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In the previous years, China has actually built a strong foundation to support its AI economy and made considerable contributions to AI worldwide. Stanford University's [AI](https://uconnect.ae) Index, which assesses AI developments worldwide throughout different metrics in research, development, and economy, ranks China among the top three nations for worldwide AI 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](https://basedwa.re) journal papers and [AI](http://sdongha.com) citations worldwide in 2021. In financial investment, China represented nearly one-fifth of worldwide private 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 by geographical location, 2013-21."
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Five kinds of AI business in China
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In China, we discover that [AI](http://www.thynkjobs.com) business usually fall under among 5 main categories:
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Hyperscalers establish end-to-end AI technology capability and collaborate within the ecosystem to serve both business-to-business and business-to-consumer business. +Traditional industry companies serve clients straight by establishing and embracing AI in internal change, new-product launch, and customer care. +Vertical-specific AI business develop software application and services for specific domain use cases. +AI core tech companies supply access to computer system vision, natural-language processing, voice acknowledgment, and artificial intelligence capabilities to develop AI systems. +Hardware companies 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 account for more than one-third of the country's [AI](http://165.22.249.52:8888) market (see sidebar "5 types of AI companies in China").3 iResearch, iResearch serial market research study on China's [AI](http://39.98.116.222:30006) market III, December 2020. In tech, for instance, leaders Alibaba and ByteDance, both family names in China, have become understood for their highly tailored [AI](https://ahlamhospitalityjobs.com)-driven consumer apps. In fact, the majority of the [AI](http://47.107.80.236:3000) applications that have actually been widely embraced in China to date have remained in consumer-facing markets, moved by the world's largest internet consumer base and the capability to engage with consumers in brand-new methods to increase customer commitment, profits, and market appraisals.
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So what's next for AI in China?
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About the research
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This research study is based upon field interviews with more than 50 experts within McKinsey and across markets, along with comprehensive analysis of McKinsey market evaluations in Europe, the United States, Asia, and China particularly in between October and November 2021. In performing our analysis, we looked beyond commercial sectors, such as finance and retail, where there are currently mature AI use cases and clear adoption. In emerging sectors with the highest value-creation capacity, we focused on the domains where [AI](http://49.234.213.44) applications are presently in market-entry phases and could have an out of proportion impact by 2030. Applications in these sectors that either remain in the early-exploration phase or have fully grown 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 incredible opportunity for AI growth in brand-new sectors in China, including some where development and R&D costs have generally lagged global equivalents: automotive, transport, and logistics \ No newline at end of file