Shanghai announces new blueprint to support AI development
Special bank credits, funds valued up to 100 billion yuan (US$14.3 billion), open databases and innovation centers as well as new city-level applications and cooperation projects on artificial intelligence are among a batch of new policies and projects the city has announced to support AI industry development.
To support the artificial intelligence development and achieve the target, Shanghai has drafted “Seven Activities” and “Five Tasks” to establish “first-class innovation ecosystem of AI” by 2021, government officials said during the World Artificial Intelligence Conference 2019, which closed on Saturday.
The activities include building several major AI industrial bases in Zhangjiang, Jinqiao and Lingang; establishing innovation platforms and labs between academic organizations and firms; attracting AI talent and founding AI funds.
The city-level AI fund will initially be about 10 billion yuan (US$1.4 billion) with investors like Guosheng Group, Lingang Group, the China (Shanghai) Pilot Free Trade Zone Lingang Committee and YF Capital. Finally, the funds’ value will hit 100 billion yuan.
In detail, Shanghai is expected to have 200,000 AI talents by 2021, double the current level.
The tasks include building innovation platforms, attracting high-end and young talent, encouraging innovation applications and improving systems and business environment.
A total of 19 AI scenes are being developed, covering hospitals, libraries, the state grid, bank transactions, garbage sorting and metro management, which will change people’s daily life and boost economic transformation.
During the WAIC closing ceremony, 33 projects were signed to boost Shanghai’s AI development, including new local centers and cooperation projects involving IBM, SAP and local startup DeepBlue.
DeepBlue, which has labs and facilities in Asia, Europe and America, also held a Belt and Road sub-forum at the WAIC. Global researchers and business executives talked about AI applications like computer vision, smart driving, biological intelligence and natural language processing in the forum.