commit bf431381f950a069b2ff16eaa910f8e9e7197283 Author: rosalinewaters Date: Thu Feb 20 23:50:14 2025 -0600 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..e622d47 --- /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 decade, China has actually developed a strong foundation to support its AI economy and made considerable contributions to AI globally. Stanford University's [AI](http://120.79.94.122:3000) Index, which evaluates [AI](https://elsingoteo.com) developments around the world throughout various metrics in research study, development, and economy, ranks China among the leading three nations for international [AI](https://play.uchur.ru) vibrancy.1"Global [AI](https://daeshintravel.com) Vibrancy Tool: Who's leading the global AI race?" Artificial Intelligence 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 journal documents and [AI](http://busforsale.ae) citations worldwide in 2021. In financial investment, China represented almost 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 types of AI business in China
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In China, we find that AI business typically fall under among 5 main categories:
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Hyperscalers develop end-to-end AI innovation capability and collaborate within the ecosystem to serve both business-to-business and business-to-consumer companies. +Traditional market business serve customers straight by developing and adopting AI in internal improvement, new-product launch, and client service. +Vertical-specific AI companies establish software and services for specific domain usage cases. +AI core tech providers supply access to computer vision, natural-language processing, voice acknowledgment, and artificial intelligence abilities to develop AI systems. +Hardware companies offer the hardware infrastructure to support AI demand 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 types of [AI](https://20.112.29.181) 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 home names in China, have ended up being understood for their highly tailored AI-driven customer apps. In truth, many of the AI applications that have actually been widely embraced in China to date have remained in consumer-facing markets, moved by the world's largest web consumer base and the ability to engage with customers in new methods to increase customer commitment, income, 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 is based upon field interviews with more than 50 experts within McKinsey and throughout industries, together with extensive analysis of McKinsey market assessments in Europe, the United States, Asia, and China specifically in between October and November 2021. In performing our analysis, we looked outside of business sectors, such as financing and retail, where there are currently mature [AI](https://lonestartube.com) use cases and clear adoption. In emerging sectors with the highest value-creation potential, we concentrated on the domains where AI 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 stage or have fully grown industry adoption, such as manufacturing-operations optimization, were not the focus for the function of the research study.
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In the coming years, our research shows that there is incredible chance for AI growth in new sectors in China, including some where innovation and R&D spending have typically lagged international equivalents: automobile, transport, and logistics \ No newline at end of file