Former Baidu metaverse head Ma Jie has reportedly joined Sinovation Ventures, an AI investment firm launched by tech industry veteran Kai-Fu Lee. According to 36Kr, a tech media outlet, Ma has also founded Lingyi Wanwu, a venture looking to explore the world of AI. Ma’s decision to switch to Sinovation came shortly after Baidu dropped its support to its metaverse unit, expressing more interest in AI technologies. This signalled a new shift in the industry brought on by the surge of generative AI, most notably the introduction of OpenAI’s ChatGPT in November 2019.
This triggered many experts in the field to move into related projects and applications, something which even Kai-Fu Lee took into account with the launch of his own initiative, Project AI 2.0. It is aimed at the development of ChatGPT-similar solutions as well as the creation of a thriving ecosystem for AI-powered productivity tools.
Sinovation Ventures is a Chinese venture capital fund seeking to invest in early-stage AI companies. The firm was founded by Kai-Fu Lee, a veteran in the tech industry, with the aim of helping entrepreneurs create world-changing technology. It has invested in a variety of AI-related projects, having strong ties to the field of artificial intelligence.
Ma Jie is a former Baidu executive who was part of the Metaverse unit. When the unit was disbanded due to Baidu’s decision to focus more on AI, Ma decided to move on to an alternative venture. Lingyi Wanwu, Ma’s newly created venture, is one such company and is looking to explore the possibilities of cognitive AI. Ma is well placed to understand and appreciate the needs of the modern AI sector and his appointment to Sinovation will be of great benefit to both parties.
