China’s AI initiatives to pay off with broad industrial applications, iFlytek founder says

Liu Qingfeng, who serves as chairman at iFlytek, says AI advances are at a ‘critical stage’ in the world’s second largest economy

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A booth by iFlytek, one of China’s designated national champions in artificial intelligence, is seen at the 2019 Smart China Expo in Chongqing on August 27. Photo: Getty Images

Published: 6:00pm, 10 Dec 2019Updated: 10:19pm, 10 Dec 2019

China’s efforts in artificial intelligence (AI) development are starting to pay off, with wider industrial applications set to be deployed, amid the protracted tech and trade war with the United States.

Liu Qingfeng, the founder and chairman of iFlytek, highlighted that progress on Monday at a conference in Beijing, where he said AI advances were now entering a “critical stage” in the world’s second largest economy, without elaborating.

His positive forecast at the event, the transcript of which was verified by Shenzhen-listed iFlytek, included predicting a fast rate of AI adoption across most industries in China, resulting in increased efficiency at many businesses.

The rosy prospects presented by Liu come at a challenging time for iFlytek, one of Beijing’s designated national AI champions. In October, the Trump administration added iFlytek, China’s leader in voice recognition technology, and other major AI companies to the US trade blacklist, which restricts their access to American hi-tech components like semiconductors and software.

Liu Qingfeng, founder and chairman of iFlytek, speaks during the 2019 World Artificial Intelligence Conference in Shanghai on August 29. Photo: Getty Images

That move shows how the US and China are jostling hard to dominate advanced technologies, from 5G to quantum computing and AI. The sharp rise in China’s AI patent applications and funding over the past few years has prompted the US government to take action, as the trade dispute between Beijing and Washington intensified.

Liu said in October that being blacklisted by the US would not have a significant impact on iFlytek’s operations, although the company will appeal to the relevant US government departments.