An artificial intelligence robot writes Chinese calligraphy on Jan. 16, 2017 in Hangzhou, Zhejiang Province of China. Hangzhou is one of three recipients of $10 million AI centers from the agreement. (Photo : Getty Images)
China's largest beverage producer on Monday has agreed to invest an initial $10 million with the Institute of Automation of the Chinese Academy of Sciences and the University of Haifa to build three artificial intelligence technology centers in China and Israel.
The centers, which will house facilities in Beijing, Hangzhou and Haifa to research and develop AI for commercial applications, are financed by Chinese billionaire Zhou Qinghou, chairman and CEO of Hangzhou Wahaha Group, according to a report from online news magazine ISRAEL21c.
The agreement was signed in China in the presence of Israel's Prime Minister Benjamin Netanyahu and University of Haifa President Ron Robin, who were in the country for a three-day trip meant to improve business ties between the two nations and to celebrate 25 years of China-Israel bilateral ties, the report said.
China's Minister of Science and Technology Wan Gang and Israel's Minister of Economy and Industry Eli Cohen were also present during the signing.
Under the new deal, the centers will develop and industrialize cutting-edge technologies from the University of Haifa and the Chinese Academy of Sciences, including vision tracking through mobile devices, image processing, and big data for medical applications, 3D image learning, chip technologies and biometric identification.
The construction of the centers is expected to be completed in two years.
Economic pivot
The deal comes as Israel shifts its economy toward Asia over its old trading partners in the European Union and the United States.
"Israel is pivoting toward Asia in a very clear and purposeful way," Netanyahu told reporters in Singapore last month.
Israel's exports to China have reached $3.3 billion in 2016, three times more than the previous year, with the technology sector leading the way, according to Israel's Economy Ministry.
"Given the basic infrastructure of initial and secondary development--airports, sewage lines, water--once you've done that, the way to go up and up and up is to constantly improve your products and services and utilities with technology," Netanyahu said during a stop during his three-day visit to Beijing.
"We are your perfect junior partner for that effort," he added.
