China Will Build $2 Billion AI Research Park

China Will Build $2 Billion AI Research Park

Bejing is building a $2.12 billion AI development park as part of China`s wish to become one of the major world`s leaders in artificial intelligence by 2025.

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Bejing is reportedly building a 13.8 billion yuan ($2.12 billion) artificial intelligence development park as part of China`s wish to become a world leader in AI by 2025.

In the beginning of January this year, Reuters reported that the planned Chinese AI park will be home to up to 400 enterprises while having an estimated annual output of 50 billion yuan. The new park tries to attract enterprises that work on big-data, biometric identification, deep learning, and cloud computing, among others, as the Xinhua news agency wrote.

It is further speculated that China`s decision to invest in AI comes as a response to the tensions between Bejing and the United States. AI could indeed find application in military technology and could turn into a major competitive advantage for the country that invests in the technology.

The State Council of China reportedly states they would grow the local industry to over 150 billion yuan by 2020, increasing the sum to 400 billion yuan by 2025.

In fact, the AI industry in the country has attracted the interest of foreign companies like Alphabet Inc`s Google that announced the launch of a Beijing-based AI research team that hopes to benefit from local talent.

Also, China has spoken about its plans to encourage investment and research in AI in the hope to find the cooperation of private and public military firms. The idea is to boost the national AI goals as listed in the development roadmap released in 2017, according to Reuters.