International Finance

China introduces AI ethics as it aims to be global AI leader by 2030

China AI ethics-IFM-image

China has introduced the “Ethical Norms for the New Generation Artificial Intelligence”, which is a set of ethical codes that aims to enhance user autonomy and protecting privacy. The document released by a government formed committee outlines six basic ethical guidelines for implementing and using AI in society.

The document is the first of its kind to be drafted in China and is in line with China’s 2017 national AI strategy. China wants to become a leader in artificial intelligence by overtaking the US by 2030.

In 2020, the size of the Chinese AI market amounted to over ¥128 billion. This year, the market is forecasted to reach ¥196.3 billion. Since 2016, the market size had increased almost ten-fold, according to Statisa.

A Chinese government website read,” The new generation of artificial intelligence ethics is to thoroughly implement the “New Generation Artificial Intelligence Development Plan”, detailed implementation of the “New Generation Artificial Intelligence Governance Principles”, enhance the artificial intelligence ethics awareness and behavior consciousness of the whole society, and actively guide responsible artificial intelligence research and development and application activities to promote the healthy development of artificial intelligence, and formulate this specification.”

According to Grand View Research, the artificial intelligence software market hit a value of about $62.3 billion in 2020 and is expected reach around $997.8 billion by 2028.

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