of high-tech innovation. In the summit, Zhang Ying mentioned that the rapid development of the technology innovation industry in Israel is consistent with the policy goals of building an excellent city and introducing advanced technology in Shanghai. Also, Zhang Ying expressed full confidence in the prospect of China-Israel artificial intelligence cooperation by linking scientific and technological resources and creating an AI ecosystem. Jonathan Goo introduced the Shanghai Investment Promotion Platform to the audience and encouraged Israeli and other overseas companies to develop science and technology business in Shanghai.

Omer Keilaf from Innoviz showed the audience the achievements of high-tech cooperation between China and Israel in the field of AI autonomous driving at the summit. He held that China is one of the fastest-growing market in the field of autonomous driving in the world and extended his gratitude to Chinese institutions like New Alliance Capital for their investment. At the same time, he argued that Israeli high-tech firms could have a benign competitive development relationship with Chinese benchmarking companies in the efficient and transparent Chinese market and would bring new opportunity into Shanghai’s science and technology environment and conduct industrial collaboration with the huge application market so as to realize the added value together.

Bao Keshen, who has the project experience of investing in Innoviz, said that Israel binds both western and eastern elements and acts as a “bridge between the western world and China”. This uniqueness has also driven the country to vigorously develop the strategy of rejuvenating the country via science and technology, which is the reason why Israel focuses on research and production in the education and military fields and thus trains many talents daring to jump out of the comfort zone in the spirit of innovation. It is the geographical uniqueness of Israel and its strategy of rejuvenating the country via science and technology that together make this country “a power house in startups and innovation” which continues to provide a source of strength for the production of advanced technologies.

The guests also made valuable suggestions from different perspectives to Israeli companies interested in coming to China to seek new opportunities. Jonathan Goo called on Israeli companies with chip technology, biotechnology and AR technology to carry out related business in the Chinese market; Bao Keshen emphasized the competitiveness and dynamic of the Chinese market and reminded Israeli companies to make sufficient preparations before entering the Chinese market; Tom Mayblum, co-founder of Sonaris, who participated in the [email protected] International Camp of WAIC2019 last year, said that the International Camp not only helped his enterprise showed its own technology to Chinese market, but also provided him a better understanding of the Chinese market, so that he could successfully reach to potential Chinese customers, negotiate and cooperate with Chinese firms and eventually enter the Chinese market to conduct business.

When discussing the opportunities and challenges that China and Israel may face in the future, the guests all shared their optimism about the future development of artificial intelligence in China and Israel and upheld that “there is a great future ahead for Israel-China AI development”. Guests thought that Chinese companies are paying more and more attention to the cutting-edge AI technologies of Israeli startups and have also invested heavily in this area. This trend of investment will not stop in the future. In the process of the development of the AI industry in China, it is necessary to introduce the expertise and technologies from Israeli companies in order to promote the acceleration of the Chinese AI industry value chain. At the same time, the common values held by China and Israel will extend the mutually beneficial and win-win cooperation between the both sides.

Intelligent Connectivity, Indivisible Community. The China-Israel Summit helps China and Israel to create an open-source and open artificial intelligence ecosystem that brings together world-class innovative talents, thereby promoting the efficient transfer between innovative intelligence and achievements. It’s expected that in terms of outstanding projects and technologies, we can learn from each other, complement each other’s strengths and achieve deep integration, mutual benefit and win-win situation. The innovative cooperation between the two countries meets the fundamental interests of both the Chinese and Israeli people. In this sense, China-Israel cooperation has immeasurable potential.

What is AI SPACE?

AI SPACE focus on emerging AI enterprises and wait for you to change the world.

AI SPACE mainly specializes in three major brand projects: AI SPACE accelerator carrier, Artificial Intelligence World INnovations (AIWIN) and AI International Camp (known as [email protected] Camp). Charged with important tasks to which Shanghai Artificial Intelligence Development (SAIA) has entrusted, AI SPACE takes on AI industrial incubation and scenario docking . Relying on World Artificial Intelligence Conference (WAIC), [email protected] Camp helps high-quality enterprises and projects at home and abroad connect to each other. AIWIN selects excellent AI companies and groups and assists AI companies dock projects, scenarios and talents to promote the growth and development of AI groups comprehensively.

As a professional service platform for artificial intelligence, AI SPACE offline accelerator carrier has been recognized by the Shanghai Municipal Commission of Economy and Information as the “Small and Medium-Sized Enterprise in Shanghai” and is open in Chuangzhihui at Wujiaochang, Yangpu District, Shanghai, China. In the next three years, AI SPACE will set up 3-5 physical spaces in Shanghai, accelerate the building of about 100 artificial intelligence entrepreneurial teams and provide personal service for about 1,000 small and medium-sized enterprises. AI SPACE also provides membership services to all emerging AI enterprises. Our services include incubation acceleration for AI enterprises, application mining for AI scenarios, empowerment training for AI teams, investment and financing for AI project, AI policy services, etc. Join AI SPACE to enter the AI industry!

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