China and the Intelligent Future: Bringing AI to the Real World

The United States is the undisputed leader in developing artificial intelligence technologies, but China is a very important second. While not on the cutting edge of research, Chinese companies are implementing AI in ways that will change the world Anyone who has ever tried to transfer large sums of money from one account to another in China knows how frustrating the experience can be. The standard procedure is to go to the bank in person, queue up, present your ID card, fill out lots of paperwork and then, depending on the length of the queue, wait an hour or more for it to be processed. Not anymore, thanks to AI (artificial intelligence). China Merchants Bank, a major bank in China, recently released a new version of their mobile app that allows customers to transfer large sums from anywhere and to have transactions securely verified by face scan using artificial intelligence. The whole process takes about a minute. “The app is quite smart,” says Lily Zhao, a busy woman in her early 30s in Shanghai who uses the technology. “It asks to scan your face if you’re not using your own phone or if it suspects anything unusual—even if you are…

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