China to Grow its AI Market from $2 Billion Today to $150 Billion in 2030

China has laid out a development plan to become the world leader in artificial intelligence (AI) by 2030, aiming to surpass its rivals technologically and build a domestic industry worth almost US$150 billion (S$204 billion).

Released by the State Council, the policy is a statement of intent from the top rungs of China’s government: Beijing will be investing heavily to ensure Chinese companies, the government and military leap to the front of the pack in a technology many think will one day form the basis of computing.