China: WeiyangX Fintech Review

China Issues Guideline on Artificial Intelligence Development Last week, China’s State Council has issued a guideline on artificial intelligence (AI) development, setting a goal of becoming a global innovation center in this field by 2030. The total output value of artificial intelligence industries is expected to surpass 1 trillion yuan ($147.80 billion). Developing AI is a “complicated and systematic project” according to the guideline. An open and coordinated AI innovation system should be constructed to develop not only the technology, but also products and market. AI in China should be used to promote the country’s technology, economy & social welfare, maintain national security, and contribute to the world. Breakthroughs should be made in some basic areas like big data intelligence, multimedia aware computing, human-machine hybrid intelligence, swarm intelligence and automated decision-making. Advanced theories which can potentially transform AI should also be looked at, including advanced machine learning, brain-like computing and quantum intelligent computing. Interdisciplinary research should be promoted to connect AI with other subjects, such as cognitive science, psychology, mathematics and economics. A common technology system should be developed based on algorithms, data and hardware. Technologies in the system include a computational knowledge engine, swarm computing, virtual reality modeling and…

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