Chinese AI aims to possess a domestic core market of $150 billion and lead globally by 2030 at the latest.
China already has parity with the US in internet AI and is setting the global standard in perception AI.
AI semiconductor chips will become integral in all areas from facial recognition to autonomous vehicles and Cambricon Technologies is the world’s most valuable AI chip company.
iFLYTEK is the most valuable AI speech company globally while the most valuable AI start-up is SenseTime which specialises in image recognition.
China will become the world’s leading AI market due to widespread application in all sectors of the economy from education to health, enthusiasm of consumers and vast data ecosystems, and global and domestic investment that will be further turbo-charged by 5G, rural digitization, and unbridled entrepreneurial flair.
Pertinently also China’s AI R&D is now significantly challenging and will eclipse the US by 2025.
AI will be the first modern General Purpose Technology where China will revolutionise and spearhead global development and application.