Chengdu’s AI Industry to Exceed $12.6bn by 2023 | Dao Insights

Chengdu’s artificial intelligence industry to exceed $12.6 billion by 2023

Chengdu is pushing to become a leader in the development of artificial intelligence according to new plans announced at Chengdu’s National Summit on the Application of AI Innovations in Pilot Zones, which was held on 28 May.

Under plans, the scale of the city’s artificial intelligence industry will exceed 80 billion RMB ($12.6 billion) by 2023. At the summit, Zhang Lujin, deputy director of the Chengdu Economic and Information Technology Bureau, said:

“based on the overall construction of the pilot zone, we will strive to complete an artificial intelligence innovation ecosystem that runs through the industrial chain, supply chain, and innovation chain.”

Chengdu is located in China’s southwest Sichuan province and is home to 9.3 million people. In 2020, more than 550 artificial intelligence companies operated in Chengdu with an industry scale of 20 billion RMB, an increase of 67% from 2019.

The city has been emerging as one of China’s leading AI hubs. A report from 2020 found that, of 883 companies surveyed, 17.67% of enterprises based in Chengdu invested more than one million RMB per year into the AI industry. Almost a quarter (23.56%) of businesses invested between 500,000 and 1 million RMB per year.

Chengdu has been developing artificial intelligence for a wide variety of applications, including robots, drones, smart medical care, and smart security.

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