Chinese Insurance Firm Ping An Collaborates With Decentralized AI Startup SingularityNET

Through a Medium post, SingularityNET has revealed that it has joined hands with Ping An, a Chinese insurance company, to focus on Optical Character Recognition (OCR), model training and Computer Vision (CV).

The Ethereum (ETH)-based decentralized artificial intelligence (AI) startup has pointed out that the extent of collaboration is anticipated to widen to several industries and initiative in the forthcoming future.

The details were divulged soon after SingularityNet unveiled a beta version of its Ethereum-based decentralized marketplace two weeks before. Back in January, at the World Web Forum, the firm divulged a partnership with Hara, a blockchain startup focusing on agriculture.

Ping An, perceived as the insurance company of highest value, serves 170 million customers, and listed in the tenth place in the Forbes Global 2000 list of world’s top public companies. Last November, Sanya municipal government and Ping An signed a strategic cooperation deal for “Smart City” development involving blockchain.

The press release further states that “One Minute Clinics” of Ping An, offering medical consultations, does not employ and staffs and use AI. The system is presently used in eight cities of China.

Again in November, Ping An’s banking subsidiary Ping An Bank will unveil a boutique bank using blockchain, Internet of Things (IoT) technology and cloud services.