According to a new forecast released by a Beijing think tank, China’s generative AI market is expected to be worth 30 trillion RMB (4.2 trillion USD) by 2035, the South China Morning Post reported on 15 December. This will be equivalent to a third of the global generative AI industry, expected to be worth 90 trillion RMB (12.6 trillion USD) by the same time frame.
The report from the CCID Group, a think tank associated with China’s Ministry of Information and Technology, also underscored that China’s AI market is anticipated to hit 10 trillion RMB (1.4 trillion USD) this year. According to one of the group’s analysts, this has been driven by a recent rapid uptick in the adoption rate of AI technologies in traditional sectors like manufacturing, retail, telecoms and healthcare.
At present, the overall adoption rate of generative AI in China sits at 15%. According to analysts at the CCID Group, the retail and telecom industries lead in AI adoption, with rates of 13% and 10% respectively. Following closely are healthcare and manufacturing, with adoption rates of 7% and 5%.
Since the introduction of OpenAI’s ChatGPT in late 2022, there has been a proliferation of similar technologies in China. Key players in the Chinese tech industry, including Alibaba, Baidu, Tencent, ByteDance, SenseTime, and iFlyTek have entered the arena, introducing their own AI offerings for the domestic market. These companies are actively piloting AI integration across their organizational processes, emphasizing its potential to enhance operational efficiency.
