SingularityNET has announced a partnership with one of the world’s largest public companies.

The artificial intelligence project says it will collaborate with Chinese conglomerate Ping An Technology, which ranked 10th in the Forbes 2018 Global 2000.

SingularityNET says Ping An is recognised as the world’s most valuable insurance brand, with 170 million customers and 459 internet users.

“The scale of Ping An provides considerable opportunities to showcase the benefits of AI application,” said SingularityNET CEO Dr Ben Goertzel.

“We are currently discussing how to integrate SingularityNET infrastructure with Ping An’s IT infrastructure in order to analyse the different types of data available.”

SingularityNET says the collaboration will initially focus on three main areas: Optical Character Recognition (OCR), Cross Validation (CV) and model training.

“Generally speaking, successful AI applications require at least four ingredients — AI algorithms, data, computer power, and human understanding of the problem domain,” Dr Goertzel said.

“Between SingularityNET and Ping An we have all four of these in abundance, and so I am confident we will be able to do great things together.”

At the time of publication, the price of SingularityNET’s token (AGI) had risen 14% since the announcement.