commit d400102ef290b09b8fdda01fbd73e9aaf634d959 Author: rainacadwallad Date: Thu Feb 27 07:34:56 2025 +0000 Add 'The next Frontier for aI in China could Add $600 billion to Its Economy' diff --git a/The-next-Frontier-for-aI-in-China-could-Add-%24600-billion-to-Its-Economy.md b/The-next-Frontier-for-aI-in-China-could-Add-%24600-billion-to-Its-Economy.md new file mode 100644 index 0000000..628df35 --- /dev/null +++ b/The-next-Frontier-for-aI-in-China-could-Add-%24600-billion-to-Its-Economy.md @@ -0,0 +1,13 @@ +
In the previous years, China has developed a solid structure to support its AI economy and made considerable contributions to AI internationally. Stanford University's AI Index, which assesses AI developments worldwide across different metrics in research study, advancement, and economy, ranks China amongst the leading 3 nations for global 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 journal documents and AI citations worldwide in 2021. In financial investment, China accounted for almost one-fifth of international 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 investment in [AI](http://111.9.47.105:10244) by geographic location, 2013-21."
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Five kinds of AI companies in China
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In China, we find that AI companies usually fall under among five main categories:
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Hyperscalers establish end-to-end AI innovation capability and work together within the ecosystem to serve both business-to-business and business-to-consumer companies. +Traditional market business serve customers straight by establishing and adopting AI in internal transformation, new-product launch, and client services. +Vertical-specific [AI](http://hammer.x0.to) companies establish software and services for specific domain use cases. +AI core tech companies supply access to computer vision, natural-language processing, voice recognition, and artificial intelligence capabilities to establish AI systems. +Hardware business offer the hardware facilities to support AI need 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 nation's AI market (see sidebar "5 kinds of [AI](https://git.logicp.ca) business in China").3 iResearch, iResearch serial marketing research on China's [AI](http://gitlab.nsenz.com) market III, December 2020. In tech, for instance, leaders Alibaba and ByteDance, both household names in China, have become known for their highly tailored AI-driven consumer apps. In truth, the majority of the [AI](https://setiathome.berkeley.edu) applications that have been commonly embraced in China to date have actually remained in consumer-facing markets, moved by the world's largest internet consumer base and the ability to engage with consumers in new methods to increase consumer loyalty, profits, and market appraisals.
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So what's next for AI in China?
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About the research study
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This research is based on field interviews with more than 50 specialists within McKinsey and across markets, together with extensive 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 already fully grown AI use cases and clear adoption. In emerging sectors with the greatest value-creation capacity, we concentrated on the domains where AI applications are presently in market-entry phases and might have an out of proportion effect by 2030. Applications in these sectors that either remain in the early-exploration stage or have mature industry adoption, such as manufacturing-operations optimization, were not the focus for the function of the study.
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In the coming decade, our research shows that there is incredible chance for [AI](https://innovator24.com) development in new sectors in China, consisting of some where innovation and R&D spending have generally lagged global counterparts: automotive, transport, and logistics \ No newline at end of file