China's top ICT solutions provider Huawei Technologies has been developing AI processors, which are set to be released by the end of 2017.

Richard Yu, CEO of Huawei's Consumer Business Group, has revealed the company will debut an application processor featuring combined functions of CPU, GPU and AI.

Huawei hopes to compete well with Google and Apple in the new sector of AI application processors, Yu said when speaking at the 2017 China Internet Conference, which opened July 11 for a three-day run in Beijing.

Yu also noted that Huawei's thematic EMUI (emotion user interface) for smartphones boasts deep machine learning and smart computing capability. Through its compression technology, Yu claimed, the 3GB memory of Huawei's smartphones can perform better than the 4GB memory of other smartphone brands.

The Chinese company also ranks among the world's top-3 providers of basic cloud services, recording over seven million users in more than 80 countries worldwide.

Yu also disclosed that Huawei 970 mobile SoC processor will be designed based on financial security requirements, in order to support credit transfers among banks.

He went on to highlight that Huawei's smartphones will be installed with security chips, so that they can be directly used as car keys for BMW, Benz, Audi and Porsche cars.