I. Market Size of Artificial Intelligence
According to market analysis data on artificial intelligence (AI), as of 2017, the Chinese AI market reached 23.74 billion yuan, a 67% increase compared to 2016. Among them, the computer vision market, with core technologies such as biometrics, image recognition, and video recognition, had the largest market size, accounting for 34.9% and reaching 8.28 billion yuan. The Chinese AI market size is projected to reach 41.55 billion yuan in 2021, a year-on-year increase of 75%. It is estimated that by 2023, the Chinese AI market size will exceed 200 billion yuan, reaching 236.4 billion yuan, with a compound annual growth rate of approximately 43.73% from 2021 to 2023.
In terms of application areas, artificial intelligence (AI) in my country is currently being used to varying degrees in many aspects of government, finance, internet, and retail sectors, including human-computer dialogue, remote operations, quality and risk control, marketing operations, and decision support. The main clients in these sectors are also primarily from these areas. Among them, government urban management and operations account for nearly 50% of the market share, becoming a significant driving force for the development of my country's AI industry. The internet sector follows with 18%, and finance with 12%.
II. What can Artificial Intelligence (AI) do?
Artificial intelligence (AI) lacks a strict definition, but broadly speaking, it's a computer system that makes decisions in an independent and flexible manner. AI differs from other computational processes in both the types and extent of problems it solves. While computers process numbers with a speed and precision that humans cannot replicate, it produces mechanical, unchanging results entirely based on its own internal logic. This isn't "intelligent." The system on my phone provides three options for every word I type, so it could be considered "intelligent" because it makes complex decisions based on constantly changing input. Computers often do things that humans cannot. In contrast, AI can do what humans can do, but often better, faster, and cheaper.
Artificial intelligence has been present in popular culture for generations. And it has been quietly present in our lives for almost as long. Some areas currently impacted by AI include: 1) Navigation apps: planning the best routes through cities, assessing different roads and conditions, and providing incredibly accurate arrival times. 2) Fraud detection: AI systems can detect fraudulent charges and refuse payment before you even know you've lost your credit card. 3) Social media: TikTok can recognize our preferences and make users addicted. The weapon of choice in the war between tech giants is artificial intelligence.
Artificial intelligence's contributions to transportation, finance, and media have already surpassed the value of cryptocurrencies. An interesting fact is that very few AI companies are registered in the Bahamas. AI will bring continued interdisciplinary advancements, much like the internet and personal computers. This is newsworthy, but not the reason for billions of dollars in investment.
What sets artificial intelligence apart is that it solves real-world problems, particularly those that are “fuzzy” or “vague.” These are problems that traditional computing techniques have struggled to address. Fuzzy problems are ubiquitous, especially in communication and interaction. For example, speech recognition technology has stagnated for decades, but AI is now propelling it forward, and we are approaching substantial natural language communication (e.g., Siri will be less bad, and Alexa will be better). Content moderation is also a fuzzy problem, difficult for humans. Investing, driving, and many semi-skilled tasks are also fuzzy. Most of life’s challenges and problems don’t have a single right answer, but additional data collection will lead us to better answers.
Artificial intelligence can recognize patterns and evaluate options. It can determine which Twitter post would make me want to participate in a discussion, what price on Amazon would incentivize me to click the buy button, and whether I'm likely to leave my AirPods at home. The past few months have witnessed an explosive growth in "generative AI."
