AI to drive China’s new wave of tech revolution, industrial transformation, People’s Daily says

The Politburo, the prime decision-making body headed by President Xi Jinping, said in late April that China “should attach importance to the development of artificial general intelligence, create an innovative ecology and pay attention to risk prevention”.

In a separate report released by a think tank under state-backed Xinhua News Agency, the introduction of ChatGPT is believed to have fuelled China’s even quicker engagement in AI and accelerated its catch-up with the US on the “ever-heating” technology track.

In its “Annual Report on the Development of New Generation Artificial Intelligence (2022 to 2023)”, the China Economic Information Service also said China’s AI technology has entered the global top tier, with around 16 per cent of the world’s related companies.

Some 33 firms also appear on the 2023 global unicorn list, accounting for nearly one-third of the global total, the report added.

Professional services firm PwC said earlier that China will benefit the most from AI, with the technology set to contribute to a 26 per cent increase in its gross domestic product by 2030.

Combined with the US, this would account for nearly 70 per cent of the global economic impact.

The People’s Daily, however, said China still faces challenges, such as the lack of compute-in-memory chips and the ethical dilemma of its application, while also flagging the relevant risks of the technology.

“The evolving nature of AI also poses certain risks,” it said, adding that AI presents challenges to China’s efforts to protect intellectual property rights, personal privacy and fight against online fraud.