satyamkapoor

I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First. ...

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I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First.

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Beijing plans to invest $2 billion to build national level Artificial Intelligence Lab

By satyamkapoor |Email | Jan 3, 2018 | 6747 Views

Biejing plans to invest 13.8 billion yuan ($2.12 billion) for building an artificial intelligence development park in the city's west, as reported by official Xinhua news agency. China is ambitious to become the world leader in AI by 2025.
The AI park will be home to around 400 enterprises and have an estimated annual output of 50 billion yuan. Zhongguancun Development Group, which is the developer of the project looks forward to partnering with foreign universities to build a national level AI lab.

Zhongguancun Development and representatives for Beijing's Mentougou district could not be immediately reached for comment. China's plan to fast-track AI development comes amid heightened tensions between Beijing and the United States over the competitive applications of AI in military technology.

China aims to grow the local industry to over 150 billion yuan by 2020 and 400 billion yuan by 2025, according to the State Council. Locally, China has unveiled a series of plans to bolster talent, investment and research in AI, urging\ private, public and military firms to cooperate on national AI goals in a development roadmap released in 2017.

The country's burgeoning AI industry has also attracted foreign firms. Last month, Alphabet Inc's Google announced it would launch a Beijing-based AI research team, targeting local research talent, even though the US firm's search engine remains blocked behind China's firewall.
This new park will look to attract enterprises that work on big data, biometric identification, cloud computing & deep learning.
Beijing also recently released blueprints for their autonomous driving zone which will be built in the city's outskirts. This will be dedicated to testing and developing local autonomous vehicles. 

Source: HOB Team