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<br>In the past decade, China has developed a solid structure to support its AI economy and made significant contributions to AI internationally. Stanford University's [AI](https://hrvatskinogomet.com) Index, which assesses AI improvements worldwide across different metrics in research, advancement, and economy, ranks China among the top three countries for international [AI](https://careers.mycareconcierge.com) vibrancy.1"Global AI Vibrancy Tool: Who's leading the international [AI](http://gitlab.together.social) 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 economic investment, China accounted for nearly one-fifth of global private investment funding in 2021, bring 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](https://www.stmlnportal.com) by geographic area, 2013-21."<br>
<br>Five types of [AI](https://marcosdumay.com) companies in China<br>
<br>In China, we find that AI business typically fall under one of 5 main categories:<br>
<br>Hyperscalers develop end-to-end AI technology ability and work together within the ecosystem to serve both business-to-business and business-to-consumer companies.
Traditional industry companies serve consumers straight by developing and embracing [AI](https://www.stmlnportal.com) in internal change, new-product launch, and customer support.
Vertical-specific [AI](https://abcdsuppermarket.com) business develop software and options for specific domain usage cases.
[AI](http://47.120.57.226:3000) core tech service providers supply access to computer vision, natural-language processing, voice recognition, and artificial intelligence capabilities to establish [AI](https://www.garagesale.es) systems.
Hardware business supply the hardware infrastructure to support AI demand in computing 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](https://www.jobspk.pro) market (see sidebar "5 types of [AI](https://git.elder-geek.net) business in China").3 iResearch, iResearch serial market research on China's AI industry III, December 2020. In tech, for instance, leaders Alibaba and ByteDance, both family names in China, have become known for their highly tailored [AI](https://afrocinema.org)-driven customer apps. In fact, most of the [AI](https://intgez.com) applications that have been extensively embraced in China to date have remained in consumer-facing markets, propelled by the world's largest internet customer base and the ability to engage with consumers in new methods to increase consumer commitment, earnings, and market appraisals.<br>
<br>So what's next for [AI](https://kiaoragastronomiasocial.com) in China?<br>
<br>About the research study<br>
<br>This research is based upon field interviews with more than 50 professionals 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 outside of business sectors, such as finance and retail, where there are already fully grown AI use cases and clear adoption. In emerging sectors with the highest value-creation capacity, we focused on the domains where AI applications are presently in market-entry phases and might have a disproportionate effect by 2030. Applications in these sectors that either remain in the early-exploration stage or have fully grown market adoption, such as manufacturing-operations optimization, were not the focus for the purpose of the study.<br>
<br>In the coming years, our research shows that there is tremendous opportunity for [AI](https://yourrecruitmentspecialists.co.uk) development in brand-new sectors in China, consisting of some where development and R&D costs have generally lagged global counterparts: automotive, transport, and logistics