Shanghai to launch 15-bln-USD fund to develop AI

Added On September 20, 2018

Shanghai will launch a fund valued some 15 billion U.S. dollars to develop China's Artificial Intelligence industry.
Shanghai's municipal government made the announcement on Monday at the ongoing World Artificial Intelligence Conference 2018.
The fund will offer financial support to major AI projects and platforms.
AI enterprises will also be given access to data resources found in areas such as education, health care, and tourism.
The latest measures are part of Shanghai's efforts to promote the AI industry.
The initiative is focused on attracting more talent and capital, as well as optimizing the use of data resources.
The World Artificial Intelligence Conference 2018 is being held in Shanghai until Wednesday. 
This year's event, themed "A New Era Empowered By Artificial Intelligence," is aimed at boosting AI development in both China and the world.