Accenture Acquires Minority Stake in Chinese AI Startup

Accenture has acquired a minority stake in Shenzhen, China-based security startup Malong Technologies. The company is focused on developing AI technology for retail and business applications. Its primary technology, ProductAI, enables visual search and tagging via artificial intelligence. The solution also enables the detection of defects in manufacturing, scanning baggage and analysing medical images. This constitutes Accenture’s first investment into the Chinese market. Malong is supported by and, in some cases, has investment from a number of Chinese and US companies, including Microsoft Ventures, eBay, Nvidia, Tsinghua University The two companies have also entered a strategic alliance. The alliance will be focused on developing industry solutions and executing go-to-market strategies. As part of the agreement, Malong Technologies has designated Accenture as its preferred systems integrator and consulting partner. Accenture Chief Technology and Innovation Officer Paul Gagherty said in a statement: “Our alliance and investment in them ensures that Accenture and our Applied Intelligence practice will stay ahead of the curve when it comes to offering clients innovation through AI and intelligent technologies, across industries and countries.”