China has already started the groundwork that is going to set the stage for the country to lead the world in AI by 2030. Last year, the state council revealed its three-step path creating a framework for how it intends to develop AI in the country and how it will be applied in areas, ranging from city planning to the military. With a large surge of investments, China is currently on track to meet its goal by becoming a global leader in this field.
U.S. based companies such as Google, Apple, Facebook and IBM were the places where the majority of innovation in artificial Intelligence took place. Only one year down the line since China’s announcement, they have already started to close the gap with their own set of tech giants, namely Alibaba, Baidu and Tencent. It is expected that due to the large flow of investments towards AI in China, they will have caught up with the current leader by 2020, be better than their competitors by 2025, and have full control over innovation by 2030. China has already started to make waves in the Global AI field with its latest innovations and partnerships. Here are few of the new updates regarding where China is at now in regards to AI.
Influx of Startups
In 2017, China accounted for 48% of the world’s total AI startup funding, and that number is set to increase this year. China is backing entrepreneurs in this field with the use of subsidies and generous policies that will make it easier for them to grow and develop the AI industry in China. Currently, China has created the perfect environment for any new startup to come in and succeed in the industry.
With the help of Industry giants in China, these new startups can get the financial backing to enter the market with a force. A great example of this is the $600 million that was raised by the AI startup Sense Time when they made a deal with tech giant Alibaba. By creating the perfect conditions for new companies to enter the Industry, China is on course to reach its target.
Application
Due to the nature of Artificial Intelligence is, its application possibilities are endless. From the military to the medical field, it can be integrated into any developed field.
In a big reveal, China’s state news agency, Xinhua, displayed its first set of AI news anchors that will report the news to its audience all day, every day. In just a short time span, China was able to complete and apply AI news anchors for commercial use. This shows the mainstream applications of AI which the rest of the world has yet to think off. Currently, all the companies involved in the country are working in various fields and are looking at unique applications to push each of those industries forward as well as that of AI.
With advantageous tools, such as the largest consumer database in the world, and with the government making it easier than ever, companies have everything they need to blow the world’s expectations. The current rate at which the industry in China is moving, they will easily achieve the target set out by them.
Primary: Investment
Secondary: AI
News Sources:
https://www.theguardian.com/world/2018/nov/09/worlds-first-ai-news-anchor-unveiled-in-china
https://www.cnbc.com/2018/05/04/china-aims-to-steal-us-a-i-crown-and-not-even-trade-war-will-stop-it.html