From 3d252f374423cd11e4d9841c87a349e416d5430a Mon Sep 17 00:00:00 2001 From: roseconolly69 Date: Sat, 15 Feb 2025 09:42:44 +0000 Subject: [PATCH] Add 'The next Frontier for aI in China could Add $600 billion to Its Economy' --- ...China-could-Add-%24600-billion-to-Its-Economy.md | 13 +++++++++++++ 1 file changed, 13 insertions(+) create mode 100644 The-next-Frontier-for-aI-in-China-could-Add-%24600-billion-to-Its-Economy.md diff --git a/The-next-Frontier-for-aI-in-China-could-Add-%24600-billion-to-Its-Economy.md b/The-next-Frontier-for-aI-in-China-could-Add-%24600-billion-to-Its-Economy.md new file mode 100644 index 0000000..4565edd --- /dev/null +++ b/The-next-Frontier-for-aI-in-China-could-Add-%24600-billion-to-Its-Economy.md @@ -0,0 +1,13 @@ +
In the previous years, China has actually developed a solid foundation to support its AI economy and made substantial contributions to [AI](https://media.motorsync.co.uk) globally. Stanford University's [AI](http://93.104.210.100:3000) Index, which assesses AI developments worldwide throughout various metrics in research, development, and economy, ranks China among the top 3 nations for worldwide AI vibrancy.1"Global AI 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 example, China produced about one-third of both AI journal papers and [AI](http://104.248.138.208) citations worldwide in 2021. In financial financial investment, China represented almost one-fifth of global personal investment financing in 2021, bring 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 area, 2013-21."
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Five types of AI companies in China
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In China, we find that AI business generally fall into one of 5 main categories:
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Hyperscalers develop end-to-end AI technology ability and team up within the environment to serve both business-to-business and business-to-consumer business. +Traditional industry business serve consumers straight by developing and embracing AI in internal transformation, new-product launch, and consumer services. +Vertical-specific AI companies develop software application and options for specific domain use cases. +AI core tech suppliers offer access to computer vision, natural-language processing, voice recognition, and artificial intelligence abilities to establish AI systems. +Hardware companies provide the hardware infrastructure to support AI need in computing power and storage. +Today, [AI](http://git.iloomo.com) 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 types of AI companies in China").3 iResearch, iResearch serial market research study on China's [AI](http://122.51.51.35:3000) industry III, December 2020. In tech, for instance, leaders Alibaba and ByteDance, both family names in China, have actually become understood for their highly tailored [AI](http://43.136.17.142:3000)-driven consumer apps. In fact, many of the AI applications that have actually been widely embraced in China to date have remained in consumer-facing industries, propelled by the world's largest internet customer base and the capability to engage with customers in brand-new ways to increase client loyalty, income, and market appraisals.
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So what's next for [AI](http://pinetree.sg) in China?
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About the research study
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This research is based on field interviews with more than 50 experts within McKinsey and throughout industries, along with substantial analysis of McKinsey market assessments in Europe, the United States, Asia, and China particularly between October and November 2021. In performing our analysis, we looked outside of industrial sectors, such as finance 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 might have a disproportionate effect by 2030. Applications in these sectors that either remain in the early-exploration phase or have mature market adoption, such as manufacturing-operations optimization, were not the focus for the purpose of the research study.
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In the coming years, our research study suggests that there is tremendous chance for [AI](https://git.xxb.lttc.cn) development in new sectors in China, consisting of some where innovation and R&D costs have traditionally lagged international counterparts: automobile, transport, and logistics \ No newline at end of file