January 9, 2019
BEIJING, Jan. 9, 2019 /PRNewswire/ — Gridsum Holding Inc. (“Gridsum” or the “Company”) (GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence (“AI”) solutions in China, today announced it had placed third at the AI Challenger 2018 Global Contest (“AI Challenger”), an event co-organized by Sinovation Ventures, Sogou (SOGO), Meituan Dianping (3690.HK) and Meitu Inc. (1357.HK).
AI Challenger is an open dataset and programming contest for global AI talent. AI Challenger’s goal is to support the development of AI talent with high-quality and rich data resources, and to solve real world problems by accelerating the integration of research with business applications of AI. More than 10,000 teams from across the globe participated in this year’s contest. These teams competed in over 10+ brand-new datasets in different areas including opinion questions machine reading comprehension, English-Chinese machine translation, and fine-grained sentiment analysis of user reviews, which was the most popular category, where Gridsum placed third.
Online reviews are becoming the critical factor in making consumption decisions. Natural language processing (NPL) technologies in fine-grained sentiment analysis are the key to helping “the machine” to truly understand sentence structures and context. These technologies are hence more focused on the succession of a string of words, than on single word meaning, and perform high-accuracy sentiment mining on user comments. Effective application of these technologies target retail, e-commerce, catering, services and other user-review-involved scenarios.
Mr. Guosheng Qi, Chief Executive Officer of Gridsum, commented, “I am extremely pleased with our third place finish in the fine-grained sentiment analysis of user reviews category. We have consistently devoted resources towards NPL research. AI Challenger marks the first time we were able to apply our strong NPL capabilities in analyzing such a wide variety of user experiences and comments. I’m proud to see our team members challenging themselves to improve against such strong competition. We will continue to develop and innovate new AI and NPL solutions to better serve our clients and allow them to make better data-driven business decisions.”
Gridsum Holding Inc. (GSUM) is a leading provider of cloud-based big-data analytics and AI solutions for multinational and domestic enterprises and government agencies in China. Gridsum’s core technology, the Gridsum Big Data Platform and the Gridsum Prophet: Enterprise AI Engine, is built on a distributed computing framework and performs real-time multi-dimensional correlation analysis of both structured and unstructured data. This enables Gridsum’s customers to identify complex relationships within their data and gain new insights that help them make better business decisions. The Company is named “Gridsum” to symbolize the combination of distributed computing (Grid) and analytics (sum). As a digital intelligence pioneer, the Company’s mission is to help enterprises and government organizations in China use data in new and powerful ways to make better informed decisions and be more productive.
Safe Harbor Statement
This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “may,” “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Forward-looking statements involve inherent risks and uncertainties. Among other things, quotations from management in this announcement as well as Gridsum’s strategic and operational plans are forward-looking statements. Many factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to uncertainty about whether our American Depositary Shares, each representing one of our Class B ordinary share, will remain listed; unexpected difficulties in pursuit of our goals and strategies; reduced demand for our solutions; difficulties keeping and strengthening relationships with customers; potentially costly research and development activities; competition in the digital intelligence market; PRC governmental policies relating to media, software, big data, the internet, internet content providers and online advertising; and general economic and business conditions. Further information regarding these and other risks is included in Gridsum’s reports filed with, or furnished to, the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Gridsum undertakes no duty to update such information except as required under applicable law.