The latest report by Bloomberg Intelligence (BI) predicts the estimate
Already from the title of the report, “China’s great tech leap forward“, we understand the expectation of data from the latest report by Bloomberg Intelligence (BI). According to this report, in fact, the value of China’s Artificial Intelligence (IA) industries could exceed 1 trillion yuan ($ 145.47 billion) by 2030, with that of Intelligence-enabled industries exceeding 10 trillion yuan .
Representing China’s two biggest strengths are China’s drive to commercialize IA technologies and the introduction of the world’s largest 5G network. “Based on the growth trajectory in the past decade, China may overtake the U.S. in global technology-patents share by 2025,” said the report.
According to the report, AI-related industries may exceed 6 percent of China’s GDP by 2030
But of course, the results of China see years of commitment in the areas of technology and data. In the report, BI analysts said the country’s abundance of data may fuel the acceleration of the industry.
Furthermore, according to Tsinghua University, private funding for Chinese AI-related companies in 2017 totaled 27.7 billion dollars, equivalent to 70 percent of global investments in the industry.
AI startups had already caught up with the United States by 2016
Vey-Sern Ling, senior industry analyst at Bloomberg intelligence, said: “I don’t think anywhere else in the world you have the government so strongly behind, identifying the technology pillar and bearing full weight”.
Ling added that China could outperform global peers in the commercialization of AI technologies and that Chinese artificial intelligence domination by 2030 could be driven by developments in the transport, business services, health care and healthcare sectors finance.
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