Hujiang, Shanghai's top online learning platform, said today that it will set up an online education fund with two partners, which aims to tap artificial intelligence.
Hujiang plans to invest heavily on AI to improve online learning experience with a new strategy "All in AI", said Fu Cairui, chief executive and chairman of Hujiang.
The fund is set up by Hujiang, government-backed FTZ (Free Trade Zone) Fund and Wenxin Media.
The annual size of the online learning market in China is worth up to 200 billion yuan (.8 billion), said industry insiders. The online language learning market grows by 20 percent annually, and "explosive growth" is possible by tapping new technologies like AI, said consulting firm iResearch.