Xiaozhu rolls out face recognition to room tenants

China's Airbnb rolls out check-in using face recognition. Xiaozhu.com on Monday announced the use of face recognition technology as a verify solution ahead of the peak Lunar New Year holiday season. Beijing-based startup booking website for daily rentals and short-term rooms will begin testing to meet the government's laws.

"Xiaozhu hopes to use the power of technology to find common ground with the authorities. Regulators can wait, but we can not stem the speed of technology," said Xiaozhu CEO Kelvin Chen.

Xiaozhu founded by Chen in 2012 has raised funding of US$271 million and has more than 200,000 lists in China and is present in 80 cities abroad. Airbnb in valuation of US$30 billion has about 120,000 lists in China after expanding its operations over the past two years.

Face recognition technology is growing rapidly in China as part of a wider push in artificial intelligence for application use from suspect identification in law enforcement to authorization of payments for fast food purchases.

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General Electric quarterly profit drops 28 percent

Tinuku - US industrial conglomerate General Electric Co reported a 28 percent drop in quarterly profit on Friday. GE confirmed its full-year EPS target adjusted from $1.00 to $1.07 per share, but cut its annual cash target to $6 billion from $6 billion to $7 billion and shares down 49 percent in the past year.

Investors are still interested in GE but many want to wait for strength and stable capital units before buying stocks. Losses widened at GE Capital to $207 million compared with a loss of $172 million a year ago. The electric unit's profit fell 58 percent in the quarter to $421 million from $ 994 million as orders fell 26 percent to $7.4 billion.

GE was the most valuable public company in the world in the past decade and a half, but has failed in some of the major industrial markets in recent years and its diversion into financial services led it into the eyes of a global financial storm in 2008. The 126-year-old company has cut costs aggressively selling the business and tr…

Masayoshi Son says Japan is stupid to disallow ride-sharing

Tinuku - SoftBank Group Corp CEO Masayoshi Son blasted Japan on Thursday for not allowing ride-sharing services, calling it “stupid” and saying the country was lagging overseas rivals in areas such as artificial intelligence (AI). Son has also been highly critical of the government previously when SoftBank was still a fledgling telecoms service trying to break up a cosy duopoly in Japan.

The comments reflect Son’s frustration with Japan where he built SoftBank’s domestic telecoms business, the cash engine that has powered his investments. The group has, however, focused its growing range of technology investments overseas. Japan outlaws non-professional drivers from transporting paying customers on safety grounds and the country’s taxi industry lobby has vigorously opposed deregulation.

“Ride-sharing is prohibited by law in Japan. I can’t believe there is still such a stupid country. A country that gives up on the future has no future,” Son said at an annual company event aimed at cus…

Hyundai Mobis increases AI scale to spur efficiency

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The AI-based software screening system, dubbed Mobis Artificial Intelligence Software Testing, jointly made with a professor of South Korea’s top science and technology university KAIST, will screen new software based on algorithm made by researchers. By automating the process, Hyundai Mobis expects to enhance work efficiency, shortening the time it takes to develop software while improving accuracy.

“With MAIST replacing 50-70 percent of researchers’ workload, they are now able to work in a creative environment, focus on speeding up software creation and boost capabilities in algorithm development,” Hyundai M…

Wipro increased Q1 net profit up 11% to $307.55 million

Tinuku - Wipro’s first-quarter net profit rises 11% to $307.55 million from $277 million in the preceding three months. Wipro Ltd on Friday reported first-quarter earnings that beat analysts expectations, primarily on account of gains made from divestment of one of its businesses.

India’s third biggest software services exporter guided for revenue to grow at best 2.3% in the current quarter, leading some analysts to believe that while Wipro’s sequential growth is improving, it is still far from turning the corner.

Bengaluru-based Wipro’s dollar revenue declined 1.7% (improved 0.1% in constant currency terms) to $2.03 billion in the quarter ended 30 June from the preceding three months, after it had earlier outlined quarterly growth of at best 0.2% in constant currency terms. Wipro, which gives only quarterly growth outlook, expects to grow its revenue between 0.3% and 2.3% in constant currency terms in the July-September period from the preceding quarter.

“I’m happy with our performan…

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