Nation in vanguard of global AI advances

Tech's use in wide range of industries a driving force for China's growth

China is at the global forefront of the development and application of fast-evolving artificial intelligence technology, which is vital for bolstering industrial upgrades and will inject new momentum into high-quality economic growth, said experts and entrepreneurs at the 16th Annual Meeting of the New Champions, also known as the Summer Davos, in Tianjin, on Tuesday.

Zhu Min, former deputy managing director of the International Monetary Fund, said China will make great strides in the application of AI technology in the next 18 months to two years, highlighting that the country boasts a huge market of 1.4 billion people and abundant industrial application scenarios, which serve as important advantages for China in AI development.

The deployment of AI in a wide range of industries is becoming an important driving force for China's economic growth, Zhu said, adding that China has surpassed the United States in the number of AI academic papers issued, taking the top spot worldwide, and such papers increasingly focus on the specific industrial application of AI.