To date, more than 1,000 teams have joined the second Guangzhou Pazhou Algorithm Competition.

More than 1,000 teams join the second Guangzhou Pazhou Algorithm Competition. [Photo/WeChat account: gzhzfb]

This year's competition has the slogan of "Optimize AI algorithms, make the world smarter" and is organized by the Guangzhou municipal people's government.

Prizes have been set up for the champion, runner-up, and third runner-up winners. The competition has also added a special grand prize of 1 million yuan ($141,486). In addition, participating enterprises can also obtain multiple rewards by publishing competition lists as well as attracting policy, investment and financing support.

The competition committee plans to hold the scheme innovation, algorithm selection and challenge competitions. Competitors in the scheme innovation competition may focus on five options: green energy, intelligent transportation, intelligent manufacturing, e-commerce and cutting-edge technology.

The algorithm selection and challenge competitions are both new categories in this year's event. Competitors in these categories will think of solutions to problems that are brought up by government departments, scientific research institutions and well-known leading enterprises based on current industrial difficulties.

The competition has set up a judging committee, which is headed by Chen Junlong, a foreign academician of the European Academy of Sciences, Wei Shaojun of the International Eurasian Academy of Sciences, and Xie Shengli of the Russian Academy of Engineering.

The competition's registration process, preliminary rounds, semi-final rounds, finals, and award ceremony will be held both online and offline. In early July, online material reviews will take place for the preliminary round of the competition. The next round, in late July, will also take place online, while the finals will be held in August.