Over the last year, there have been a growing number of media reports on Chinese advances in artificial intelligence (AI), as well a state-led push to boost the industry. The results: "China lags far further behind than many had imagined." In related news, Reuters says that internet giant Baidu, one of China's leading AI firms, will form a "7 billion yuan ($1 billion) private equity fund together with China Life Insurance Group, one of the country's biggest insurers. The find will focus on "unlisted companies with'significant association;' with China, in the internet sector, including mobile internet, artificial intelligence, and internet finance." For more on AI in China, listen to these Sinica Podcast episodes with Kai-fu Lee 李开复 and Andrew Ng.