Remark Holdings Announces Multimillion-Dollar Artificial Intelligence Contract to Help Companies Fight Intellectual-Property Piracy in China

News provided by

Sep 28, 2017, 07:57 ET

LAS VEGAS, Sept. 28, 2017 /PRNewswire/ -- Remark Holdings, Inc. (NASDAQ: MARK), a global digital media technology company, announced that Sefon, a Big Data services company headquartered in Chengdu, China, awarded a multimillion-dollar contract to Remark Holdings' KanKan subsidiary to help fight intellectual-property piracy in China.

KanKan will deploy its crawler network and artificial-intelligence-based object-recognition software to monitor content streamed via the Internet in China and identify instances of intellectual-property piracy. The proprietary technology will first be deployed in the Guizhou region, known as the hub of Big Data research and development in China.

"This new contract shows the breadth of our AI platform's capabilities. By having the superior data to back our AI models, we are able to build new products quickly and successfully in many different industries," said Kai-Shing Tao, Remark Holdings' Chairman and CEO. "In this case, KanKan AI quickly developed a useful tool to fight the long-existing intellectual-property piracy problem in China. With global companies like Alibaba, Tencent, and China Mobile already established in Guizhou, and with Apple having recently invested $1 billion in their first data center here, we are honored to be a Big-Data-backed AI company participating in the development of a technology hub in Guizhou, and you can expect more KanKan AI products to be released to the world from here soon."

Remark Holdings uses "deep learning", a type of algorithm-based machine learning that is used to model high-level abstractions in data, to train its artificial intelligence products. Utilizing KanKan's extensive data sets to train its KanKan Artificial Intelligence Platform with tens of millions of supervised and unsupervised samples allows Remark Holdings to develop models that extract facial features and recognize objects, such as branded logos, animals or license plates, with a high degree of precision. KanKan's facial-recognition and object-recognition technology, for example, has demonstrated an accuracy rate of more than 96 percent.

The KanKan Artificial Intelligence Platform is designed as a one-stop shop that will provide small to large enterprises and developers with the ability to customize and train their own artificial-intelligence models for their businesses, with stable and ready-to-use artificial-intelligence modeling stacks and pre-trained models. The platform has been successfully used to train models in high-precision facial recognition with more than 99.63% accuracy (ranked top 15 in the world), and in negative content filtering for topics such as pornography, terrorism, politically-sensitive information and more.

About Remark Holdings, Inc.
Remark Holdings, Inc. (NASDAQ: MARK) primarily focuses on the development and deployment of artificial-intelligence-based solutions for businesses and software developers in many industries. Additionally, the company owns and operates digital media properties that deliver relevant, dynamic content. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company's website at www.remarkholdings.com.

Investor Relations Contact:
Douglas Osrow
Remark Holdings, Inc.
[email protected]
702-701-9514 ext. 3025

SOURCE Remark Holdings, Inc.