China's State Council published a new report detailing the nation's new plan to create an artificial intelligence industry of 10 trillion yuan ($ 1.48 trillion) in the People's Republic by 2030, making China the world leader in AI Instead of current president in the USA.
The plan, which was approved by the highest levels of the Beijing authority, describes a 13-year project to bring China to the forefront of the growing field of AI. "Artificial intelligence has become a new mechanism of economic development," the document says. "We must take the initiative to firmly grasp this new stage of development for artificial intelligence and create a new competitive advantage."
The initiative was divided into three phases. By 2020, China intends to be home to the world's leading AI companies, with an industry valued at 1 trillion yuan ($ 148 billion). By 2025, they intend to quintuple the industry's value to 5 trillion yuan with technological advances, and by 2030, aim to be the world leader in technology and economy of AI with a 10 trillion yuan industry.
Of course, China will face strong competition in its rival economic partner, the United States. American technology giants like Alphabet, Microsoft and Apple have made advances in the emerging industry. Five billion venture capital was invested in American IA ventures in 2016 alone.
But China has its own technology companies, such as Baidu and Tencent, who exploited AI in their own right. China already has neck and neck with states in the related field of supercomputing, and its universities have issued more articles on deep learning (a key concept in AI) in 2016 than their American counterparts.
The artificial intelligence initiative is the latest step in Chinese President Xi Jinping's efforts to bring China to the forefront of technological innovations. During a speech in May, where he outlined his Chinese ambitions as world leader, Xi discussed his intentions for Chinese investment in cutting-edge advancements.
"We must seek innovation-driven development and intensify cooperation in frontier areas such as digital economy, artificial intelligence, nanotechnology and quantum computing, and promote the development of large data, cloud computing and intelligent cities in order to transform them On a 21st century digital Silk Road. We must encourage the full integration of science and technology in industries and finance, improve the environment for innovation and pool resources for innovation, "said the president.
Speaking to The Diplomat, a professor at the Shanghai University of Science and Technology said that Beijing's support would mean that "many scholars and Chinese AI specialists who used to work in foreign countries decided to come to China and become leaders in various positions ".
But the AI quest is a double-edged sword. Many experts fear that this could lead to mass unemployment and economic catastrophe. This risk is twofold for less developed countries, such as China - even with its massive advances, hundreds of millions of Chinese still come to life in agriculture or work in factories. These would be some of the first jobs to be fully automated in a world of machines.
"By vigorously developing artificial intelligence, we must attach great importance to the possible risk," says the State Council document.
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