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

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

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+<br>In the past years, China has actually developed a solid structure to support its AI economy and made significant contributions to AI globally. Stanford University's AI Index, which examines [AI](http://git.risi.fun) developments worldwide across different metrics in research, development, and economy, ranks China amongst the top 3 countries for global [AI](https://jobs.ahaconsultant.co.in) vibrancy.1"Global AI Vibrancy Tool: Who's leading the worldwide [AI](https://sun-clinic.co.il) race?" Expert System Index, Stanford Institute for Human-Centered Artificial Intelligence (HAI), Stanford University, 2021 ranking. On research study, for instance, China produced about one-third of both [AI](https://nujob.ch) journal papers and [AI](https://git.cooqie.ch) citations worldwide in 2021. In economic investment, China accounted for nearly one-fifth of international personal financial investment funding in 2021, bring in $17 billion for [AI](http://120.48.141.82:3000) 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 by geographical location, 2013-21."<br>
+<br>Five kinds of AI business in China<br>
+<br>In China, we discover that AI business typically fall under one of 5 main classifications:<br>
+<br>Hyperscalers develop end-to-end AI technology capability and work together within the ecosystem to serve both business-to-business and business-to-consumer companies.
+Traditional market companies serve customers straight by establishing and embracing AI in internal transformation, new-product launch, and customer services.
+Vertical-specific AI business develop software application and options for specific domain use cases.
+AI core tech companies supply access to computer system vision, natural-language processing, voice recognition, and artificial intelligence capabilities to establish [AI](https://www.globaltubedaddy.com) systems.
+Hardware companies provide the hardware infrastructure to support [AI](http://110.41.19.141:30000) 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 country's AI market (see sidebar "5 types of AI companies in China").3 iResearch, iResearch serial marketing research on China's AI market III, December 2020. In tech, for example, leaders Alibaba and ByteDance, both household names in China, have ended up being known for their extremely tailored AI-driven customer apps. In fact, most of the AI applications that have been extensively embraced in China to date have remained in consumer-facing industries, moved by the world's biggest internet consumer base and the ability to engage with customers in new ways to increase client commitment, earnings, and market appraisals.<br>
+<br>So what's next for AI in China?<br>
+<br>About the research study<br>
+<br>This research study is based upon field interviews with more than 50 specialists within McKinsey and across industries, along with extensive analysis of McKinsey market evaluations in Europe, the United States, Asia,  [wiki.vst.hs-furtwangen.de](https://wiki.vst.hs-furtwangen.de/wiki/User:DessieKee4) and China specifically between October and November 2021. In performing our analysis, we looked beyond industrial sectors, such as finance and retail, where there are currently fully grown [AI](https://skillfilltalent.com) usage cases and clear adoption. In emerging sectors with the highest value-creation potential, we concentrated on the domains where AI applications are currently in market-entry phases and could have an out of proportion effect 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 suggests that there is significant opportunity for AI development in new sectors in China,  of some where innovation and R&D costs have traditionally lagged worldwide counterparts: vehicle, transport, and logistics