Caohejing park bets on 5G and AI

Artificial intelligence and 5G technologies have become dual growth engines of the Caohejing Industrial Park, a name card of Shanghai’s high-tech and innovation development.

More than 3,600 high-tech firms have set up facilities in the industrial park, including 139 investment projects from Fortune 500 companies. The companies, projects and high-tech innovation make Caohejing a “world-class” innovation park, according to Zhan Feng, the general manager.

With AI and 5G projects and innovation, it has become one of the top innovation parks in Shanghai for entrepreneurship, incubation and investment environment and talent gathering, Zhan said at a ceremony on Thursday to mark the park’s 35th anniversary ceremony.

In her speech at the ceremony, Justine Cassell, a professor at the Carnegie Mellon Human Computer Interaction Institute, said integrated AI and 5G would bring performance-safe autopilots, always-on government functions, upgraded education and more advanced manufacturing.

By 2020, China’s digital economy industry revenue is estimated to hit 150 billion yuan (US$21 billion) and 1 trillion yuan in 2030.

Giants with AI features and AI leading firms such as ByteDance, SenseTime and Bosch have set up facilities in Caohejing.