China's AI Industry to Become Profitable Within Three to Five years, iFlytek Chairman Says(Yicai Global) Jan. 11 – China's artificial intelligence industry will begin to turn a profit with three to five years and a more conventional industrial layout will emerge, Xinhua News Agency cited Liu Qingfeng, chairman of iFlytek Co, as saying at the CES global technology event in Las Vegas, US.
Liu expects AI to replace many human jobs over the next decade but does not expect robots to become self-aware during the next 30 years.
iFlytek, China's leading AI-based voice technology firms, is participating in the CES show for the first time this year. "Firstly, I think AI technology is truly coming to applications now. Secondly, there are hundreds of companies globally looking to cooperate with iFlytek and the opportunity for the company's industrial ecology to expand overseas is also ripe," Liu said, explaining the reasons for his firm's participation.
The company showcased its voice-to-text translation platform at its stand using a television screen suitable for large-scale conferences. The technology is capable of displaying translations between English and Chinese simultaneously as a presenter speaks. The English content was accurate, while the Chinese translation demonstrated relative fluency, Xinhua reported.
iFlytek recently worked with US chip maker Nvidia Corp. on AI technologies. "IFlytek provides algorithms, while NVIDIA offers computing power," said Liu, adding that global cooperation is important for the development of AI.
"Data, algorithms, and industry experts interacting with machines are equally important, and no single company can achieve technology monopolies. Only through the development of core technology, can companies occupy a position in the industrial chain," Liu added.
CES, which this year runs from Jan. 9 to 12, "is the world's gathering place for all who thrive on the business of consumer technologies," according to its website. "It has served as the proving ground for innovators and breakthrough technologies for 50 years -- the global stage where next-generation innovations are introduced to the marketplace."
