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 previous decade, China has actually built a solid structure to support its AI economy and made significant contributions to AI worldwide. Stanford University's [AI](https://timviec24h.com.vn) Index, which assesses AI advancements worldwide across various metrics in research study, advancement, and economy, ranks China among the leading 3 nations for worldwide [AI](http://www.cl1024.online) vibrancy.1"Global AI Vibrancy Tool: Who's leading the global AI race?" Artificial Intelligence 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](https://weworkworldwide.com) citations worldwide in 2021. In economic financial investment, China accounted for almost one-fifth of global personal financial 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](http://62.234.217.137:3000) by geographic location, 2013-21."<br>
+<br>Five types of [AI](https://git.liubin.name) companies in China<br>
+<br>In China, we find that AI companies usually fall under one of 5 main categories:<br>
+<br>Hyperscalers develop end-to-end [AI](http://git.youkehulian.cn) innovation 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 change, new-product launch, and client service.
+Vertical-specific AI business establish software application and solutions for specific domain use cases.
+[AI](https://hiphopmusique.com) core tech service providers supply access to computer system vision, natural-language processing, voice recognition, and artificial intelligence abilities to develop AI systems.
+Hardware business offer the hardware facilities to support AI demand in calculating power and storage.
+Today, AI adoption is high in China in financing, retail, and high tech, which together represent more than one-third of the country's [AI](https://wiki.ragnaworld.net) market (see sidebar "5 types of AI companies in China").3 iResearch, iResearch serial market research study on China's AI market III, December 2020. In tech, for instance, leaders Alibaba and ByteDance, both family names in China, have actually ended up being understood for their extremely tailored AI-driven customer apps. In fact, the majority of the AI applications that have been extensively adopted in China to date have remained in consumer-facing markets, moved by the world's largest web customer base and the ability to engage with consumers in brand-new ways to increase consumer commitment, revenue, and market appraisals.<br>
+<br>So what's next for [AI](https://www.towingdrivers.com) in China?<br>
+<br>About the research<br>
+<br>This research study is based upon field interviews with more than 50 experts within McKinsey and across 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 currently mature AI usage cases and clear adoption. In emerging sectors with the greatest value-creation capacity, we focused on the domains where AI applications are currently in market-entry stages and might 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 function of the study.<br>
+<br>In the coming years, our research study indicates that there is significant chance for [AI](http://hellowordxf.cn) growth in brand-new sectors in China, including some where innovation and R&D costs have traditionally lagged international equivalents: vehicle, transport, and logistics