Face-recognition business puts SoftBank between China, U.S.
The Hindu
The JCV-SenseTime partnership highlights SoftBank’s difficult balancing act as Son tries to position his conglomerate as a neutral player even while tensions mount between two key markets, the U.S. and China
A SoftBank-owned company is thriving by offering face-recognition technology fuelled by a blacklisted Chinese firm to the likes of Mastercard and Visa, an opportunity for the Japanese conglomerate, fraught with geopolitical and privacy risks.
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Japan Computer Vision Corp (JCV), owned by SoftBank Group Corp's wireless unit, has struck deals on payments in recent months, a potential breakthrough for SoftBank founder Masayoshi Son's dream of driving new business through partnership between his tech investments.
If JCV sustains its expansion, it could become a standout example of SoftBank creating synergies with portfolio companies - a key part of Son's sales pitch to the tech industry.
But the surge faces risks as the facial-scanning system it offers to U.S. heavyweights Mastercard Inc and Visa Inc uses technology from SenseTime Group, a Chinese firm blacklisted by the United States over human rights concerns.
The JCV-SenseTime partnership highlights SoftBank's difficult balancing act as Son tries to position his conglomerate as a neutral player even while tensions mount between two key markets, the United States and China.
The billionaire said last month SoftBank is taking a cautious approach towards China due to a regulatory crackdown there that has roiled its portfolio.
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