BUSINESS INSIGHTS : The latest news, analysis, and trends about protection and care

Chine, Aug 7, 2017,  by Allianz Partners Business Insights

Artificial intelligence: China aiming to be world leader by 2030

The Chinese government last week revealed its strategy to make up the ground that is has lost in the artificial intelligence race, and eventually step up to become world leader in the field by 2030. Public and private investment is increasing in AI-related sectors, and its development around the globe is set to drive significant increases in GDP.

 

China has set itself the goal of becoming world leader in artificial intelligence (AI) by 2030, and the country’s authorities have a three-stage plan which they unveiled last week, designed to turn them into a major player in the sector, as well as using it as a catalyst for the Chinese economy, as reported by zdnet.com.

 

Three-stage strategy

 

The first step in the government’s strategy is to make up the ground that China has lost in this particular field by 2020, and be on a level footing with the countries which currently dominate artificial intelligence-related technologies and applications. To achieve this, the Chinese authorities are aiming for the AI industry to have a domestic market totalling some 150 billion yen (around 19 billion euros) in 2020, and as much as a trillion yen (just over 127 billion euros), taking into account all AI-related activities.

The second part of the plan concerns the period from 2020 – 2025, which should see the continued development of AI in China, before the third stage strengthens the country’s standing in the market by 2030, with an artificial intelligence market of a billion yen, and a total value ten times that amount for the extended sector which includes AI-related activities.

By that time, China hopes to have become the world No.1 in terms of AI-based research, technology and applications, and also the undisputed centre of innovation in this specialist field on an international level.

 

Business and government ready to invest

 

It comes as no surprise, therefore, to see China’s digital giants stepping up their artificial intelligence-related investments. French IT trade specialist website ZDNet has confirmed that Lenovo, Alibaba and Baidu are financing the development of AI solutions which can be applied to autonomous vehicles, e-commerce and connected devices.

It is not only private companies that are investing, with the Chinese government also supporting these growing industries which are set to enjoy the same boom as the artificial intelligence that they are based on.

The result is that the trend is picking up pace in terms of research into neurology, big data, robotics and quantum computing, with innovations set to be unveiled in the years to come in sectors such as agriculture, logistics and industrial manufacturing. In the long term, this should lead to a rise in GDP that is commensurate with the development of artificial intelligence.

 

Dynamic effect on GDP – in China and around the world

 

Experts from consulting firm PwC published a study in June, stating that progress in terms of AI should bring about a 14% growth in world gross domestic product by 2030. Specialists estimate that the country which benefits the most from the phenomenon will be China, which could see its GDP increase by 26% over that period.

 

Allianz Partners

Contact
Linked Topic
About Allianz Partners Business Insights