Chinas City Of Tianjin To Set Up 16-billion Artificial Intelligence Fund

Chinas City Of Tianjin To Set Up 16-billion Artificial Intelligence Fund

BEIJING - China's northern port city of Tianjin announced plans on Thursday to set up funds worth 100 billion yuan ($16 billion) to support the artif

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BEIJING – China’s northern port city of Tianjin announced plans on Thursday to set up funds worth 100 billion yuan ($16 billion) to support the artificial intelligence industry, official news agency Xinhua said.

China aims to become a world leader in artificial intelligence by 2025, taking on U.S. dominance in the sector amid heightened international tension over military applications of the technology. [nL3N1KB3P4]

Tianjin will pour the funds into developing sectors such as intelligent robots and hardware and software. It will also set aside 30 billion yuan in a sub-fund for intelligent devices and intelligent upgrades for traditional industries.

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