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The Survival Rule of Start-Ups is to Stick to Long-Term Value

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Wang Yi DeepThink technology

We talked to Wang Yi, founder and CEO of DeepThink technology about artificial intelligence algorithm solutions and here is what he said about it.

First of all, how are you and your family doing in these COVID-19 times? 

Wang Yi: We are very good. In China, COVID-19 is well controlled, and it does not pose a threat to our health.

Tell us about you, your career, how you founded DeepThink technology.

Wang Yi: I graduated from Zhejiang University with a graduate degree. I have worked as CTO in several technology companies for more than ten years. In 2011, I started a face recognition technology company. In 2016, I founded a blockchain technology enterprise with my friends. In 2017, we founded DeepThink technology, focusing on providing artificial intelligence algorithm solutions for all kinds of enterprises.

How does DeepThink technology innovate? 

Wang Yi: Our company is based on market demand, around business problems, looking for new technical solutions, and all kinds of colleges and universities have close cooperation.

How the coronavirus pandemic affects your business and how are you coping?

Wang Yi: We have several AI projects that we work with our customers. Because of the impact of coronavirus, the cooperation has been suspended, and the company can’t operate during the epidemic period. Based on such a difficult situation, the company’s operation during the epidemic period adopts the mode of employees working at home. In terms of market, we focus more on the scene customers of machine vision and choose the customers with good payment ability.

Did you have to make difficult choices and what are the lessons learned?

Wang Yi: Yes, I often have to make very difficult choices. As a start-up company, it usually needs to solve all kinds of uncertainties, such as employee turnover and project technical problems. What I think about every day is how to make the company survive, better obtain customers and market. As a start-up company, you don’t have many resources, including capital and talent resources. You can succeed only if you put your heart and soul into it

What specific tools, software, and management skills are you using to navigate this crisis?

Wang Yi: We are an AI algorithm solution company. We usually work together and use various internet tools, such as zoom, webchat, GitLab, and so on.

Who are your competitors? And how do you plan to stay in the game?

Wang Yi: We have many competitors, big enterprises, such as Alibaba. There are also some start-ups of the same scale, such as Shangtang technology. In order to survive in the market, in addition to continuous improvement in technology and products, more importantly, we choose a market segment, so the competition will be much smaller.

Your final thoughts?

Wang Yi: To do something valuable to customers for a long time, slow is fast.

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I'm a passionate full-time blogger. I love writing about startups, how they can access key resources, avoid legal mistakes, respond to questions from angel investors as well as the reality check for startups. Continue reading my articles for more insight.

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