BEIJING, Sept. 26, 2018 /PRNewswire/ -- Gridsum Holding
Inc. ("Gridsum" or the "Company") (NASDAQ: GSUM), a leading
provider of cloud-based big-data analytics and artificial
intelligence ("AI") solutions in China, announced today that
it successfully concluded its Fourth Annual Gridsum Hackathon on
September 15, 2018 with 16
cross-divisional teams participating in the finals. The winning
projects included the Gridsum Smart Verdict technology in first
place, followed by the Integrated Management Platform for Text and
AI Learning, and the Intelligent Q&A System for Legal Services
which jointly took second place. Gridsum's Legal Division was
presented with the newly established "Promote Innovation Award" to
honor its active participation and leading role in promoting
innovation.
The Gridsum Hackathon, now in its fourth year, has been one of
the key drivers in supporting Gridsum's innovative culture and
generating momentum for turning new ideas into business solutions.
The teams combine cutting-edge technology and industry expertise to
create better value-added solutions for customers, strengthening
the Company's mission of "transforming the industry with technology
while promoting social development."
This year, the Company had a record breaking number of
participants and projects that competed in the Gridsum Hackathon,
with 46 teams formed by 164 Gridsum employees across various
departments and regions. This was also the first time that the
Company had invited guest judges and award presenters.
Mr. Guosheng Qi, Chief Executive Officer of Gridsum, spoke to
contestants at the opening of the Hackathon, commenting, "I am
both excited and proud as the number of participants in this
year's Hackathon has reached a record high. We are determined to
leverage our innovation and technological capabilities to empower
the advancement of our industry. With a team like ours, I have
every reason to believe that we will make greater achievements in
the future."
Among the 16 finalists, over 50% of them adopted knowledge
mapping techniques, over 70% implemented machine or deep learning,
and over 85% adopted natural language processing (NLP) into their
projects.
The Gridsum Smart Verdict project placed first, a smart court
assistance system that leverages NLP capabilities to create an
algorithm that provides verdict prediction in the shortest amount
of time. The system has already been recognized in the 2018 Chinese
AI and Law Challenge (CAIL2018), which further demonstrates
Gridsum's leading achievement in the legal sector.
Following in second place, the Integrated Management Platform
for Text and AI Learning, combines two transforming innovations,
Automatic Machine Annotation and a self-training model called Auto
Machine Learning.
The Intelligent Q&A System for Legal Services, leverages a
text classification model in deep learning, along with domain
entity recognition and slot-filling capabilities to analyze
questions and manage conversations, resulting in high-quality
consulting recommendations.
About Gridsum
Gridsum Holding Inc. (NASDAQ: GSUM) is a leading provider
of cloud-based big-data analytics and AI solutions for
multinational and domestic enterprises and government agencies
in China. Gridsum's core technology, the Gridsum Big
Data Platform, is built on a distributed computing framework and
performs real-time multi-dimensional correlation analysis of both
structured and unstructured data. This enables Gridsum's
customers to identify complex relationships within their data and
gain new insights that help them make better business decisions.
The Company is named "Gridsum" to symbolize the combination of
distributed computing (Grid) and analytics (sum). As a digital
intelligence pioneer, the Company's mission is to help enterprises
and government organizations in China use data in new and
powerful ways to make better informed decisions and be more
productive.
Safe Harbor Statement
This announcement contains forward-looking statements. These
forward-looking statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These statements can be identified by terminology such as
"may," "will," "expects," and similar statements. Among other
things, quotations from management in this announcement as well as
Gridsum's strategic and operational plans contain forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. Many factors could cause actual results to differ
materially from those contained in any forward-looking statement,
including but not limited to the following: unexpected difficulties
in Gridsum's pursuit of its goals and strategies; the unexpected
developments, including slow growth, in the digital intelligence
market; unexpected difficulties and potential delays in filing
annual or other reports with the SEC; PRC governmental policies
relating to media, software, big data, the internet, internet
content providers and online advertising; and general economic and
business conditions in the regions where Gridsum provides solutions
and services. All information provided in this press release is as
of the date of this press release, and Gridsum undertakes no duty
to update such information except as required under applicable
law.
For more information, please
visit http://www.gridsum.com/.
Investor Relations
Gridsum
ir@gridsum.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
Email: carnell@christensenir.com
In U.S.
Mr. Tip Fleming
Phone: +1 917 412 3333
Email: tfleming@christensenir.com
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SOURCE Gridsum Holding Inc.