JD.com launches new accelerator to develop AI and blockchain technologies
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JD.com, one of China’s largest e-commerce companies, has launched a new accelerator program called AI Catapult that focuses on blockchain and artificial intelligence startups.
Based in Beijing, AI Catapult will start with an inaugural roster of companies that include Bluzelle, a blockchain startup based in Singapore providing database services, Bankorus, a leading Chinese robo-advisory provider, CanYa, an Australian cryptocurrency startup, Nuggets, a London-based e-commerce payments and ID platform built on blockchain technology, Republic Protocol, an open source decentralized dark pool exchange, and Devery, a blockchain-powered product verification protocol.
JD.com said the purpose of the program is to partner with innovation startups to build new businesses and create real-world applications of their technologies at scale.
Uri Ferruccio, the director of strategy and investment for JD.com’s AI Platform and Research Division, said AI Catapult “will support JD.com as it explores how AI can improve the scalability, security, privacy and efficiency of blockchain, and enable novel and improved applications in areas such as distributed AI.”
Bowen Zhou, vice president of JD.com’s AI Platform and Research Division, added, “We are excited to work with some of the world’s most innovative startups to explore ways we can scale these cutting edge technologies for the future of retail and other industries, as well.”
The program will begin in March and will provide selected startups with the opportunity to cooperate with business units throughout JD.com’s retail business and implement their technologies.
The firm also plans to invest in the growth of the AI and blockchain ecosystem through future commercial, strategic and research partnerships.
JD.com already uses blockchain technology in its supply chain to track products and AI to control its logistics drones and automated package sorting centers. The firm joined the Blockchain in Transport Alliance earlier this month to explore the use of blockchain for global freight and logistics. It is also working with Walmart, IBM and Tsinghua University National Engineering Laboratory for E-Commerce Technologies on blockchain applications for food tracking, traceability and safety in China.
JD.com has over 266 million customers and recorded 658.2 billion RMB, or about US$100 billion, in gross merchandise value in 2016.
Questions & Answers
Q.Which specific technologies are the primary focus of JD.com's new accelerator program?
Which specific technologies are the primary focus of JD.com's new accelerator program?
The AI Catapult program is primarily focused on supporting startups developing artificial intelligence and blockchain technologies. This initiative aims to explore how these cutting-edge innovations can be scaled for retail and other sectors.
Q.Which company departments or business areas will the selected startups have the chance to collaborate with?
Which company departments or business areas will the selected startups have the chance to collaborate with?
Selected startups will have the opportunity to cooperate directly with various business units throughout JD.com’s retail business. This allows them to implement their technologies within the company's existing operations.
Q.How is JD.com already utilising blockchain technology within its current operations?
How is JD.com already utilising blockchain technology within its current operations?
JD.com currently uses blockchain in its supply chain to track products and is exploring its application for global freight and logistics. It also collaborates with partners on blockchain solutions for food tracking, traceability, and safety.
Q.What is the primary objective JD.com hopes to achieve by partnering with these innovative startups?
What is the primary objective JD.com hopes to achieve by partnering with these innovative startups?
JD.com aims to build new businesses and create real-world applications of the startups' technologies at scale. The goal is to improve the scalability, security, privacy, and efficiency of blockchain through AI.
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