Report says Shanghai's AI industry luring more global capital

Shanghai's artificial intelligence enterprises, especially those involved in autonomous driving and smart manufacturing, are drawing the attention of global capital, thanks to an improved business environment, an industry report has said.

The city is currently home to more than 5,000 AI firms, ranking No. 8 globally and making it a world-class AI innovation base. Between 2018 and 2021, Shanghai added 130,000 new AI patents, with more than 90,000 patents granted. In terms of applications, human-computer interaction and wearable devices were at the top, according to Intsig.

Shanghai-based Intsig has a database called Qixinbao, which has 100 billion units of business data for 230 million enterprises, covering registration information, shareholders, credit, patents, trademarks and asset changes. It offers data and AI analysis services for several government organizations.

About 8.2 percent Shanghai's AI firms boast overseas investments, triple the national level of 2.6 percent. In the recent five years, every 100 AI firms in Shanghai had obtained overseas investment twice each on average, mainly covering the autonomous driving and smart manufacturing sectors, according to Qixinbao.

Ti Gong

In June, Continental invested in Motovis Intelligent Technologies, a Shanghai-based startup, to jointly develop Level 2 to 4 autonomous mobility services for the Chinese market and customers.

"As an outstanding startup (in Shanghai), Motovis has a team of highly efficient technical specialists with fast and responsive software development capabilities. The joint development will speed up the mass production of intelligent solutions for autonomous driving," said Frank Petznick, head of Continental Autonomous Mobility Business Area.

Meanwhile, a city-level AI blueprint, which aims to support local industry development and boost digital transformation, has taken effect in Shanghai since October. It's the first of its kind nationwide.