jonelledyason/cbfacilitiesmanagement
1
0
Code Issues Projects Wiki

Add 'The next Frontier for aI in China could Add $600 billion to Its Economy'

Jonelle Dyason 2025-02-09 12:58:37 +00:00
commit 493ea11058
1 changed files with 13 additions and 0 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

13
The-next-Frontier-for-aI-in-China-could-Add-%24600-billion-to-Its-Economy.md Normal file

@ -0,0 +1,13 @@
<br>In the previous years, China has developed a strong structure to support its AI economy and made considerable contributions to AI internationally. Stanford University's AI Index, which assesses [AI](https://workonit.co) advancements around the world throughout different metrics in research, advancement, and economy, ranks China amongst the top 3 nations for international [AI](http://182.92.143.66:3000) vibrancy.1"Global AI Vibrancy Tool: Who's leading the international [AI](http://tools.refinecolor.com) race?" Expert System Index, Stanford Institute for Human-Centered Artificial Intelligence (HAI), Stanford University, 2021 ranking. On research study, for example, China produced about one-third of both [AI](https://955x.com) journal documents and AI citations worldwide in 2021. In economic financial investment, China accounted for nearly one-fifth of international private investment funding 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 financial investment in AI by geographical area, 2013-21."<br>
<br>Five types of AI companies in China<br>
<br>In China, we discover that [AI](https://faptflorida.org) business usually fall under one of five main categories:<br>
<br>Hyperscalers establish end-to-end AI technology capability and collaborate within the community to serve both business-to-business and business-to-consumer companies.
Traditional industry companies serve consumers straight by establishing and adopting [AI](https://git.fandiyuan.com) in internal improvement, new-product launch, and client service.
Vertical-specific [AI](http://git.moneo.lv) companies establish software application and services for specific domain usage cases.
AI core tech suppliers offer access to computer vision, natural-language processing, voice recognition, and artificial intelligence capabilities to develop AI systems.
Hardware companies offer the hardware facilities to support [AI](https://sportsprojobs.net) demand in calculating power and storage.
Today, AI adoption is high in China in finance, retail, and high tech, which together account for more than one-third of the country's AI market (see sidebar "5 types of AI business in China").3 iResearch, iResearch serial marketing research on China's AI industry III, December 2020. In tech, for instance, leaders Alibaba and ByteDance, both home names in China, have become known for their highly tailored AI-driven consumer apps. In fact, many of the AI applications that have been widely adopted in China to date have remained in consumer-facing markets, propelled by the world's biggest internet consumer base and the capability to engage with customers in brand-new methods to increase client commitment, income, and market appraisals.<br>
<br>So what's next for AI in China?<br>
<br>About the research study<br>
<br>This research is based on field interviews with more than 50 experts within McKinsey and across industries, along with comprehensive analysis of McKinsey market assessments in Europe, the United States, Asia, and China particularly in between October and November 2021. In performing our analysis, we looked outside of industrial sectors, such as financing and retail, where there are currently fully grown AI usage cases and clear adoption. In emerging sectors with the greatest value-creation capacity, we focused on the domains where AI applications are currently in market-entry stages and could have a disproportionate 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 function of the study.<br>
<br>In the coming decade, our research study indicates that there is tremendous opportunity for AI growth in brand-new sectors in China, including some where innovation and R&D costs have traditionally lagged worldwide equivalents: vehicle, transport, and logistics