China's AI sector to see notable expansion, anticipated to hit USD240.4B by 2035

(MENAFN) In a forward-looking projection, China's artificial intelligence (AI) industry is anticipated to witness substantial advancements in the coming decade, with the market size expected to soar to 1.73 trillion yuan (approximately USUSD240.4 billion) by 2035. This forecast, highlighted in a recent report by CCD Consulting, positions China's AI market to represent a significant portion, accounting for 30.6% of the global AI market's total size.

The report, as detailed by the Chinese newspaper "China Daily," underscores the pivotal role of AI technology as a driving force propelling innovative development within the digital economy. Moreover, it emphasizes the accelerating integration of AI with the real economy, foreseeing a profound impact on the digital transformation across various industries and the manufacturing of digital technologies.

An intriguing aspect highlighted in the report is the remarkable surge in the number of large language models in China, each encompassing over a billion parameters. As of December 2023, the country boasts 234 such models, indicative of the rapid advancements in AI capabilities. Furthermore, the report illuminates the expanding application of generative AI technology across diverse sectors, including media, finance, retail, healthcare, and smart manufacturing.

The findings signify China's strategic positioning at the forefront of the global AI landscape, showcasing not only significant market growth but also the widespread adoption and integration of AI technologies across industries. As China continues to spearhead innovation in AI, the anticipated trajectory suggests a transformative impact on various sectors, heralding a new era in the country's digital and technological landscape.

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