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

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

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+<br>In the previous years, China has constructed a strong foundation to support its AI economy and made significant contributions to [AI](https://git.maxwellj.xyz) globally. Stanford University's AI Index, which evaluates [AI](http://tfjiang.cn:32773) improvements around the world across various metrics in research, development, and economy, ranks China amongst the leading 3 nations for international [AI](http://47.107.29.61:3000) vibrancy.1"Global AI Vibrancy Tool: Who's leading the worldwide 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 journal papers and AI citations worldwide in 2021. In financial financial investment, China represented nearly one-fifth of global personal 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 by geographical area, 2013-21."<br>
+<br>Five kinds of AI companies in China<br>
+<br>In China, we discover that [AI](https://foke.chat) business typically fall into one of 5 main categories:<br>
+<br>Hyperscalers establish end-to-end AI technology ability and team up within the community to serve both business-to-business and business-to-consumer companies.
+Traditional market business serve clients straight by developing and embracing AI in internal change, new-product launch, and customer support.
+Vertical-specific AI business develop software and options for particular domain usage cases.
+AI core tech providers supply access to computer vision, natural-language processing, voice recognition, and artificial intelligence abilities to develop [AI](https://wiki.ragnaworld.net) systems.
+Hardware companies supply the hardware infrastructure to support AI demand in computing 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 market (see sidebar "5 types of AI companies in China").3 iResearch, iResearch serial marketing research on China's [AI](http://51.15.222.43) industry III, December 2020. In tech, for example, leaders Alibaba and ByteDance, both family names in China, have actually become understood for their extremely tailored AI-driven consumer apps. In reality, most of the AI applications that have been widely adopted in China to date have remained in consumer-facing markets, propelled by the world's biggest web customer base and the ability to engage with consumers in brand-new methods to increase consumer commitment, income, and market appraisals.<br>
+<br>So what's next for AI in China?<br>
+<br>About the research study<br>
+<br>This research is based on field interviews with more than 50 experts within McKinsey and throughout markets, together 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 beyond industrial sectors, such as financing and retail, where there are currently 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 currently in market-entry stages and could have an out of proportion impact 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 study.<br>
+<br>In the coming years, our research indicates that there is tremendous chance for [AI](https://wiki.monnaie-libre.fr) development in new sectors in China, consisting of some where development and R&D spending have traditionally lagged worldwide equivalents: vehicle, transport, and logistics