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China has 592 AI enterprises

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China has 592 AI enterprises

China has 592 AI enterprises

China has made important progress in the development of artificial intelligence (AI), with the number of AI enterprises reaching 592 as of June 2017, a report said Wednesday.

In 2016, the country 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 more than 1 billion U.S. dollars — in Internet and information industries in China, according to the report.

Among these “unicorns,” over 30 percent were e-commerce or Internet finance businesses, while culture and entertainment, automobile and transport, online medical service and AI companies also achieved rapid development, it said.

The report said that as of the end of last year, China had 102 publicly-listed Internet companies both at home and abroad with a total market capitalization of over 8.97 trillion yuan (1.42 trillion U.S. dollars).

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Article Credit: XINHUANET

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