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AI firms are bolstered by new blueprint

THE share price of the artificial intelligence or AI-related firms, with business from voice recognition, facial recognition to robot, surged in the past week until yesterday, as China plans to draft national blueprint for AI to boost innovation and economy transformation.

Among the 58 domestically listed AI-related firms, more than 20 firms surged more than 5 percent in the past six trading days until Monday, according to finance information provider Eastmoney. The shares of CSG Smart Science & Technology, with smart manufacture and robot business, surged 7 percent while Iflytek Co offering voice recognition services jumped 1.2 percent in the morning session today.

China is drafting the national blueprint for AI development, which will be released soon. AI will play important roles in economy efficiency, social development, environment protection and national security sectors in China, Wan Gang, the minister of the Science and Technology, said in a meeting during the National People's Congress recently. It was also the first time a technology industrial word appearing in the top political conference.

“AI is probably the next big wave after the Internet and mobile Internet in the industry,” said Yu Yanze, an analyst of Dongxing Securities.

Artificial Intelligence will create 25 million to 50 million new jobs in the next decade  globally and is expected to influence manufacture, finance and home service markets in China, said UBS recently.

China should establish nation-level AI lab and related industrial alliance, which will fasten the development of AI. Simular industrial alliance has been founded in the United States by giants including Google, Facebook, IBM, Microsoft and Amazon, said Liu Qingfeng, chairman of IFlytek, China’s biggest voice recognition service providers with clients including smartphone vendors and car makers.


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