Artificial intelligence takes center stage in China's Luohan Academy Event, reportedly bringing together the republic's biggest tech giants to discuss the booming technology's business implications.
Zhang Fan, chief operating officer of Zhipu AI, one of China's four AI "tigers," spoke at the 2024 Luohan Academy Annual Digital Economy Conference about how the tech unicorn assists businesses in training their own generative AI applications using application programming interfaces (API).
Zhang is bullish on the potential of the LLM application market, claiming that more than 80% of enterprises will be employing LLMs by 2026.
The event, conducted yearly to stimulate talks around social and economic concerns, is attaching greater importance to AI than previously since five of the six sub-forums during the conference featured the word "AI" in their major subjects.
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Alibaba's Luohan Academy
Alibaba claimed in October that the academy, which was formed as an open research center in 2018, has changed its organizational ties, staff makeup, and focus due to the e-commerce giant's reorganization.
Nonetheless, some of the guest speakers are from Alibaba-related enterprises, executives, and researchers from other Internet companies. Huang Hao, senior vice president of fintech giant Ant Group, emphasized how the company's LLM-based services may boost insurance sector efficiency.
Zhang Kaifu of Alibaba International Digital Commerce Group addressed the company's experience using self-developed generative AI technologies to help small and medium-sized firms expand into international e-commerce marketplaces.
The AI Race
The Luohan Academy event occurs at a critical moment in the AI race, with the United States and China competing to stay ahead.
Experts reportedly say that while Chinese IT titans may not have the same fiscal firepower as their American rivals, they benefit from China's fast infrastructural development.
According to Henry He, executive director of Kingsoft Cloud, China's powerful processing capacity and network infrastructure provide a solid platform for AI training and deployment, much beyond what was available just a few years ago.
The solid infrastructure serves as an important launchpad for AI development. Powerful processing resources are required for training complex AI models, whereas dependable networks enable seamless data transfer and real-time implementation of AI solutions.
Even Elon Musk, one of the world's richest men, is optimistic about China's prospects for AI development. Tesla's CEO said that the company may eventually become an AI powerhouse.
Maryann Tseng, senior managing director of SenseTime, a renowned Chinese AI business, emphasizes the "significant drive" of younger generations seeking to create and alter the world. This passion drives progress in AI research and development.
SenseTime's engagement with premier academic institutions expands its talent pool and creates a dynamic atmosphere for pioneering AI research.
