China's AI Industry to Become Profitable Within Three to Five years, iFlytek Chairman Says

Jan. 11 – China's artificial intelligence industry will begin to turn a profit with three to five years and a more conventional industrial layout will emerge, Xinhua News Agency cited Liu Qingfeng, chairman of iFlytek Co, as saying at the CES global technology event in Las Vegas, US. Liu expects AI to replace many human jobs over the next decade but does not expect robots to become self-aware during the next 30 years. "Firstly, I think AI technology is truly coming to applications now. Secondly, there are hundreds of companies globally looking to cooperate with iFlytek and the opportunity for the company's industrial ecology to expand overseas is also ripe," Liu said, explaining the reasons for his firm's participation. The technology is capable of displaying translations between English and Chinese simultaneously as a presenter speaks. The English content was accurate, while the Chinese translation demonstrated relative fluency, Xinhua reported.