Innovation crucial for AI firms, say experts
Artificial intelligence industry insiders have called for more research and innovation to spur industry development after a tech hub in Beijing offered funding of up to 30 million yuan ($4.2 million) for AI startups.
On Monday, the capital's Haidian district issued a policy specifying that from Oct 28, companies and platforms in Beijing focusing on key AI technological innovation fields involving AI chips, core algorithms, operating systems and basic software can seek funding for research and development. Some cutting-edge AI innovation projects may get funding support for three consecutive years, it said.
An expert panel with four to five top specialists in the industry will be organized to review the materials submitted by companies and decide the allocation of funding, authorities said.
