The supplier of Internet of Things (connected devices) signed a memorandum of understanding (MoU) with its two partners in Beijing, China, today in conjunction with the second Belt and Road Forum for International Cooperation.

The proposed park, said G3 Global, would serve as a platform for the development of AI solutions in the areas of computer vision, speech recognition, natural language and humanoids or robots.

“Ultimately, the park will enable the development of technology and talent, data management, research and development and commercial ecosystem.

“These could not only assist the government in addressing the data ecosystem and AI governance but also industry players,” the company said in a filing with Bursa Malaysia.

Under the MoU, G3 Global will coordinate with the relevant ministries and agencies to secure the necessary approvals to set up the park.

It will also form partnerships with Malaysian agencies, universities, enterprises, government-linked companies and other multinationals to spur the growth of the AI industry in Malaysia by using the park as a platform.

Hong Kong-based SenseTime, said to be the world’s biggest and most valuable AI startup, focused on computer vision and deep learning, will be the sole AI technology provider for the park and related initiatives unless it gives a written consent otherwise.

Meanwhile, Beijing-based CHEC will provide infrastructure engineering, construction, management and maintenance services.

G3 Global, which is 32% owned by Green Packet Bhd, said the non-binding agreement would not have any effect on the share capital and substantial shareholders’ shareholdings of the company.

The MoU is also not expected to have any significant effect on the G3 group’s earnings per share, net assets and gearing for the financial year ending Dec 31, 2019.