SenseTime, a leader in facial technology, has shifted its business focus towards generative AI, experiencing a nearly 200% increase in revenue from this sector in 2023, totaling $163.4 million. The generative AI segment now represents 34.8% of its total revenue. Despite this growth, SenseTime has reported losses for the third consecutive year. The company is optimistic about the future, aiming for continued expansion in generative AI and striving to achieve profitability within the next two years. SenseTime’s new products include the SenseNova large language model and a Cantonese model for its SenseChat chatbot. The shift comes as the facial recognition market in China becomes saturated and following a U.S. investment ban due to alleged human rights abuses.
SenseTime Shifts Focus – Generative AI Spurs Revenue Surge
SenseTime’s generative AI business sees a robust 200% revenue jump in 2023.
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