Feb 08, 2024 08:06 PM

BUSINESS

China’s Software Service Providers Bet on AI Amid Funding Chill

By Liu Peilin and Wang Xintong

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Attendees of the World Artificial Intelligence Conference check out AI-generated virtual figures on July 8 in Shanghai. Photo: VCG

Attendees of the World Artificial Intelligence Conference check out AI-generated virtual figures on July 8 in Shanghai. Photo: VCG

The Chinese software service industry is heading into a capital winter as the buzz of the late 2010s and flood of investment have yet to generate any headline-grabbing success stories. But as downtrodden investors pull back from much of the sector, one niche is still attracting capital: software as a service (SaaS) combined with artificial intelligence (AI).

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