V1 Group's "Shaolin" Research Institute Aims to Serve Corporate Development in terms of Cutting-edge Technologies
PRESS RELEASE PR Newswire
Nov. 13, 2017, 06:15 AM
HONG KONG, Nov. 13, 2017 /PRNewswire/ -- V1 Group Limited ("V1 Group" or the "Group"; Stock code: 82.HK) released its internal research report "Statements and Interpretations on the Digital Economy in China's latest policies". The report defines the digital economy, traces its history of development, predicts its developmental trends and outlook, and probes into its relationship with traditional industries.
At the Alibaba Cloud Workshop held on October 11, 2017, CTO Jeff Zhang announced Alibaba was launching a new global research institute -- the Academy for Discovery, Adventure, Momentum, and Outlook, or the DAMO Academy for short. In popular Chinese novels, the DAMO Academy is a top martial arts institution.
Less than one month later on November 4, Tencent inked a strategic cooperation agreement with Springer Nature, a world-renowned research, education and publishing group, in an attempt to recruit young scientists through the journal Nature and build a global platform for the latest technology.
On the same day, which was the eve of the Symposium on the Source of Innovation organized by the Stanford Business Executive Education, the Technical Institute of V1 Group Limited ("Institute of V1") released its internal research report "Statements and Interpretations on the Digital Economy in China's Latest Policies". While discussing the report with other executives, Dr. Zhang Lijun, Chairman of V1 Group compared the Institute of V1 to the Shaolin Temple, another symbol of supremacy in Chinese martial arts novels. He went on to say that while Alibaba has the DAMO Academy, V1 Group's "Shaolin Temple" focuses more on the alignment of strategies and real work.
V1 Group's "Shaolin Temple" Institute of V1
Founded in early 2017, Institute of V1 is committed to the R&D of cutting-edge technology, industrial research and product incubation regarding information technology and the Internet. Unlike Alibaba, who vows to "spend 100 billion yuan in three years" to "recruit top researchers from around the world" and "push technology boundaries forward," or Tencent, who aspires to build a platform of young scientists worldwide, V1 Group is focusing on making its research institute into a reliable technical support provider for its business development and strategic thinking in this era of the digital economy while actively engaging in technological innovation and international exchange.
Zhang explained, "In Chinese novels, the Shaolin Temple is the common origin of a great variety of martial art forms and represents the supreme level of martial arts. Institute of V1 works closely with top experts, other research institutes and prestigious universities around the globe in an inclusive, open, collaborative and mutually beneficial way to advance R&D in cloud computing, big data, security, video, artificial intelligence, the Internet of things and the block chain, etc. Our only mission is to serve corporate development. It's more practical."
Aiming at commanding heights in human resources, information and technology
Upon its inception, the Institute of V1 was designed by Chairman Zhang to be "practical". He demanded the institute to concentrate resources and effort on human resources, information and technology, seizing commanding heights in these three aspects.
Human resources come before everything else. Institute of V1 has recruited its researchers from other prestigious IT companies, research institutes and universities at home and abroad, including big names such as Microsoft, the Chinese Academy of Science, Tsinghua University, Peking University, Stanford University, Harvard University, Carnegie Mellon University and Nokia, and 70% of its researchers have a master's degree or above.
Information leads us to the forefront of research. Zhang stressed the necessity to grasp the trend of technological development so that the group may keep pace with the world's most advanced levels.
Technology is the core impetus for innovation and development. The mission of the research institute is to provide strong support for V1 Group's business lines in terms of cloud computing, the block chain, artificial intelligence and the practical application of technology. Liu Hu, former technology director for mobile device business at Microsoft Greater China who now serves as the head of the Institute of V1, said, "Our ongoing research projects cover the integration of videos and artificial intelligence, a high-speed video cloud and a smart allocation system, artificial intelligence, an end-to-end encrypted transmission system, medical data analysis platforms and block chain technology, and we have indeed made certain achievements in these areas. These cutting-edge technologies will be applied to V1 Group's ongoing and upcoming business projects." So far, the Institute of V1 has formed close R&D partnerships with research institutes at Microsoft, Alibaba, Tencent, Tsinghua University, Peking University and the Chinese Academy of Science, etc.
Liu Hu has laid down three priorities for the research institute based on developmental trends of the Internet and other cutting-edge technologies at home and abroad as well asV1 Group's business development strategies. First, to produce substantial effects in technological application, data management and talent recruitment and training for the group while paving the way for the explosive growth of its business lines. Second, to form close partnerships and conduct technology exchanges with other research institutes in the Chinese Internet industry so as to jointly promote technological advancement and innovation. Third, to actively engage in exchange, research and exploration in the global Internet industry, establish extensive contacts with international technology innovation centers, manufacturing innovation centers and business mode innovation centers, and launch global technology exchanges.
Amid the rapid progress of technology, the V1 Research Institute will focus on practical needs and build its technological prowess in a down-to-earth manner to distinguish itself from other research institutes and produce more tech professionals and innovation.
About V1 Group Limited
V1 Group was established in 2005, listed on the Main Board of Hong Kong Stock Exchange in 2006, became the first Chinese video media enterprise listed in Hong Kong. V1 Group Limited was named the "China's Top 100 Internet Companies" three years in a row from year 2014 to 2016. After eleven years of rapid development, V1 Group's main businesses have been fully covered the Internet and mobile terminals. In 2016, V1 Group successfully transformed from the new media industry group into a new economy in the internet industry, with extensive layout in new media, online games, internet healthcare, internet travel, internet education, internet finance and many other fields, which strive to build an internet life circle to solve the basic needs for users. V1 Group is now become an integrated new industry group in internet plus life field.
V1 Group IR website:
http://ir.v1.cn
SOURCE V1 Group Limited
