Biz / Tech

Tencent Cloud inks deals to boost 'smart city' strategy

The agreement with China Mobile Group, Wonders Information and Shenzhen Holpe Commercial Chain Stock aims to help companies and government agencies utilize smart technology.

Tencent’s cloud computing unit has signed deals to work with three companies to push forward development of“smart city”strategy by helping more companies and government agencies utilize smart solutions.

The companies are the Jiangsu Branch of China Mobile Group, software service provider Wonders Information Co Ltd and Shenzhen Holpe Commercial Chain Stock Co Ltd.

“The amount of data accumulated in the past 10 years has surged 146 times with the wide spread of smartphones and connected devices globally,” said Qiu Yuepeng, vice president of Tencent and president of Tencent Cloud.

Companies, social organizations and government agencies face the challenge of handling massive amounts of data to boost their efficiency and rewrite business models, Qiu said.

An estimated 44,000 exabytes of data a year will be generated globally by 2020 — 37 times more the 1,200 EB generated in 2010 and data stored in data centers will quintuple to 915 EB.

Cloud computing and Artificial Intelligence algorithms are crucial in the digital revolution, Qiu told the Tencent Cloud Summit in Shanghai.

Internet companies are leveraging their large consumer bases and their technology infrastructure to collect and analyze vast amounts of data to boost efficiency.

Tencent Cloud said it aims to allow more companies from all industry segments to leverage its cloud computing technologies and algorithms.

It also unveiled plans to support startups with cloud computing and to allow them easier access to Internet and technology infrastructure.

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