News Analysis
China’s leading artificial intelligence (AI) firms have had a stressful year in 2022. Some reported heavy losses due to the COVID-19 pandemic, the chip ban, and the U.S. sanctions over their role in human rights abuses in Xinjiang.
iFlytek Voice Recognition
On April 20, iFlytek, China’s voice-computer champion, reported a revenue of 18.82 billion yuan ($2.73 billion), a year-on-year decrease of 63 percent, for 2022 net profit.
The loss was caused by U.S. sanctions in 2019 and 2022, which affected the company’s operations, from its supply chain to getting contracts, according to the company’s report.
In 2019, iFlytek and seven other companies were placed on a U.S. trade blacklist over their role in assisting Beijing’s surveillance and human rights abuses in China’s Xinjiang region….