China’s State Council today unveiled a national artificial intelligence (AI) development plan that aims to establish the country as a leading player in AI innovation and technology by 2030. It expects the value of the country’s core AI industries to exceed 150 billion yuan ($22.15 billion) by 2020 and 400 billion yuan ($59.07 billion) by 2025.
"The situation with China on national security and international competition is complex... we must take initiative to firmly grasp this new stage of development for artificial intelligence and create a new competitive edge," it said.
The United States released a similar national plan last October. It’s also rumoured that the U.S. has plans to increase its investments in artificial intelligence, amid fears that countries like China could access technology of strategic military importance.
“Presently the military uses artificial intelligence to mainly process large amounts of data, process signals etc but it is a fact that in the future the country with the best machines will be the strongest, unlike in today's world where numbers trump technology. This requirement has created a massive need for artificial intelligence in defense,” according to a new report from Mordor Intelligence.
The plan aims to strengthen the links between private firms, research bodies and military bodies to promote mutual development in AI. Its specific goals include creating an open and coordinated system for AI sci-tech innovation and upgrading the infrastructure for Internet, big data and computers. The country has already begun investing heavily in artificial intelligence technology, including a mix of private and state-backed initiatives, according to a report from Reuters.
The global market of artificial intelligence is anticipated to grow at a CAGR of over 60% during 2017-2022. Moreover, growing investments coupled with increase in number of acquisitions of startups by leading players such as Google, IBM, Microsoft and others is driving growth in the market. Furthermore, increasing research & development activities are also expected to aid the penetration of artificial intelligence into newer applications in next five years.
Stay up-to-date with the latest trending news stories and industry advances with the Research and Markets blog. Don’t forget to connect with us on LinkedIn and Twitter for the latest blog plus information about new products.