AI will contribute $4.2 trillion to China's economy by 2035

The Beijing Institute of Analysis under the Ministry of Industry of China predicts that by 2035, artificial intelligence (AI) will bring about 35 trillion yuan (about 4.2 trillion USD) to the country's economy , accounting for one-third of the global value of this field, estimated at about 90 trillion yuan.

AI is expected to contribute significantly to China's economy by 2035.

By 2023, according to statistics from the CCID research group under the Ministry of Industry and Information Technology (MIIT) of China, the domestic AI market is expected to reach 10 trillion yuan as the technology begins to be applied to accelerate traditional industries.

According to CCID, the application rate of AI in the Chinese economy has reached about 15%. The main areas using this new technology are manufacturing, retail, telecommunications and health care.

In an interview with Chinese state television, CCID analyst Chu Debao said that the most active use of AI is in the retail and telecommunications sectors (at 13% and 10% respectively), followed by healthcare and manufacturing (7% and 5% respectively).

After the San Francisco-based OpenAI company (USA) launched the famous ChatGPT chatbot in late 2022, a wave of research and application of AI technology appeared in China.

Major Chinese tech companies such as search engine Baidu, social media companies Tencent and ByteDance, and AI specialists SenseTime and iFlyTek have each launched a series of similar products for the domestic market.

Tencent announced that its Hunyuan enterprise AI model has been used in more than 180 services, including its conferencing app Tencent Meet and cloud word processor Tencent Docs, as well as its WeChat search and online advertising business.

New legal entities are still emerging and entering this potential market, said expert Chu Debao. In 2023 alone, more than 368 new AI-related startups emerged in China, meaning more than one new company in this field was established every day.

At the World Artificial Intelligence Conference in Shanghai (China), MIIT Vice Minister Xu Xiaolan said that as of July 2023, there were more than 4,300 companies operating in the AI field in China.

(according to Securitylab)

A unique direction in AI chatbot development in China

Taking advantage of the market that OpenAI and Google left open, Chinese tech companies are making significant profits from the personalization trend in AI chatbot development.

China rolls out personal identification platform using blockchain technology

China announced that it will deploy RealDID - a blockchain-based unified personal identification platform, to verify user identities and minimize the risk of personal information leakage.

China Aims to Dominate the Emerging Metaverse Technology Market

With breakthroughs in research and deployment of next-generation Internet connection technologies, China is clearly demonstrating its ambition to dominate the emerging Metaverse technology market.

Chinese Telecom Shapes the Future with 5G Technology

The rapid adoption of 5G technology is an extremely important factor in helping China's telecommunications industry shape the future.

The Power of Facial Recognition Technology in China

From entering and leaving offices to airport security checks and paying at convenience stores, Chinese people are all too familiar with facial recognition technology.

Source