Hujiang bets on AI with new online education fund

Hujiang, Shanghai's top online learning platform, said today that it will set up an online education fund with two partners, which aims to tap artificial intelligence.

Hujiang plans to invest heavily on AI to improve online learning experience with a new strategy “All in AI”, said Fu Cairui, chief executive and chairman of Hujiang.

The fund, established by Hujiang, government-backed FTZ (Free Trade Zone) Fund and Wenxin Media, will cooperate on capital and share resources to create a new eco-system.

The online learning market offers promising prospects in China, with the annual market size worth up to 200 billion yuan (US$30.8 billion), said industry insiders. The online language learning market grows at least 20 percent annually, and “explosive growth” is possible by tapping new technologies like AI, said consulting firm iResearch.

Shanghai-based Hujiang, which has set up a Hujiang Intelligent Learning Lab, has over 150 million users after being founded in 2001.

Ti Gong