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Port operations return normal after Tianjin blasts

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Beijing: Operations at the Tianjin port in China have returned to normal following warehouse blasts on August 12 that claimed at least 114 lives, the port authority said on Monday.

6583394_324383Port operations and ship traffic were partially suspended following the huge explosions at a warehouse for hazardous chemicals, Xinhua quoted an official as saying.

Its main shipping lanes resumed traffic the morning after Wednesday’s blasts, while operations at the berth and warehouse areas returned to normal on Monday, with the exception of areas close to the blasts site.

At least 114 people died and 95 others remains missing after the blasts.

The government continues search and rescue and cleaning hundreds of tons of toxic cyanide at the site while closely monitoring the environment.

The explosions stoked concerns about dragging down the booming growth of the Tianjin Binhai New Area, a key industrial park that made the city one of China’s fastest growing areas.

The Tianjin port is also a gateway to northeast China, transferring around 40 percent of imported cars.

(IANS)

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Real Estate Companies in India, China Adopting Artificial Intelligence

Additionally, the rising adoption of the machine and deep learning technologies by companies to automate their business model is also considered as one of the major factors contributing to this regional market’s growth, said the report

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Artificial Intelligence Bot
Artificial Intelligence Bot. Pixabay

The real estate companies in India and China are fast adopting Artificial Intelligence (AI) technology in the development of applications that comprise machine vision for easy analysis and surveying of buildings and structures.

Asia Pacific that contributes nearly 40 per cent in the global construction market, is estimated to be the fastest growing “AI-in-construction” market by 2024, Zion Market Research said on Monday.

The growth in Asia-Pacific “is owing to the extensive adoption of the AI-based platforms, such as machine learning and deep learning, code frameworks, and pre-built algorithms by the real estate companies in emerging economies, such as China and India”.

Additionally, the development of creating information modelling is software that gives information on a construction project, warranty details regarding material used, and commissioning data.

This has resulted in increased AI adoption by most of the construction start-ups globally for various applications, the findings showed.

According to the report, the global “AI-in-construction” market was valued at $312 million in 2017 and is expected to reach $3,161 million by 2024.

artificial intelligence, nobel prize
“Artificial intelligence is now one of the fastest-growing areas in all of science and one of the most talked-about topics in society.” VOA

“The construction sector is adopting AI to obtain precise data and insights to increase productivity, operational efficiency, and ensure safety at work. AI operates on algorithms related to image recognition to find out search criteria,” said the report.

In addition, the need for safety measures on construction sites is also projected to drive this market’s growth.

“Furthermore, huge investments made by construction companies from the emerging economies globally in the adoption of the advanced AI technology for construction applications is also likely to contribute toward the global growth of the AI-in-construction market,” the findings showed.

Also Read: Tech Giants to Face US House Hearings on Anti-trust, Cryptocurrency

Europe is projected to witness a remarkable rate of growth in the global “AI-in-construction” market in the upcoming years, due to the huge investments made by construction companies in AI technology for support, training, and digital platform.

Additionally, the rising adoption of the machine and deep learning technologies by companies to automate their business model is also considered as one of the major factors contributing to this regional market’s growth, said the report. (IANS)