Quick take: G3 gains 4.5% as it reveals big AI push

KUALA LUMPUR: Shares in G3 Global Bhd edged higher in early trade on Wednesday after announcing its push into artificial intelligence (AI).

The apparel manufacturer and retailer rose 3.5 sen, or 4.52% to 81 sen.

G3 has signed a collaboration agreement with China’s SenseTime Group Ltd to develop new AI products and solutions while securing strategic opportunities with key industry players to spur digital innovations in Malaysia.

G3 will primarily be involved in promoting, managing and executing all business development activities for SenseTime’s products and technologies within Malaysia.

SenseTime, in return, will provide its industry expertise and knowledge which include technology and technical support, products & technologies training and periodic updates on new technologies to G3.

SenseTime was recently described by Bloomberg as the world’s most valuable AI start-up after it secured a valuation of US$4.5bil.

Last week, G3 has appointed Datuk Khan Mohd Akram Khan, 49, as the group’s new managing director. The group also appointed Wan Khalik Wan Muhammad, 46, as executive chairman.

Source : TheStar