In a meeting with Microsoft President and Vice Chair Brad Smith, Chen Jining, the Communist Party Secretary of Shanghai, conveyed the city's keen interest in Microsoft playing a pivotal role in advancing artificial intelligence (AI) technology to bolster local businesses. Shanghai's authorities expressed openness to potential collaboration with Microsoft in exploring technology-related governance frameworks and standards.
Microsoft currently offers more than twenty AI products in the People's Republic of China and actively supports the development of AI software and applications at local research campuses. The company's commitment extends to the engagement of thousands of Chinese employees, significantly contributing to the progression of China's AI expertise. Notably, in 2014, Microsoft became the first foreign company to deliver public cloud computing services in the Chinese market, solidifying its presence. Furthermore, Microsoft announced plans in March of the current year to integrate OpenAI into its suite of cloud services in the region, showcasing a continuous commitment to advancing AI capabilities in China.
Shanghai, in recent years, has intensified its efforts to propel the growth of its AI sector, witnessing substantial expansion in the scale of its AI industry. The cumulative output value of AI enterprises in the city surpassed $42.73 billion in 2021. Recognizing the strategic importance of AI, Shanghai has designated it as one of the three key industries for concentrated development, alongside integrated circuits and biomedicine.
To fuel innovation in the region, Shanghai initiated an investment fund with an initial capitalization of $707 million, backed by the National Social Security of China. The fund aims to nurture advancements in artificial intelligence, biopharmaceuticals, and new energy vehicles. Aligned with its vision for 2030, China aspires to lead in global AI, surpassing the United States in technological advancements and securing a dominant position in global innovation and cognition.
Shanghai's proactive approach in seeking collaboration with Microsoft underscores China's resolute commitment to achieving leadership in global AI. The city's emphasis on promoting AI technology for local businesses aligns with China's overarching goal of becoming a frontrunner in AI, signaling a determination to steer global advancements in this transformative field.