China Seeks to Position Shanghai as Global AI Innovation Hub
(MENAFN) China is accelerating efforts to position Shanghai, its financial hub, as a premier global center for artificial intelligence innovation. The city unveiled a substantial subsidy program aimed at energizing the local AI sector and strengthening its competitive edge.
This initiative aligns with Chinese Premier Li Qiang’s recent proposal to create an international organization focused on fostering global collaboration in AI development. He made this call during his address at the World Artificial Intelligence Conference held in Shanghai on Saturday.
Chinese Foreign Ministry spokesperson Guo Jiakun emphasized the goal: "The aim is to unleash the dividends of AI, bridge the AI divide, and make sure that AI is for good," during a press briefing in Beijing on Tuesday.
Guo revealed that China is "tentatively considering establishing the organization’s headquarters in Shanghai to give full play to the city’s pioneering role in the field of AI and to pool consensus and advance cooperation," according to official remarks from the conference.
Coinciding with these diplomatic moves, Shanghai announced a significant 1 billion yuan ($139 million) subsidy program dedicated to advancing its AI industry. This initiative aims to rival investments by other major Chinese cities striving to build world-class AI ecosystems.
The subsidy funds are designed to reduce operational costs for AI start-ups and encourage the integration of AI technologies across local businesses. Specifically, financial support will cover expenses related to computing power, discounts on third-party AI models, and aid in securing datasets crucial for training new AI systems.
A joint statement released at the conclusion of the World Artificial Intelligence Conference described AI as a "new frontier in human development" and a "key driving force of the ongoing scientific and technological revolution as well as industrial transformation and an international public good that benefits humanity."
However, the statement also acknowledged that AI "presents unprecedented opportunities for development, and it also brings unprecedented risks and challenges."
"In the AI era, only through global solidarity can we fully unleash the potential of AI while ensuring its safety, reliability, controllability and fairness and ultimately deliver on the commitments outlined in the UN Pact for the Future," it concluded.
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