BEIJING, May 14 (Xinhua) -- Development of artificial intelligence (AI) in China has entered an explosive growth period, in which the robot has become a new round of investment hot spots with the market scale expected to reach 1 trillion yuan, the Xinhua-run Economic Information Daily reported on Monday.
At present, the Pearl River Delta region, the Yangtze River Delta region, the Beijing-Tianjin-Hebei region, the northeastern region, the central region, and the western region in China have seen the booming development of the AI industry, said Yu Ming, an official with China International Engineering Consulting Corporation (CIECC).
Data shows that in 2017, the amount of domestic AI investment reached a record high to stand at 1.03 billion U.S. dollars. The industry insiders estimate that from 2016 to 2020, the domestic AI market will grow at an average annual rate of 50 percent. As of 2020, the proportion of China’s AI market to the global market will be 7.6 percent.
According to estimates, the total capital demand in China’s robotics industry is over 100 billion yuan, of which the industrial robot industry is about 50 billion yuan and the service robot industry is close to 40 billion yuan. In the future, with the rapid improvement in of the overall level of China's robotics industry, the demand for funds will further increase, said Yu. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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