China Issues Guidelines on Developing AI, Targets USD22.2 billion Industry by 2020
Zhang Xia
DATE:  Jul 21 2017
/ SOURCE:  Yicai
China Issues Guidelines on Developing AI, Targets USD22.2 billion Industry by 2020 China Issues Guidelines on Developing AI, Targets USD22.2 billion Industry by 2020

(Yicai Global) July 21 -- China's State Council has issued guidelines on developing artificial intelligence (AI), setting a goal to become a global innovation center in the field by 2030, reported. The plan, which is the first of its kind, put forward strategic objectives, top priorities and safeguarding measures for new-generation AI.

As China's economic development adjusts to a new normal and the country faces the tough road ahead in deepening its supply-side structural reform, it must speed up the widespread application of AI and encourage the sector to boost China's economy, the document said.

By the end of 2020, AI applications will become a new method for China to improve living standards; the country will develop technical standards, service systems and an industrial chain for AI; the sector will be worth more than USD22.2 billion (CNY150 billion) and AI-related industries will be valued at over CNY1 trillion, the scheme said.

By 2025, new-generation AI will be widely applied in areas such as intelligent manufacturing, healthcare, smart cities, agriculture and defense development, with the AI sector and AI-related sectors surpassing CNY400 billion and CNY5 trillion in value, respectively.

By 2030, the breadth and depth of AI's application will greatly expand in all aspects of production and living, social governance and national defense construction, and a complete industrial chain and high-end industry cluster covering core technologies, critical systems, support platforms and intelligent applications will be formed. The core AI industry will be worth over CNY1 trillion, driving the scale of related industries to exceed CNY10 trillion.

China will work to develop emerging AI industries including chips and other intelligent hardware and software, intelligent robots, self-driving vehicles and other intelligent delivery tools, virtual and augmented reality, wearable equipment and other intelligent terminals, the State Council said. The country will advance intelligent manufacturing, agriculture, logistics and business, develop intelligent enterprises and smart homes, encourage large-scale AI adoption and upgrades at companies and foster AI industry leaders.

To develop the AI industry, the central government decided to establish a finance-guided and market-led support mechanism to optimize the construction of an AI master plan and coordinate innovation resources at home and abroad.

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Keywords:   Policy,AI,Intelligent Hardware,Intelligent Robot,Autonomous Vehicles,Tech,Capital,Intelligent