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China’s AI sector surges to 1.9 million firms

November 13, 2024 10:12 am
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China’s AI sector surges to 1.9 million firms

BEIJING: China’s artificial intelligence (AI) sector is experiencing rapid growth, with nearly 1.9 million AI-related organisations registered as of October 31.

According to the China Organisation Data Service under the State Administration for Market Regulation, over 60,000 manufacturing enterprises have integrated AI use into their operations.

The industry’s transformation and growth has been largely driven by supportive government policies that have fostered momentum in the sector and created favourable conditions for industrial advancement.

Southeastern China has become a major hub for AI development, accounting for 57% of the country’s total AI organisations.

Guangdong Province leads the way, with approximately 280,000 AI organisations, or 14.7% of the national total. Hainan Province has also seen rapid growth, with AI-related organisations increasing at an annual rate of 55%, reaching over 90,000.

Also Read: https://azaadenglish.com/data-secure-cybersecurity/

The technology and information sectors account for around 550,000 AI organisations, making up nearly 60% of the total.

In 2023, China’s core AI industry was valued at over 578 billion yuan ($80 billion), reflecting a 13.9% annual increase.

Web Desk
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Web Desk

Laila Tariq, currently associated with Azaad English, is an Islamabad-based journalist with over eight years of extensive experience across print, TV, and digital media.

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