1. China to expand artificial intelligence products market to $15 bn

China to expand artificial intelligence products market to $15 bn

China plans to expand its artificial intelligence products market to over $15 billion by speeding up the manufacturing of products like robots, home appliances and mobile phones as part of efforts to develop new technologies to reorient its sluggish economy.

By: | Beijing | Published: May 25, 2016 11:52 AM
China will speed up the development of its artificial intelligence (AI) sector and create a market worth more than 100 billion yuan (.26 billion) over the next three years, the National Development and Reform Commission said in a statement. (Reuters) China will speed up the development of its artificial intelligence (AI) sector and create a market worth more than 100 billion yuan (.26 billion) over the next three years, the National Development and Reform Commission said in a statement. (Reuters)

China plans to expand its artificial intelligence products market to over $15 billion by speeding up the manufacturing of products like robots, home appliances and mobile phones as part of efforts to develop new technologies to reorient its sluggish economy.

China will speed up the development of its artificial intelligence (AI) sector and create a market worth more than 100 billion yuan ($15.26 billion) over the next three years, the National Development and Reform Commission said in a statement.

By 2018, China shall build platforms for fundamental AI resources and innovation and make breakthroughs on basic core technology, the three-year implementation programme for “Internet Plus” artificial intelligence said.

Under the plan, China will cultivate and develop emerging artificial intelligence industries, promote innovation in intelligent products and enhance the intelligence level of terminal products.

The programme will involve key projects such as intelligent home appliances, smart automobiles, intelligent unmanned systems, intelligent wearable devices and robots.

China will also offer some guarantee measures involving financial support, intellectual property protection, talents and international cooperation, state-run China Daily reported.

Last year, China unveiled the “Internet Plus” strategy to integrate mobile internet, cloud computing, big data and the Internet of Things with traditional industries and fuel economic growth.

The plan is formulated jointly by the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology and the Cyberspace Administration of China.

As per the plan, China shall be in line with global AI technology and industries by 2018.

At key regions, the country will cultivate some global leading AI enterprises and set up an innovative, open, cooperative, green and safe AI industrial ecology.

China, the global manufacturing hub for three decades, is currently reorienting its economy from cheap manufacturing goods to that high technology to beat the slow down.

Chinese economy slowed down to 6.9 per cent last year and the government has fixed 6.5 per cent to seven per cent as the target for this year.

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