BEIJING, Dec. 29, 2017 /PRNewswire/ -- Gridsum Holding Inc. ("Gridsum" or the "Company") (NASDAQ: GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence ("AI") solutions in China, today announced that it has partnered with Peking University Law School to establish the Peking University Legal AI Lab and Research Institute (the "Legal AI Lab") to focus on the analysis, development and application of AI across China's legal ecosystem.
The Legal AI Lab was officially launched today at a ceremony attended by Ms. Jingyi Ye, Deputy Party Committee Secretary of Peking University, Mr. Shouwen Zhang, Dean of Peking University Law School and Director of the Legal AI Lab, Mr. Xiaolei Yang, Vice President of Peking University Law School and Executive Director of the Legal AI Lab, and Mr. Guosheng Qi, Chief Executive Officer of Gridsum.
Mr. Guosheng Qi, Chief Executive Officer of Gridsum, commented, "We are excited to be at the forefront of China's legal AI development and to have the opportunity to work in close cooperation with globally renowned legal academic institutions and individuals. The combination of Peking University's highly-experienced legal community and our cutting-edge AI and big data technology will directly benefit the development and application of AI across China's judicial system as it migrates towards a 'Smart Court' initiative."
Gridsum will leverage its unparalleled capabilities in big data and AI, as well as its deep experience in developing enterprise-focused AI applications, to provide technical and research expertise to the Legal AI Lab. Gridsum is ideally positioned to support the Legal AI Lab having set the benchmark for the successful integration of AI into the legal system with the launch of the "Faxin Wei Su" Platform in November 2017, a litigation service on WeChat's micro application platform. Working in close partnership with Peking University Law School and the Legal AI Lab is another step in Gridsum's broader strategy of developing a comprehensive suite of legal solutions targeting courts, prosecutors, law firms and others within the judicial ecosystem. The rollout of Gridsum's legal services product suite is accelerating within China's court system.
In July 2017, China's State Council announced its "Next Generation of Artificial Intelligence Development Plan" which articulated an agenda for China to develop a first-mover advantage and become a premier global AI innovation center. China's Ministry of Industry and Information Technology recently announced a more detailed short-term action plan in a follow up to China's State Council's. In The "Three-year Action Plan for Promoting the Development of a New Generation of Artificial Intelligence Industry (2018-2020)," the government specifically targets the research of AI-related policies, laws and regulations that create a healthy and sustainable environment for the industry to grow.
Gridsum Holding Inc. (NASDAQ: 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, 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. 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 is as of the date of this press release, and Gridsum undertakes no duty to update such information except as required under applicable law.
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