China must embrace new era of AI revolution

February 21, 2024

BEIJING – The artificial intelligence leader OpenAI has unveiled a new AI model named Sora, which it asserts can generate “realistic” and “imaginative” 60-second videos based on brief text prompts.

Artificial intelligence is rapidly permeating every industry. In 2023, within two months of its launch, ChatGPT, a tool developed by OpenAI, ignited a global competition in the AI sector. While the risks associated with AI have heightened regulatory concerns, it’s evident the world is on the doorstep of a new era of AI development.

Beyond the core areas of chips and data, innovation in applications, especially in creating unique scenarios, is crucial. It determines whether AI technology can truly transform into tangible economic value and complete the commercialization loop. In response to the challenge posed by ChatGPT, major global players and start-ups alike are rolling out new products. Google has introduced Bard, now known as Gemini, a chatbot, and integrated AI-enhanced features into its products, and Microsoft has launched Bing chatbot and introduced AI-driven collaborative tools in its products.

Compared with traditional AI, Generative AI has four major advantages: automation, personalization, creativity and interpretability. No wonder GenAI has become a driving force of the new wave of innovations.

From media to finance, healthcare to transportation, GenAI, as a representative of universal AI technology, is making inroads primarily into the “soft” aspects of the service and manufacturing sectors. The sectors with the highest potential value include retail, consumer goods, finance, pharmaceuticals and medical products.

On the other hand, AI-generated content (AIGC) and learning from data elements are