AI industry’s investment to reach RMB 160 bln by 2020
Nov 19, 2018 (China Knowledge) - Zhang Wei, General Manager of Artificial Intelligence (AI) Industry Research Center, CCID Research Institute, Ministry of Industry and Information Technology of China (MIIT) has said that the scale of AI industry is expected to exceed RMB 100 bln in 2018, and with the rapid development of the industry, it is even possible to exceed RMB 160 bln by 2020.
With the development of the AI industry, there is an increase in the number of investors in the field. The scale of investment in AI reached RMB 12 bln. However, in the first three quarters of 2018, the investment scale exceeded the total of 2016 and 2017.
By contrast, some of the experts believe that the AI industry is overvalued, and it may have a negative impact on the industry's development and continued financing.
According to the report data released by China Information and Communication Research Institute in February 2018, the proportion of computer vision technology in China's AI market is 37%, ranked first with industry revenue of RMB 8 bln.
Among them, security image analysis is the most significant application of computer vision, and the proportion is reached 67.9% in 2017, but new application fields are continually innovating, such as driverless vehicles and medical imaging.
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