China Takes Lead in AI with Over 5,000 Companies

(MENAFN) The number of artificial intelligence (AI) companies in China has skyrocketed from slightly over 1,400 to more than 5,000 within just five years, according to the Ministry of Industry and Information Technology. The figures were revealed during the World Smart Industry Expo in Chongqing, located in southwest China.

Xin Guobin, the Vice Minister of Industry and Information Technology, outlined China's rapid progress, noting that the country has established more than 40,000 smart factories. In addition, 11 national pilot zones for AI innovation and 17 zones dedicated to testing intelligent connected vehicles have been created.

Furthermore, a national AI industry investment fund valued at 60 billion yuan (roughly $8.4 billion USD) has been launched. The initiative is bolstered by the introduction of new AI ethics guidelines, the formation of the China-BRICS AI development and cooperation center, and over 240 newly established standards for core AI technologies.

According to the China Internet Development Report 2021, the country had just 1,454 AI companies in 2020, highlighting the industry's rapid expansion.

China’s government has consistently prioritized AI development. In 2017, the State Council unveiled a long-term plan to advance the next generation of AI, followed by this August's release of new guidelines under the "AI Plus" initiative. The objective is to speed up the creation of a smart economy and society, fostering collaboration between humans and machines, and encouraging cross-sector innovation.

Wan Gang, president of the China Association for Science and Technology, emphasized that the robust growth of China's AI sector is rooted in the experience of early innovators and the nation’s inherent advantages. These include vast data resources, a comprehensive industrial system, a wide range of application scenarios, and a massive market potential.

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