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Researchers of CloudWalk Technology demonstrate their facial recognition technology for cross-border person re-identification (ReID) in Chongqing's Liangjiang Digital Economy Industrial Park on Aug 24. [Photo/liangjiang.gov.cn]

At the Summer Davos Forum in Tianjin on Sept 19, CloudWalk Technology, a startup in Chongqing's Liangjiang New Area, was listed in China's top 50 AI companies.

The company was also rated as one of the most successful and most promising AI companies in China.

After its establishment in 2015, CloudWalk took only three years to become a unicorn in the AI industry and a leader in the world's computer vision market.

According to a recent report from Gen Market Insights, CloudWalk currently holds a global market share of 12.88 percent, higher than the combined shares of the second and the third.

CloudWalk's facial recognition system on display [Photo/liangjiang.gov.cn]

The AI unicorn controls over 70 percent of the domestic market share in banks and airports. The Agricultural Bank of China will deploy CloudWalk's facial recognition devices at its 20,000 branches and outlets thanks to a deal made between the two parties last October.

In April, CloudWalk made a major breakthrough in its cross border person re-identification, rewriting the world records for three major datasets: Market-1501, CUHK03, DukeMTMC-reID.

Earlier in February, the company released its 3D structured light facial recognition technology, ending Apple Inc's monopoly in Face ID.

CloudWalk's 3D structured light facial recognition device on display [Photo/liangjiang.gov.cn]

The technology has an accuracy rate of over 99 percent and shortens recognition time to milliseconds. Fraudulent means like facial masks will not stand a chance.

CloudWalk has raised 500 million yuan ($73 million) in its B-round of financing and expanded its R&D centers to Shanghai, Guangzhou, Suzhou and Chengdu. The company has also received one billion yuan in financial support from the regional government to develop a national AI project.

Relying on the superior resources of Liangjiang New Area, the company is committed to boosting the AI and big data industries in West China.

CloudWalk is going to take full advantage of its technologies, databases and platforms to construct an integrated AI industry chain in Liangjiang and help Chongqing's smart city development.

As a national-level development zone, Liangjiang New Area will pursue big data development through continued ingenuity and innovation. It aims to become a pilot smart area and gathering place for high-end talents and digital enterprises from home and abroad.