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Vertex Perspectives Global AI Hub? The V Factors Powering China’s Rise July 2017 The V factors driving China’s global AI hub evolution The principal factors enabling China’s as a global AI hub include: [1] the presence of industries keen to employ AI for digital transformation, [2] the breadth and depth of talent pool [3] significant mobile internet market, [4] access to high-performance computing as well as [5] supportive government policies. Importantly, factors [1] & [2] avail China with a distinct competitive advantage in its evolution as a global AI hub. Industries keen to employ AI for digital “Whoever wins artificial intelligence will transformation win the Internet in China and around the world....”- Andrew Ng “I see mega-trends that make China an Supportive and Breadth and depth of governmentinitiatives incredible market…….…its an incredible policies talent pool marketplace for talent and in terms of the size of the marketplace…..we’re focusing on autonomous systems. It’s a core technology that we view as very High Significant important…. (it’s) the mother of all AI performance mobile internet computing market projects” – Tim Cook Source: Vertex Ventures China | This is why China has the Edge in Artificial Intelligence by Lee Kai Fu | Baidu Embraces Artificial Intelligence to Build a Better Search Engine by Bloomberg | Tim Cook Says Apple Focused on Autonomous Systems in Cars Push by Bloomberg | Apple's Cook Says China Is a Huge Opportunity Over Time by Bloomberg Factor I: Industries keen to use AI for digital transformation Growth Catalyst Multi-Industry Application(s) AI as Strategic Lever Economic Multiplier • When non-AI technology • Demand for AI is expected to be • The country’s tech giants are racing • According to McKinsey, China has companies grow to a certain size, broad-based including State- to ramp up their efforts in AI. For benefited greatly from a they typically need to explore using Owned Enterprises (SOEs) in instance, Baidu is developing its “demographic dividend” in the past AI in order to upgrade and scale. traditional industries including own autonomous driving system few decades but is expected to lose There are also many traditional finance, telecoms, agriculture that with an AI team of more than 1,300 that momentum as its population Chinese companies lagging behind favor domestic AI solutions and experts, while Alibaba Cloud’s ages. US enterprises in terms of the level service providers. machine-learning platform, PAI is • Going forward, AI-led automation of technological adoption. offering AI services to help • Other sectors (e.g. education) are can provide the Chinese economy a businesses with data analysis. • According to a McKinsey survey, AI also expected be a major potential productivity injection that could add is not yet a strategic priority for beneficiary given AI’s efficacy. For • Tencent has also established a 0.8 to 1.4 percentage points to GDP more than 40 percent of companies instance, edtech startup Xuebajun’s dedicated team of 250 scientists growth annually, contingent on the in traditional industries in China. AI (i.e. Aidam) beat most of the top and engineers, and invested in speed of adoption. Consequently, many of them are human students in the math Chinese healthcare AI start-up • The rise of AI is also likely to create not yet capturing the data they college entrance exam. iCarbonX. new products and services as well as need to support future AI adoption. • Aidam also offers machine-marking, • Although many Chinese tech new occupations and businesses. • For example, agriculture firms personalized guidance and learning, companies have made seldom consider recording detailed lesson planning and other functional technological breakthroughs within information about issues such as capabilities to assist private tutors, their fields of expertise, it will take planting schedules or the impact of having the potential to transform years before the practical weather on output. the entire educational experience. application of AI technology is realized. • These companies have data and financial heft, and are eager to • Scientists often refer to AI as the invest once AI experts present them core of the next wave of with business growth opportunities industrialization, and whoever leads or substantial cost-savings. the frontier in the AI industry will have an edge in future growth. Source: Vertex Ventures China | How China is Becoming a World Leader in Artificial Intelligence by China Briefing | This is Why China has the Edge in Artificial Intelligence by Lee Kai Fu | China to Lead the World in Artificial Intelligence, Says Top Microsoft Executive by the SCMP | China’s Artificial-Intelligence Boom by The Atlantic | China Outlook 2016 by KPMG | McKinsey Factor II: Breadth and depth