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In the previous years, China has actually developed a solid foundation to support its AI economy and made significant contributions to AI globally. Stanford University's [AI](https://git.andreaswittke.de) Index, which assesses AI developments around the world across numerous metrics in research study, advancement, and economy, ranks China amongst the leading three countries for worldwide AI vibrancy.1"Global [AI](http://www.mitt-slide.com) Vibrancy Tool: Who's leading the international AI race?" Expert System Index, Stanford Institute for Human-Centered Artificial Intelligence (HAI), Stanford University, 2021 ranking. On research, for example, China produced about one-third of both [AI](http://117.72.17.132:3000) journal papers and [AI](http://195.58.37.180) citations worldwide in 2021. In financial investment, China represented almost one-fifth of global private investment funding in 2021, bring in $17 billion for [AI](http://47.122.66.129:10300) start-ups.2 Daniel Zhang et al., Artificial Intelligence Index report 2022, Stanford Institute for Human-Centered Artificial Intelligence (HAI), Stanford University, March 2022, Figure 4.2.6, "Private investment in AI by geographic location, 2013-21."
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Five types of [AI](https://ipen.com.hk) companies in China
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In China, we find that AI companies typically fall into among five main categories:
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Hyperscalers establish end-to-end AI innovation capability and collaborate within the community to serve both business-to-business and business-to-consumer companies. +Traditional market business serve clients straight by developing and adopting [AI](https://www.telewolves.com) in internal transformation, [garagesale.es](https://www.garagesale.es/author/agfjulio155/) new-product launch, and customer care. +Vertical-specific AI companies develop software and solutions for particular domain usage cases. +[AI](http://lifethelife.com) core tech service providers supply access to computer system vision, natural-language processing, voice recognition, and artificial intelligence abilities to develop AI systems. +Hardware companies offer the hardware facilities to support [AI](https://younghopestaffing.com) demand in calculating power and storage. +Today, AI adoption is high in China in financing, retail, and high tech, which together account for more than one-third of the nation's AI market (see sidebar "5 kinds of AI companies in China").3 iResearch, iResearch serial market research study on China's AI market III, December 2020. In tech, for instance, leaders Alibaba and ByteDance, both home names in China, have become understood for their highly tailored [AI](http://stockzero.net)-driven consumer apps. In fact, most of the AI applications that have been widely embraced in China to date have remained in consumer-facing markets, propelled by the world's biggest web customer base and the capability to engage with customers in brand-new ways to increase customer loyalty, profits, and market appraisals.
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So what's next for [AI](https://gigsonline.co.za) in China?
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About the research study
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This research study is based upon field interviews with more than 50 experts within McKinsey and across markets, along with substantial analysis of McKinsey market assessments in Europe, the United States, Asia, and China particularly between October and November 2021. In performing our analysis, we looked outside of business sectors, such as finance and retail, where there are currently mature AI use cases and clear adoption. In emerging sectors with the highest value-creation potential, we focused on the domains where AI applications are currently in market-entry stages and might have an out of proportion impact by 2030. Applications in these sectors that either remain in the early-exploration stage or have fully grown market adoption, such as manufacturing-operations optimization, were not the focus for the purpose of the research study.
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In the coming decade, our research indicates that there is incredible opportunity for AI growth in brand-new sectors in China, including some where development and R&D spending have generally lagged global equivalents: vehicle, transportation, and logistics \ No newline at end of file