Add 'The next Frontier for aI in China could Add $600 billion to Its Economy'
master
commit
73d179a1bd
1 changed files with 13 additions and 0 deletions
Split View
Diff Options
+ 13
- 0
The-next-Frontier-for-aI-in-China-could-Add-%24600-billion-to-Its-Economy.md
| @ -0,0 +1,13 @@ | |||
| <br>In the past decade, China has built a strong foundation to support its AI economy and made significant contributions to [AI](https://wiki.cemu.info) worldwide. Stanford University's AI Index, which assesses [AI](https://gitlabdemo.zhongliangong.com) improvements around the world throughout different metrics in research, advancement, and economy, ranks China amongst the top three nations for international AI vibrancy.1"Global AI Vibrancy Tool: Who's leading the international AI race?" Artificial Intelligence Index, Stanford Institute for Human-Centered Artificial Intelligence (HAI), Stanford University, 2021 ranking. On research, for instance, China produced about one-third of both [AI](https://www.anetastaffing.com) journal documents and AI citations worldwide in 2021. In economic investment, China accounted for almost one-fifth of global private investment financing in 2021, drawing in $17 billion for AI start-ups.2 Daniel Zhang et al., Artificial Intelligence Index report 2022, Stanford Institute for Human-Centered Artificial Intelligence (HAI), Stanford University, March 2022, Figure 4.2.6, "Private financial investment in [AI](http://47.98.190.109) by geographic area, 2013-21."<br> | |||
| <br>Five types of [AI](https://nemoserver.iict.bas.bg) business in China<br> | |||
| <br>In China, we find that AI business generally fall under among five main classifications:<br> | |||
| <br>Hyperscalers establish end-to-end [AI](https://local.wuanwanghao.top:3000) innovation capability and work together within the community to serve both business-to-business and business-to-consumer business. | |||
| Traditional market business serve clients straight by establishing and embracing [AI](https://git.elferos.keenetic.pro) in internal improvement, new-product launch, and customer support. | |||
| Vertical-specific AI business develop software application and options for specific domain use cases. | |||
| [AI](http://keenhome.synology.me) core tech providers offer access to computer vision, natural-language processing, voice acknowledgment, and artificial intelligence abilities to establish AI systems. | |||
| Hardware companies offer the hardware infrastructure to support AI need in calculating power and storage. | |||
| Today, AI adoption is high in China in finance, retail, and high tech, which together account for more than one-third of the nation's AI market (see sidebar "5 types of AI companies in China").3 iResearch, iResearch serial marketing research on China's [AI](http://chotaikhoan.me) market III, December 2020. In tech, for example, leaders Alibaba and ByteDance, both household names in China, have become understood for their highly tailored AI-driven consumer apps. In truth, most of the AI applications that have been commonly embraced in China to date have actually remained in consumer-facing markets, propelled by the world's biggest internet customer base and the ability to engage with consumers in new ways to increase customer loyalty, profits, and market appraisals.<br> | |||
| <br>So what's next for AI in China?<br> | |||
| <br>About the research<br> | |||
| <br>This research is based on field interviews with more than 50 specialists within McKinsey and across industries, along with comprehensive analysis of McKinsey market assessments in Europe, the United States, Asia, and China specifically between October and November 2021. In performing our analysis, we looked outside of industrial sectors, such as finance and retail, where there are currently mature AI usage cases and clear adoption. In emerging sectors with the greatest value-creation capacity, we concentrated on the domains where AI applications are presently in market-entry stages and might have a disproportionate impact by 2030. Applications in these sectors that either remain in the early-exploration stage or have mature industry adoption, such as manufacturing-operations optimization, were not the focus for the purpose of the study.<br> | |||
| <br>In the coming years, our research study shows that there is significant chance for [AI](https://linkpiz.com) development in new sectors in China, consisting of some where development and R&D costs have actually traditionally lagged worldwide equivalents: automotive, transport, and logistics | |||