of talent pool Applied Research Experience & Expertise Talent Cost & Migration AI Specialization • Chinese scholars are actively • Experienced, top AI talent in China • Chinese companies such as Baidu • At the application level, China is on a involved in AI research, and also appears to be uncommon. Of have hired some high-profile AI par with other countries in algorithm approximately 43% of top-notch the 250,000 AI professionals listed experts from the US, and they see development. academic papers relating to AI were on LinkedIn, nearly 50% of those an unprecedented opportunity to • In particular, China’s AI scientists are published with one or more with 10 years of experience or more hire more talent from Silicon Valley disproportionately specialized in areas Chinese authors. are in the US. China's share is less in the wake of US President Donald such as computer vision and voice than 25%. Trump’s immigration policy. • Chinese researchers are perceived recognition, creating gaps in some to be pragmatic and look to • China may need to focus on • Some practitioners in the AI other areas. discovering new use cases for AI vs. developing more elite data industry are paid salaries deemed • On the other hand, China lags behind fundamental research by their scientists, particularly in areas of AI unfairly high and experts are in fundamental research – it has less counterparts in the US. where shortages are becoming leaving companies to establish AI experienced data scientists and fewer apparent. At the same time, more startups (e.g. NetPosa). than 30 university research labs business leaders and middle • About a quarter of US high-tech focused on AI. managers may need to acquire firms are founded by immigrants. technology skills and hone their ability to understand and apply data. • On the other hand, China has a deep pool of engineering talent – an important consideration for the development of AI applications. Source: Vertex Ventures China | How China is Becoming a World Leader in Artificial Intelligence by China Briefing | This is Why China has the Edge in Artificial Intelligence by Lee Kai Fu | China to Lead the World in Artificial Intelligence, Says Top Microsoft Executive by the SCMP | China’s Artificial-Intelligence Boom by The Atlantic | China Outlook 2016 by KPMG | Google Goes to China, Making Play for Talent and Attention by Fox Business Factor III: Significant mobile internet market Large Mobile Internet Market Data Deluge App-Based AI Adoption Barriers to Entry • According to the January 2017 • With millions of customers, the • Existing internet users constitute a • Chinese tech companies enjoy China Internet Network Center sheer volume of internet user data massive market for AI adoption in barriers to entry, given that much of report, China had 731M internet provides China’s tech companies the future. China’s internet sector is off-limits to users, 95.1 % of which are with a massive amount of raw foreign companies such as Google • When AI applications are ready, smartphone users as of December material to run their algorithms and and Facebook. apps such as the Chinese search 2016. refine their AI programs. engine Baidu, the third-party • Chinese tech companies also have • 496M Internet users made digital • Baidu, Didi and Tencent have all set payment app Alipay, the mobile exclusive access to Chinese internet payments with their smartphones, up their own AI research labs. messaging service WeChat, and the users’ data, enabling them to test and 168M users used chinese pinyin input system Sougou algorithms and consolidate customer smartphones to hail taxi services. Input will be able to apply AI cluster(s) - further strengthening their technologies through their services. dominant position(s). • The growth rate of both categories of internet users have • For example, Alibaba has applied a exceeded 30% annually. face recognition tool in its Alipay app, and 150M users have already started to use this function. Source: Vertex Ventures China | How China is Becoming a World Leader in Artificial Intelligence by China Briefing | This is Why China has the Edge in Artificial Intelligence by Lee Kai Fu | China to Lead the World in Artificial Intelligence, Says Top Microsoft Executive by the SCMP | China’s Artificial-Intelligence Boom by The Atlantic | China Outlook 2016 by KPMG | McKinsey | The China Internet Network Information Center Factor IV: Access to high performance computing Hardware Technologies Rapid HPC Development Chip-Making Capabilities Global Value Chain • China’s tech industry continues to • Sunway TaihuLight is a massive • Computing power is part of the • All aspects of the AI value chain, from find breakthroughs in this field with supercomputer developed by basic infrastructure underlying AI fundamental research
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