State news agency Xinhua recently revealed that China is planning to build an artificial intelligence development park in the western part of Beijing. The AI park will reportedly cost around 13.8 billion yuan ($2.12 billion) and can accommodate up to 400 enterprises which is estimated to have an annual output of 50 billion yuan.

Project developer Zhongguancun Development Group is said to be looking for partners in foreign universities for the “national-level” AI lab in the area.

China has recently stepped up efforts in AI development prompted by tensions between Beijing and Washington over the military application of AI. According to the Chinese State Council, the country aims to grow the local industry to over 150 billion yuan by 2020, and 400 billion yuan by 2025.

 

Source: Reuters

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