Shang­hai sets up AI fund

Global Times - - Biz Update -

The lo­cal gov­ern­ment in Shang­hai has un­veiled guide­lines to de­velop the ar­ti­fi­cial in­tel­li­gence (AI) sec­tor by grant­ing special funds and en­hanc­ing sup­port, ac­cord­ing to me­dia re­ports.

The lo­cal gov­ern­ment aims to de­velop sev­eral ar­eas, in­clud­ing smart driv­ing, smart ro­bots, smart hard­ware and smart chips, do­mes­tic news site thep­a­per.cn re­ported on Tues­day, with the mar­ket scale of core chips used in the AI sec­tor ex­pected to reach 20 bil­lion yuan ($3.01 bil­lion) by 2020.

The lo­cal gov­ern­ment has not yet dis­closed how much fund­ing will be granted to the in­dus­try.

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