'Smooth products from brilliant ideas': Barcelona's Chinese AI funding

The artificial intelligence (AI) market is set to be worth close to a trillion dollars by 2030, and while China and the U.S. lead the innovation at the moment, Europe is trying to get in the game too with a huge new investment.

In February the EU announced the biggest AI investment in its history - more than $200 billion - to create gigafactories, fund start-ups, and launch data-sharing schemes, aiming to become a real player in the AI revolution.

Experts say international collaborations are essential in this space, and one such collaboration is already taking place in Barcelona, Spain.

"We are actually helping our users to create image or video processing AI applications," Coovally co-founder Wang Guodong tells CGTN.

Automated factories, autonomous cars, domestic robots doing the housework, and even robot dogs are already a reality and AI is helping people all over the world answer questions, write emails, essays, speeches, scripts, and so much more. 

"For example, we also provide solutions for the metro [urban light rail] companies to create video applications for safety and security," says Wang.

'Creative mindset' needed for AI jobs

The Chinese company has invested over $6 million in Spain, putting its global HQ in Barcelona. But why?

"This kind of business can be run from anywhere in the world," says Li Liu, another Coovally co-founder. "Barcelona is a gateway to both European and Latin American markets and we think Barcelona also offers us excellent global connectivities.

"The city is very full of energy, it's a great place to live and there are many famous universities and research institutes. It's easy for us to find and reach the kind of AI talent we need." 

Wang says that the kind of people set to be employed in AI are different too, lateral thinkers who can use these new AI tools innovatively.

"I think AI is not just the usual software engineering, you need a creative mindset to join the team," he says. "Of course we want smooth products, but smooth products come from brilliant ideas.

"Barcelona not just a beautiful location, it's more about people, I think that's the main reason why we chose here." 

'We can achieve really great things for humanity'

Schahram Dustdar, an Austrian professor of computer science and another Coovally co-founder, says working together is vital. 

"I think it is necessary for the world, for the European Union, Europe and China to collaborate for multiple reasons," he explains.

"So for example, Europe has a strong focus on frameworks, ethical guidelines and things like this, but also innovation of course – we're thinking a lot about what are the consequences for society. 

"And China is very fast in the adoption of technologies, so whenever you want to demonstrate that an idea scales, you have to do it in China. If we put these two things together we can achieve really great things for humanity." 

Wang agrees: "Collaboration creates better achievement of the two societies and can make our lives better, help us provide better services to the world. My question is, why shouldn't we work together?" 

For Coovally, working together isn't just a good idea, it's essential as humanity aims for a safe future where AI is open and available to everybody.