China builds up 592 AI enterprises

Source: Xinhua | 2018-02-01

CHINA has made progress in the development of artificial intelligence, with the number of AI firms reaching 592 as of June 2017, a report said yesterday.

In 2016, China saw 30,115 applications for AI-related patents, said the 41st China Statistical Report on Internet Development, which was released by the China Internet Network Information Center.

As of December 2017, there were 77 “unicorn companies” — private startups valued at over US$1 billion — in Internet and information industries in China, the report said.

Over 30 percent of these “unicorns” were e-commerce or Internet finance businesses, while culture and entertainment, automobile and transport, online medical service and AI firms also developed rapidly, it said.