Chinese artificial intelligence (AI) industry has undergone explosive growth since 2015, with the number of AI enterprises reaching 4,040 as of May this year, Science and Technology Daily reported Monday.
Beijing has 1,070 AI companies, accounting for 26 percent of the national total, according to a report on Beijing AI industry development, released by the Beijing Municipal Commission of Economy and Information Technology (BMCEIT) at the 22nd China International Software Expo on Saturday.
Among the 1,237 AI companies that have already acquired venture investment, 431 are based in Beijing, accounting for 35 percent, according to the report.
And 56.9 percent of the AI companies in Beijing have not completed A-round financing, indicating that most are still in the start-up stage with potential for further development.
A number of AI products and companies have emerged in Beijing in recent years, making the city an AI innovation hub in China, said You Jing, deputy director of BMCEIT’s software office.
“Beijing has formed an AI industrial cluster, thanks to the favourable policies, an innovation and entrepreneurial atmosphere, capitals, enhanced software development and patent protection it has benefited from,” said You.
The report says most AI companies in Beijing are in the fields of health care, household appliances, urban management, retail, and self-driving.