SenseTime restructuring shifts focus from FRT to genAI

Time is up for SenseTime’s facial recognition business, at least as part of its core, with the company restructuring to pivot towards generative artificial intelligence.

The company is pursuing a strategy in which it combines its core of AI model and cloud development with industry-specific applications, South China Morning Post reports. The move, described by the company as “a repositioning of the company’s strategic direction and core business areas,” was anticipated, as the company deals with a saturated local facial recognition market and Entity List sanctions by the U.S. undercutting the sense in continuing with specialized face biometrics development, along with a stock sell-off and the death of a co-founder.

The company will not entirely discontinue its facial recognition operations, however, having just signed a deal to provide biometrics along with genAI and smart city technologies to Malaysia’s OCK Group Berhad.

SenseTime remains among the leaders in accuracy reported by NIST’s FRTE 1:N, tops in the Mugshot-Webcam category, with an algorithm submitted 23 months ago, in January 2023.

Article Topics

China  |  facial recognition  |  generative AI  |  research and development  |  SenseTime  |  stocks