Artificial intelligence (A.I.) is the mainstream technology gaining traction all over the world. And China is a leading country in new advanced technologies, especially in areas such as artificial intelligence (A.I.).
China surpassed the US in A.I. patent filings, last year alone, for the first time in history, filing more than 110,000 patent applications.
China is already the second-largest producer of A.I. technologies, and also the second-largest AI market in the world.
China’s government is spending billions every year to improve the efficiency of industries across the country and has laid out plans to become the global leader in artificial intelligence by 2030, with AI innovations.
The surveillance accounted for 53.8% of all AI-powered applications, according to the report from research firm iiMedia, followed by Finance and Marketing, each accounting for 15.8% and 11.6% respectively.
“China is strengthening its independence and technological capabilities in internet information technology,” said Li Yuxiao, deputy head of the Chinese Academy of Cyberspace Studies
According to Statista, China‘s traditional financial institutions invested around 16.7 billion yuan in artificial intelligence in 2018. In order to improve clients’ experience and working efficiency, financial institutions in China are increasing their investment in science and technology, including the implementation of artificial intelligence.
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