China to construct $2 billion Artificial Intelligence development park
China's ambition of becoming a world leader in Artificial Intelligence is all set to take off with the country's new AI development park.
China is planning to build a 13.8 billion yuan ($2.12 billion) artificial intelligence development park.
The project will be developed by Zhongguancun Development Group in collaboration with foreign universities.
It will be designed to attract enterprises that work on big data, biometric identification, deep learning and cloud computing.
The park will be constructed to house up to 400 enterprises and to yield an annual output of 50 billion yuan.
It will be built in west Beijing.
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China aspires to become a world leader in Artificial Intelligence by 2025.
There is an increasing competition between China and United States of America for utilising the Artificial Intelligence technology in the military.
In the development roadmap released by the country in 2017, China unwrapped a series of plans to boost talent, investment and research in Artificial Intelligence. The roadmap also wanted collective efforts from private, public and military firms on national AI goals.
AI is the intelligence displayed by machines, wherein the device perceives its environment and takes action.