China to Build USD 2.1B AI Park

In 2017, China told the world that it wants to be a global leader in AI by 2030. At the start of 2018, it unveiled plans to invest RMB 13.8 billion (USD 2.1 billion) in a 548,700 square meter park in Beijing's Mentougou district.

According to Xinhua, the state-run news agency, the park will be built along with Zhongguancun Development Group within the next three to five year. Authorities are looking to attract over 400 enterprises when completed. It will feature 5G connectivity and a supercomputer and will focus on high-speed big data analytics, cloud computing, biometric identification, and deep learning.

The Chinese Government is serious about becoming an AI leader. The announcement to be a world's leading AI innovation center by 2030 is part of the Next Generation Artificial Intelligence Development Plan initiative. It was unveiled soon after Google's AlphaGo defeated Chinese champion Ke Jie.

Over the past few months, Chinese AI companies grew as the Government launched various policy initiatives to help the sector forward. Domestic artificial intelligence companies like SenseTime and Megvii have seen their valuations soar as a result, and attracted funding and business deals with government entities.

Even top leadership is now joining the AI bandwagon. Internet users spotted two AI books on President Xi Jinping’s bookshelf during his New Year’s Day address.