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Asia Business Technology

China: AI Giant in the Making

TikTok light
Morning Consult ranked TikTok as the third fastest growing brand of 2020.

Bernard Marr, a well-known business and technology advisor, says that China is quickly closing the technical gap between them and the Western economies. China will soon become a worldwide leader in artificial intelligence (AI), big data, and machine learning.

Marr lists three reasons for this. One is access to a huge domestic market of 1.4 billion consumers, the biggest domestic market in the world. The second reason is that AI is a top priority for the Chinese government. There seems to be a clear consensus that AI is quickly revolutionizing consumers’ lives. The third reason is China’s continuous protectionism. It protects its internal market, blocking major US-based AI players like Facebook and Google.

China already has numerous AI giants. Alibaba is one of them. It is an enormous e-commerce platform that hit record sales of around $72 billion in 2020. Another one is Baidu, whose hit product is their highly popular search engine. Over 70% of Chinese search inquiries go through Baidu. Other global players include Tencent, which owns WeChat, a hugely popular platform for all kinds of services, and ByteDance that is behind the tech darling TikTok. 

Read the original article here.

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