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The emergence of the “AI Plus” initiative marks a transition in China’s AI market

TL;DR

  • China prioritizes value-driven AI for industrial empowerment.
  • Talent cultivation is essential for sustaining AI innovation.
  • Consumer purchasing power is pivotal in AI market expansion.

A shift in China‘s artificial intelligence (AI) landscape, Professor Zhang Ying, vice dean of the Guanghua School of Management at Peking University, highlighted a transition from a “technology-driven” to a “value-driven” AI market. 

This shift emphasized during a seminar on China’s economic situation and policy analysis held in Beijing, underscores a strategic move towards concrete implementation and application of AI technology.

Transition to “AI Plus” Initiative

For the first time, China’s government work report for the year mentioned the launch of an “AI Plus initiative.” This initiative symbolizes a departure from solely focusing on technological advancements towards empowering the entire spectrum of AI, from research and development (R&D) to practical application and industrial development. 

Professor Zhang stressed the importance of integrating AI into business processes and product functionalities to expedite industrial development and identify opportunities unique to the Chinese market.

To effectively implement the AI Plus initiative, Professor Zhang provided several recommendations., first, he emphasized the need to carefully assess the technological and business impacts of AI Plus applications. 

He also advocated for empowering key sectors with AI technologies while avoiding over-expectations in the short term. 

The professor underscored the importance of focusing on real-world applications and market needs. he highlighted the significance of market testing, emphasizing the importance of evaluation in the broader market beyond initial government procurement.

Focus on consumer purchasing power and talent cultivation

In addition to the implementation strategies, Professor Zhang stressed the importance of increasing residents’ income to expand market demand. Greater purchasing power among consumers enables broader access to advanced technologies, thus fostering the development of high-quality products and services. 

Furthermore, attention should be directed towards the investment cycle and talent cultivation in AI. Continuous investment and patience are essential for the industrial integration of AI, with long-term, stable support from both the government and private sector crucial for steady technological progress and addressing emerging challenges.

Renewed focus on science and education

Against the backdrop of China’s renewed focus on invigorating the nation through science and education, as outlined in the 2024 government work report, the importance of talent cultivation in AI becomes even more pronounced. 

With talent being the linchpin for success in the competitive AI landscape, strategic investments in education and research are paramount for sustaining innovation and technological advancement.

The transition of China’s AI market from a technology-driven to a value-driven approach marks a significant milestone in the country’s technological landscape. With the emergence of the AI Plus initiative and a renewed focus on practical implementation, China is poised to leverage AI technologies across various sectors, driving innovation and economic growth. 

However, effective implementation requires careful assessment, strategic empowerment of key sectors, and sustained investments in talent and research. As China continues to navigate the complexities of the AI landscape, a commitment to innovation and collaboration will be essential in realizing the full potential of AI technologies.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Emman Omwanda

Emmanuel Omwanda is a blockchain reporter who dives deep into industry news, on-chain analysis, non-fungible tokens (NFTs), Artificial Intelligence (AI), and more. His expertise lies in cryptocurrency markets, spanning both fundamental and technical analysis.

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