(Yicai Global) Aug. 18 -- Lingang New Area, part of Shanghai’s free trade zone, will raise the scale of the zone’s artificial intelligence sector to CNY50 billion (USD7.4 billion) within the next three years, Shanghai Securities News reported, citing an action plan released by the city today.

Lingang New Area will form an AI innovation center near its main attraction Dishui Lake and will dedicate 3 million cubic meters of space to the development of the AI industry, it said. The zone will nurture 500 companies and accumulate as many as 30,000 AI specialists. No mention was made of the current scale of the AI sector in the zone.

The most essential elements of the AI era are software and chips, said Lingang government official Wu Xiaohua. Lingang will make great efforts in software, especially auto, industrial and fintech software.

It will also place a strong emphasis on intelligent connected vehicles which are the largest AI application scenario, Wu said. Lingang will promote businesses in automotive electronic terminals, smart wearable devices, service robots, interactive terminals and drones.

Internet giant Baidu stationed its Apollo autonomous driving project in Lingang on Aug. 9.

Lingang has the AI technology foundations and application scenarios needed to speed up breakthroughs in unmanned driving and the construction of vehicle-road interactive infrastructure, Baidu Chairman Robin Li said at the press conference marking the release of the action plan. This is in line with Beijing-based Baidu’s development plans, he added.

Editor: Kim Taylor