Add 'The next Frontier for aI in China could Add $600 billion to Its Economy'

The-next-Frontier-for-aI-in-China-could-Add-%24600-billion-to-Its-Economy.md

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+<br>In the past decade, China has actually developed a solid foundation to support its AI economy and made significant contributions to AI globally. Stanford University's [AI](http://123.207.52.103:3000) Index, which evaluates AI developments 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](https://napolifansclub.com) Vibrancy Tool: Who's leading the worldwide [AI](http://207.148.91.145:3000) race?" Expert System Index, Stanford Institute for Human-Centered Artificial Intelligence (HAI), Stanford University, 2021 ranking. On research study,  [wiki.rolandradio.net](https://wiki.rolandradio.net/index.php?title=User:RYUDarell4) for instance, China produced about one-third of both AI journal documents and AI citations worldwide in 2021. In economic financial 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 investment in AI by geographical location, 2013-21."<br>
+<br>Five kinds of AI companies in China<br>
+<br>In China, we discover that AI companies generally fall into one of 5 main categories:<br>
+<br>Hyperscalers develop end-to-end AI technology ability and work together within the ecosystem to serve both business-to-business and business-to-consumer companies.
+Traditional market business serve clients straight by establishing and adopting [AI](http://94.191.73.38:3000) in internal transformation, new-product launch, and customer support.
+Vertical-specific AI companies develop software and solutions for particular domain usage cases.
+AI core tech providers offer access to computer system vision, natural-language processing, voice acknowledgment, and artificial intelligence capabilities to establish AI systems.
+Hardware business offer the hardware facilities to support AI demand in computing power and storage.
+Today, AI adoption is high in China in finance, retail, and high tech, which together represent more than one-third of the country's AI market (see sidebar "5 kinds of AI business in China").3 iResearch, iResearch serial market research on China's [AI](https://kronfeldgit.org) industry III, December 2020. In tech, for instance, leaders Alibaba and ByteDance, both home names in China, have become known for their highly tailored [AI](https://laboryes.com)-driven customer apps. In truth, the majority of the AI applications that have been extensively adopted in China to date have actually remained in consumer-facing markets, moved by the world's largest web consumer base and the ability to engage with customers in brand-new ways to increase customer loyalty, revenue, and market appraisals.<br>
+<br>So what's next for [AI](https://gryzor.info) in China?<br>
+<br>About the research<br>
+<br>This research is based upon field interviews with more than 50 specialists within McKinsey and across markets, in addition to comprehensive analysis of McKinsey market evaluations in Europe, the United States, Asia, and China specifically in between October and November 2021. In performing our analysis, we looked beyond industrial sectors, such as finance and retail, where there are already mature AI usage cases and clear adoption. In emerging sectors with the highest value-creation capacity, we concentrated on the domains where AI applications are presently in market-entry stages and could have a disproportionate effect by 2030. Applications in these sectors that either remain in the early-exploration stage or have fully grown market adoption, such as manufacturing-operations optimization, were not the focus for the purpose of the study.<br>
+<br>In the coming years, our research indicates that there is significant opportunity for [AI](https://joydil.com) growth in new sectors in China, including some where innovation and R&D costs have traditionally lagged international counterparts: vehicle, transport, and logistics