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China's AI investment expected to exceed 38 billion USD in 2027

26 Aug 2023 04:45pm
(FILES) A child visits the World Artificial Intelligence Conference (WAIC) in Shanghai, China on July 6, 2023. - (Photo by WANG ZHAO / AFP)
(FILES) A child visits the World Artificial Intelligence Conference (WAIC) in Shanghai, China on July 6, 2023. - (Photo by WANG ZHAO / AFP)

BEIJING - China's investment in artificial intelligence (AI) is estimated to reach 38.1 billion U.S. dollars in 2027, accounting for about nine per cent of the world's total, according to an industry report.

China has continued to boost its prowess in the AI sector in recent years, said global market research firm International Data Corporation (IDC).↳

In the future, with government support and a rapid pace of industrial upgrades, AI technology will integrate with diverse industry demands and become a part of products, services and business models, the IDC added.

Amid recent breakthroughs in AI technology and enhanced application integration, numerous enterprises are scrambling to use advanced technologies represented by AI to adapt to the general landscape of the digital intelligence market, empower new businesses, and help enterprises determine the value of intelligent decision-making goals, consequently fueling a surge in customized demands for AI, the IDC said. - XINHUA

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