Growth opportunities in the China AI market look promising over the next six years. This is mainly due to the accelerating adoption of advanced technologies across numerous sectors along with the increasing number of government initiatives that are focused on different technological advancements in industries such as retail, manufacturing, defense, oil & gas, healthcare, among others.
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China AI Industry Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
One of the major factors that is contributing to the growth of the China AI market size includes the rising adoption of advanced technologies by numerous sectors. Artificial intelligence is increasingly introduced in numerous industries to improve their research & development activities and induce automation in their processes. AI facilitates better decision-making and problem solving by its reasoning abilities. This is one of the biggest reasons for the rising implementation of AI in the different programs among various industries. In addition to this, the government initiatives are emphasized on technological advancements in industries which include oil & gas, defense, retail, healthcare, and manufacturing. The ‘New Generation Artificial Intelligence Development Plan’, aims to increase the prevailing businesses and become a prominent player in the technologies such as self-driving cars, virtual reality, smart robots, and military applications (that are based on inbuild knowledge to have the capabilities to learn from surroundings) by the end of 2030. All these factors are propelling the growth of the artificial intelligence industry in China.
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