AI sector sees big investment, financing in 2nick franklin disney017: Report

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BEIJING -- China"s artificial intelligence (AI) industry received about 180 billion yuan ($28 billion) of investment and financing last year, according to a recent report.

Intelligent driving, big data and data service were among the main areas of investment, according to a report released by China Academy of Information and Communications Technology.

China gained 28 new AI enterprises in 2017, compared with 128 new ones in 2016, the report said, adding that the fluctuation will not affect a long-term trend of growth.

China"s AI enterprises were mainly in Beijing, Shanghai and Guangdong last year. Beijing had the biggest number, with more than 260 AI enterprises.

The report predicted that China"s AI industry would continue to grow in 2018 with breakthroughs to be made in areas such as computer vision and voice technologies.

China unveiled an AI development plan last year, vowing to bring the value of core AI industries to more than 150 billion yuan by 2020, 400 billion yuan by 2025 and one trillion yuan by 2030.

It was part of a broader plan as China strives to encourage technological innovation and to boost its manufacturing capacity up the value chain.