Big data is so 2015, it's now about AI: KPMG

In 2015, it was all about big data but venture capital (VC) investments in China will move increasingly into artificial intelligence (AI) this year, a KPMG study found. "Back in 2015, you get a lot of data points. Now, we're moving into the second phase where companies are trying to capture data, analyse the data...and monetize it," a KPMG China partner, Lyndon Fung, told CNBC's "Street Signs" on Thursday. He cited self-driving cars as an example of artificial intelligence technology that is poised to transform lives. In the report released last week, KPMG found investment by VCs in China reached a record high in 2016, despite a global slowdown.