(image: Korea Bizwire)
BEIJING, Sept. 7 (Korea Bizwire) — Gridsum Holding Inc. (“Gridsum” or the “Company”) (NASDAQ:GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence solutions in China, held the final contest of its Third Annual Gridsum Hackathon successfully in Beijing on August 19, with 16 cross-region, cross-division finalist teams. “Gridsum Deep Vision Dissector (GDVD)” designed by the employees from the R&D and Enterprise Business departments won the first prize, followed by the Intelligent Legal Case Result Prediction Engine, and Automatic Anomaly Detection in Digital Advertising. Gridsum’s DNA of world-leading innovation was fully demonstrated in the Hackathon.
The Gridsum Hackathon, now in its third year, promotes a defined culture of cutting-edge innovation. Teams compete in a fun, competitive, intense and genial environment, to push the envelope of what is possible with global “best of breed” big data and enterprise-focused AI technology. These teams develop technologies and applications directed toward adding value for enterprises and other organizations and towards enhancing Gridsum’s suite of SaaS solutions.
38 teams with 128 Gridsum employees competed in the Gridsum Hackathon this year. The teams have a hybrid composition, across company divisions and functions, with members from R&D, sales, HR and across business lines including Enterprise, Legal Services, New Media and Government.
Gridsum CEO Guosheng Qi spoke at the opening and encouraged contestants to think about “effective communication” of the projects focus and benefits, “high impact deployment” of the winning technologies into Gridsum’s solutions and “seamless integration” with Gridsum’s SaaS solution suite for clients.
Gridsum Deep Vision Dissector (GDVD) was the first prize winner this year. Powered by Gridsum Prophet, Gridsum’s Enterprise AI engine, GDVD recognizes products, company and brand logos, and other specific objects embedded in video streams and images with great accuracy. It uses deep residual neural networks to better extract image characteristics and create image recognition models through deep learning. This capability enables Gridsum’s industry leading Marketing Dissector suite of products and solutions to take advantage of visual data which has applications in all aspects of digital marketing, such as advertising monitoring and evaluation, brand protection, customer sentiment analysis, and effective marketing budget allocation across all digital channels and media platforms.
The Intelligent Legal Case Result Prediction Engine drives predictive analysis for criminal and civil cases across verdict outcome and expected penalty.
Automatic Anomaly Detection in Digital Advertising further adds to Gridsum’s click fraud detection canon with further applications of the technology anticipated across the company’s product development pipeline.
About Gridsum
Gridsum Holding Inc. 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, 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.
For more information, please visit http://www.gridsum.com/.
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. Among other things, quotations from management in this announcement as well as Gridsum’s strategic and operational plans contain forward-looking statements. Gridsum may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Gridsum’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: unexpected difficulties in Gridsum’s pursuit of its goals and strategies; the unexpected developments, including slow growth, in the digital intelligence market; reduced demand for, and market acceptance of, Gridsum’s solutions; difficulties keeping and strengthening relationships with customers; potentially costly research and development activities; competitions 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 in the regions where Gridsum provides solutions and services. 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 and in the attachments is as of the date of this press release, and Gridsum undertakes no duty to update such information except as required under applicable law.
Public Relation Contact:
Mingwei Pu
Tel: +86 (10) 8261 9988 ext. 8132
Email: bumingwei@gridsum.com
Source: Gridsum Holding Inc. via GLOBE NEWSWIRE
