China's Artificial Intelligence Sector Could be Worth 100 Billion Yuan by 2018

Technicians of Tianjin Deepfar Ocean Technology Co., Ltd., tests a new developed Underwater Unmanned Vehicle which is named'White Shark Max' in water on March 28, 2016 in Tianjin, China. For the next three years, China will be ramping up the development of its artificial intelligence (AI) sector as it aims to establish a lucrative market that could be more than 100 billion yuan ( 15.26 billion). This, according to a statement released by the National Development and Reform Commission through its website last Monday. Based on the Central Government's three-year implementation plan for its "Internet Plus" artificial intelligence program, China will create platforms for fundamental AI resources and innovation, and work towards achieving breakthroughs on basic core technology, The plan is a collaborative effort of the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, and the Cyberspace Administration of China. Through these efforts, China's artificial intelligence sector seeks to be at par with its global competitors by 2018.