China's Rise in Artificial Intelligence

秋云飞

The Goldman Sachs Group, Inc.

Table of contents
AI rises in the East  2
China AI launches: A new national development plan  4
China has made major strides in AI vs. the rest of the world  6
Key drivers of value creation in China AI  9
Talent: China attracting the world’s best minds  9
Data: 44 zettabytes to be exploited in benign regulatory environment  10
Infrastructure  10
Silicon  12
Baidu.com Inc (BIDU): “All in AI”  13
Scientists and research team at Baidu  13
Data at Baidu  13
AI at Baidu  14
Baidu valued at US$326 by 2020E  19
Alibaba (BABA): A world-leading use case for AI  20
Apsara: AliCloud’s independently developed super computational system  20
Data at Alibaba  23
“Fully loaded 2020 valuation”  24
Tencent (0700.HK): AI significant potential to monetize portfolio  26
AI research at Tencent  26
Data at Tencent  26
Use case of AI at Tencent  27
Implications of AI on Tencent’s business  28
Fully loaded valuation on Tencent  29
Meituan Dianping: World’s largest O2O platform  31
DiDi Chuxing: 4,500TB ofdata processed daily  35
iFLYTek (002230.SZ): The leading player in China Intelligent Speech  37
Hikvision (002415.SZ): World leader in surveillance through AI lens  38
AI companies in China - the others  39
AI & the productivity challenge: An interview with Andrew Tilton  44
Appendix: What is artificial intelligence?  47
Disclosure Appendix  50