BEIJING, Nov. 1, 2017 /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, today announced that management participated in a panel discussion and showcased its AI-enabled Intellectual Property Guiding Cases Service Platform ("IP Platform") at a seminar organized by Stanford Law School's China Guiding Cases Project ("CGCP"). The seminar was titled "On Building China's New IP Case System: A Discussion with Chinese Judges as well as Legal and Big Data Experts," and was held on October 19, 2017 at Stanford Law School.
Gridsum was represented by Mr. John Jiyang Liu, chief technology officer, Ms. Scarlett Huijie He, VP of business development, Mr. Meng Wang, general manager of Gridsum legal services division and a former Beijing Haidian District Court Judge, and Ms. Yi Shu, director of Gridsum legal services division and a former Beijing Haidian District Court Judge.
Mr. Liu also participated in a panel discussion alongside two judges from the Beijing Intellectual Property Court, Mr. Shuwei Jiang and Mr. Yijun Liu; as well as Prof. Leon Lee, executive director of the Case Law Research Center, School of Law of the Central University of Finance and Economics in Beijing; Judge William A. Fletcher of the United States Court of Appeals for the Ninth Circuit; Stanford Law School Dean Elizabeth Magill; and Dr. Mei Ying Gechlik, founder and director of the CGCP. During the discussion, Mr. Liu explained the functionality and technology behind Gridsum's AI capabilities and the IP Platform for legal case analytics as well as the Company's collaboration with China's Supreme Court. Mr. Liu also gave a live demonstration of the IP Platform, which was jointly developed by Gridsum and the Beijing Intellectual Property Law Association and designed for the Supreme People's Court's Intellectual Property Case Guidance and Research (Beijing) Base.
The seminar was organized by Dr. Gechlik and was attended by top intellectual property experts from China and the United States, as well as legal experts, law faculty and law students from the Silicon Valley area. The seminar explored topics including the enforceability of, and counterparty commitment to, judgements and rulings made by the Beijing Intellectual Property Court, whether the case law database will be open to the public, and whether foreign businesses and patent-holders will be able to use the system to protect their own intellectual property rights within China.
"I'm proud to have had the opportunity to showcase and discuss our AI platform's capabilities and how they can be applied to China's IP guiding cases system," commented Mr. Liu. "The IP Platform and its legal solutions form an integral part of our broader and comprehensive suite of legal solutions targeting China's 'Smart Court' initiative, along with prosecutors, law firms and others within the judicial ecosystem. We will continue to leverage our AI engine, including its real-time data analytics and massive processing power, to develop new and innovative tools for Gridsum's rapidly growing legal services division."
The rollout of Gridsum's legal services product suite is accelerating within China's court system as it becomes a "must have" product for the court system itself as well as law firms, corporations, and other related groups. This development further highlights the Company's expectations for solid triple-digit growth in revenues from its legal suite in 2017.
AI has been promoted to a higher level of China's national strategy, and the construction of a "Smart Court" system and "Smart Government" have also been positioned as important targets by the Chinese government. The Next Generation Artificial Intelligence Development Plan recently issued by the State Council outlined a goal of building an intelligent society and promoting intelligent social government. The plan is viewed as a key priority for the country and should help create new business opportunities for companies such as Gridsum that have rich experience in the AI and big data sectors.
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," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" 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. Gridsum may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Gridsum's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of 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; reduced demand for, and market acceptance of, Gridsum's solutions; difficulties keeping and strengthening relationships with customers; potentially costly research and development activities; competitions in the digital intelligence market; 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. Further information regarding these and other risks is included in Gridsum's reports filed with, or furnished to, the Securities and Exchange Commission. All information provided in this press release and in the attachments 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/.
Mr. Christian Arnell
Mr. Tip Fleming
Phone: +1 917 412 3333