September 10, 2019 / 5:53 AM / 7 days ago

Baidu to invest $202 million in Chinese AI company Neusoft

A security personnel stands guard at the opening session of Baidu's annual AI developers conference Baidu Create 2019 in Beijing, China, July 3, 2019. REUTERS/Jason Lee/File photo

BEIJING (Reuters) - China’s search engine giant Baidu said on Tuesday it will invest 1.44 billion yuan ($202 million) in artificial intelligence firm Neusoft Holdings, with a view to collaborate in sectors such as smart cities and healthcare.

Baidu’s chief technology officer, Wang Haifeng, will serve as a board director for Neusoft, which was founded in 2011 in the northeastern Chinese city of Dalian, Baidu said.

Reporting by Yingzhi Yang and Brenda Goh; Editing by Himani Sarkar

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