China wants to build a $150 billion AI industry

Artificial intelligence is no exception. Beijing laid out a timeline on Friday for when it expects the country to become a global leader in the frontier technology. By 2020, China's AI technologies and research facilities will match other leading countries, said Li Meng, the vice minister of science and technology. Five years later, he expects "a big breakthrough," and then China should finally become the global "innovation center for AI" by 2030. The remarks at a press conference expand on a policy statement released by China's State Council on Thursday, which set out goals to build a domestic artificial intelligence industry worth nearly $150 billion in the next few years.