commit 2af1aebc6e135132542a0a36bcbd83c5c2063795 Author: alvinbaecker51 Date: Sun Feb 9 13:57:15 2025 +0000 Add 'The next Frontier for aI in China might Add $600 billion to Its Economy' diff --git a/The-next-Frontier-for-aI-in-China-might-Add-%24600-billion-to-Its-Economy.md b/The-next-Frontier-for-aI-in-China-might-Add-%24600-billion-to-Its-Economy.md new file mode 100644 index 0000000..c649dd7 --- /dev/null +++ b/The-next-Frontier-for-aI-in-China-might-Add-%24600-billion-to-Its-Economy.md @@ -0,0 +1,13 @@ +
In the past years, China has actually developed a solid foundation to support its AI economy and made substantial contributions to AI globally. Stanford University's [AI](https://forum.infinity-code.com) Index, which examines AI developments around the world across different metrics in research, development, and economy, ranks China amongst the top 3 countries for worldwide [AI](https://culturaitaliana.org) vibrancy.1"Global [AI](https://hugoooo.com) Vibrancy Tool: Who's leading the worldwide AI race?" Expert System 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://tikplenty.com) journal documents and AI citations worldwide in 2021. In economic financial investment, China accounted for almost one-fifth of worldwide private investment financing in 2021, attracting $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 by geographical area, 2013-21."
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Five types of AI companies in China
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In China, we discover that AI companies typically fall under among five main classifications:
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Hyperscalers develop end-to-end [AI](https://yourfoodcareer.com) innovation ability and collaborate within the community to serve both business-to-business and business-to-consumer business. +Traditional market companies serve consumers straight by establishing and embracing AI in internal transformation, new-product launch, and . +Vertical-specific AI business develop software application and solutions for particular domain use cases. +[AI](http://www.andreagorini.it) core tech service providers offer access to computer vision, natural-language processing, voice acknowledgment, and artificial intelligence capabilities to establish AI systems. +Hardware business offer the hardware infrastructure to support [AI](https://wiki.uqm.stack.nl) demand in calculating power and storage. +Today, [AI](https://app.hireon.cc) adoption is high in China in financing, retail, and high tech, which together account for more than one-third of the country's [AI](https://23.23.66.84) market (see sidebar "5 kinds of [AI](http://jobee.cubixdesigns.com) business in China").3 iResearch, iResearch serial market research on China's AI industry III, December 2020. In tech, for example, leaders Alibaba and ByteDance, both home names in China, have ended up being understood for their extremely tailored AI-driven customer apps. In truth, most of the AI applications that have been commonly adopted in China to date have actually remained in consumer-facing industries, propelled by the world's largest web customer base and the capability to engage with consumers in brand-new methods to increase consumer commitment, income, and market appraisals.
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So what's next for [AI](http://dasaram.com) in China?
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About the research study
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This research is based upon field interviews with more than 50 experts within McKinsey and throughout markets, together with extensive analysis of McKinsey market evaluations in Europe, the United States, Asia, and China particularly between October and November 2021. In performing our analysis, we looked outside of business sectors, such as financing and retail, where there are already mature AI use 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 phases and could have a disproportionate impact by 2030. Applications in these sectors that either remain in the early-exploration phase or have mature industry adoption, such as manufacturing-operations optimization, were not the focus for the purpose of the study.
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In the coming years, our research study suggests that there is significant opportunity for [AI](https://youarealways.online) growth in brand-new sectors in China, including some where innovation and R&D spending have actually typically lagged global equivalents: automotive, transport, and logistics \ No newline at end of file