China's AI industry set to post 75% growth

BEIJING - The market value of China's artificial intelligence industry reached 23.7 billion yuan (about $3.5 billion) in 2017, with the growth rate expected to reach 75 percent in 2018, according to a recent report.

Titled China's AI Development Report 2018, released by Tsinghua University, the report focuses on China's AI development regarding technology output, talent, market application and policies.

According to the report, China has become the most attractive country for AI investment and financing, with China accounting for 60 percent of the global total spending in that area from 2013 to the first quarter of 2018.