We all know the reputation China has made in the tech industry – it was seen as an imitator. Now, they are planning on leading in areas from blockchain to artificial intelligence, technologies that are seen as being critical in the future.
In spite of the trade war between China and the US, people say that the country with the second-largest economy will keep pushing the domestic technology sector.
The future of artificial intelligence, blockchain, the smartphones, and the financial technology will be the topics discussed at East Tech West conference, held in the Nansha district of Guangzhou, China.
How is China handling things?
Artificial intelligence is a big term which englobes the technology that makes machines impersonates human intelligence when it comes to recognizing speech or images. Both Chinese and US firms are paying a lot of money in developing AI, and they both prepared their own national strategies by taking them into account.
Back in 2017, Beijing talked about its plans on becoming the world leader in artificial intelligence by 2030. They also have a goal: to make the industry worth 1 trillion yuan – that’s about $147.7 billion.
China has already made the most out of AI uses – just take a look at the facial recognition technology. However, we all the US as the leader here, especially when it comes to development and research. China is implementing its technology in facial recognition or speed recognition way too fast. The same goes for smart cities, the medical world and even self-driving cars. The US still has the lead on R&D, but China is catching up quite fast – take a look at some well-funded startups, like iFlytek, Face++, and Sensetime.
