China unveils plans for $US2billion Artificial Investment research park

China unveils plans for $US2billion Artificial Investment research park

09/01/18

Luke Foddy, Communications Manager

China has announced plans to build a US$2 billion artificial intelligence (AI) research park in west Beijing as part of its ambition to become the world leader in AI technologies.

According to the official state news agency Xinhua, the park will focus on ‘developing areas such as super high-speed big data, cloud computing, biometric identification and deep learning.’

China is rapidly establishing itself as a global powerhouse for AI technologies. The new research park will contribute to China’s ambition to become the world leader for AI by 2025, Reuters reports.

Described as a ‘national AI research centre’ by the news site Futurism, the park is anticipated to ‘produce $7.7 billion (50 billion yuan) a year from the 400 enterprises’ expected to be based there.

Dr Kai-Fu Lee, a leading thinker on AI and Chairman and CEO of Sinovation Ventures – a China focused technology investment firm which manages a US$1.8 billion dual currency investment fund – will be giving a speech and Q&A on the future of AI in China at Asia House on 19 January.