Global market for AI: $37 billion by 2025, 26% of China's GDP by 2030

The global market for AI is projected to reach $37 billion in revenue by 2025, a 57-fold increase from $644 million in 2016, according to a new report from Tractica, a Boulder, Colorado-based market intelligence firm that focuses on human interaction with technology.

For China, AI-related industries are expected to generate up to 26 percent of its gross domestic product by 2030. The largest sector gains will likely be in retail, financial services and healthcare.

Last year, President Xi Jinping outlined the nation's technological ambitions in his opening address to the 19th National Congress of the Communist Party of China. It largely confirms previously announced plans for AI research, giving itself a target to become an "innovation center" by 2030.