Chinese insurance giant Ping An has partnered with Ethereum (ETH)-based decentralized AI startup SingularityNET. The latter company declared the collaboration in an exceedingly press release published on Medium on March 14.

Per the release, the collaboration can initially specialize in Optical Character Recognition (OCR), computer Vision (CV) and model coaching. SingularityNET notes that the scope of the partnership is predicted to expand to multiple industries and initiatives in the future.

The announcement has been made shortly after SingularityNET formally launched a beta version of its Ethereum-based decentralized marketplace on Thursday, Feb. 28. In Jan last year, the corporate additionally declared a partnership with agriculture-focused blockchain startup Hara at the world web Forum.

Ping An is reportedly the world’s most valuable insurance company, ranked 10th within the Forbes global 2000 list of world’s largest public firms and it serves 170 million customers.

As Top Market Group reported in Nov last year, Ping and therefore the Sanya local government also signed a strategic cooperation agreement for “Smart City” construction involving blockchain.

The announcement notes that Ping An’s “One Minute Clinics” for medical consultations, that are unstaffed and use AI, are already in use in eight Chinese cities.

During the identical month, Top Market Group additionally reported that Ping an’s banking subsidiary Ping An Bank can launch a boutique bank using blockchain, cloud services and Internet of Things (IoT) tech.

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