
IDC FutureScape's Top Ten Predictions for China's AI Market in 2024
Want to read in a language you're more familiar with? Please click the pink icon below for one-click AIPlease click the pink icon top right for one-click AI translation
The International Data Corporation (IDC) forecasts that by 2027, global investments in artificial intelligence (AI) will reach $423.6 billion, demonstrating a compound annual growth rate (CAGR) of 26.9% from 2022 to 2027.
The International Data Corporation (IDC) forecasts that by 2027, global investments in artificial intelligence (AI) will reach $423.6 billion, demonstrating a compound annual growth rate (CAGR) of 26.9% from 2022 to 2027. China's contribution to this investment is projected to be $38.1 billion, making up nearly 9% of the total global investment.
Recent technological advancements and market maturity have spurred Chinese companies to speed up their integration of intelligent systems. The emergence of large AI models in late 2022 opened new avenues for companies just entering the market. Prior to this, many businesses faced challenges in scaling AI technology from isolated trials to comprehensive applications due to the lack of streamlined talent and resources.
The complexity of implementing intelligent technology has also been a barrier to digital transformation in companies. However, the advent of large AI models has simplified this process, enhancing AI's adaptability and fostering the growth of innovative products and solutions. Looking ahead, the "model as a service" business approach could revolutionize the market landscape, guiding China into a new phase of digital business evolution.
Here are IDC FutureScape's top ten predictions for the Chinese artificial intelligence and automation market in 2024:
SEE ALSO: Baichuan AI Releases Large-scale Model Baichuan 3 with Parameters Exceeding One Trillion