China's AI Industry Worth 150 Billion Yuan, Expected to Triple by 2025
- Key words of China's artificial intelligence (AI) industry growth...
technology · market · policy -
China
is accelerating the 'development of articial intelligence (AI)' to become the
global number one artificial intelligence powerhouse by 2030. As of 2020, the
level of China's AI technology is 85.8 percent of that of the United States
(100), ranking third following Europe (89.5%). South Korea's AI technology
level is 80.9 percent of that of the United States.
According
to a report titled, ‘The Trends in China's Artificial Intelligence (AI)
Industry and Implications' issued by the Institute for International Trade
(President: Park Chun-il) of the Korea International Trade Association, China's
artificial intelligence industry reached 150 billion yuan (approximately
25.7890 trillion won) in 2020. It is expected to see the average growth of 26.8
percent every year and reach 450 billion yuan (about 77.3640 trillion won) by
2025. In addition, 20.7 percent of the world's AI papers cited in 2020 were
published in China, which overtook the United States for the first time in the
number of paper citations.
China
sees 2020 as the year to mark the complete convergence of artificial
intelligence and the real economy, and plans to actively utilize artificial
intelligence technology as a driving force for industrial structure advancement
and economic growth. The Chinese government proposed artificial intelligence as
the first of the seven cutting-edge science and technology to be perfected by
2035 in the '14th Five-Year Plan and 2035 Long-Range Objectives’, which was
passed at the annual two sessions in March 2021.
China
is utilizing articicual intelligence in various fields, including urban
infrastructure, healthcare, manufacturing, and transportation. In addition to
leading the global trend in the development and commercialization of facial
recognition security technology, the autonomous vehicle market is also rapidly
growing. China is also taking advantage of AI technology to solve social
problems such as rapid population aging, insufficient number of doctors
relative to the population, and medical imbalance between urban and rural areas
due to urban concentration of medical facilities.
The
report stated, “China has emerged as the second artificial intelligence
powerhouse following the United States based on ▲big data competitiveness, ▲a
huge domestic market of 1.4 billion people, and ▲a policy environment supported
by the government's strong will and mid-and long-term strategy,” and analyzed,
“China permits a wide range of personal information collection and use under
the government approval, so that access to personal data is relatively easy. As
a result of having a clear vision at the national level and making all-out
efforts to secure human resources, the market is growing rapidly with
large-scale capital inflows and talent gathering.
Jeon
Bo-hee, a senior researcher at the Korea International Trade Association, said,
“The rapid growth of China's artificial intelligence industry is a product of
political efforts that have been driven by policies that China has
systematically prepared with a long-term vision, such as the Thousand People
Plan (2008), China Manufacturing 2025 (2015), Next-Generation AI Development
Plan (2017), and the Universal Plan (2019),” and added, “In order to nurture
the AI industry, South Korea also needs to remove regulations that restrict
innovation, shift its policy direction to a paradigm of openness and sharing,
and strive to foster high-quality human resources and attract talents from
overseas.”
|