Chinese tech company Baidu says artificial intelligence is entering a ‘golden age’ on the mainland
- Company tells its annual developers’ conference, Baidu Create, that a growing pool of talent is contributing to China’s AI capability
- It says AI innovations on the mainland could advance developments in sectors including transportation, health care and even space exploration
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Artificial intelligence (AI) has already played an indispensable role in daily life, but its golden age is yet to come as China, the world’s emerging AI leader, prepares for the fourth wave of the industrial revolution.
The world’s second-largest economy has proved to be fertile ground for AI. From 2015 to 2020, the market valuation of the AI sector grew at an annual rate of 44.5 per cent in China, compared to 22.6 per cent globally, according to a Deloitte report. And according to a report by Accenture, by 2019, China had become the world’s second-largest AI market, accounting for 12 per cent of the global AI economy.
Since 2017, AI in China has been deeply integrated with manufacturing, finance, commerce and other fields to help accelerate digital transformation. In the outline of the 14th five-year plan, Chinese policymakers addressed AI-related technology as “a fundamental core area”.
Leading Chinese tech strategists like Baido’s chief executive officer Robin Li, are envisioning a smart future in which AI becomes essential to every industry. Smart transportation, for example, is the next-level AI application where a cloud based-platform could help optimise traffic flow. In Li’s vision, residents in first-tier cities will no longer need to enter a lottery for licence plates, because the smart transportation system will tackle much of the traffic congestion. The system will become one of the most influential innovations in the next 10 to 40 years, Li believes.