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China’s AI industry will be worth $30 BILLION by 2022

China’s AI industry will be worth $30 BILLION by 2022
The artificial intelligence (AI) industry is growing steadily in China as Beijing aims to become the leader in the technology by 2030.

China is leading the way in computer vision and language recognition, which is expected to boost the industry by more than $8 billion by 2022, according to a report by the Chinese Institute of Electronics.

It projects that China’s AI industry will amount to $30 billion within two years, saying that talent is the key to AI development.

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By the end of 2018, there were more than 1.9 million new AI professionals worldwide, half of those were from the United States.

The world’s two largest economies, the US and China, have both been racing to invest heavily in AI technology.

China’s Ministry of Science and Technology proposed setting up AI pilot zones in 2019 in 20 cities. This week, Guangzhou’s government announced plans to launch a zone dedicated to AI.

For more stories on economy & finance visit RT's business section

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