(Yicai Global) Nov. 20 -- The Wuhan East Lake High-Tech Development Zone, a photoelectron industrial base in central China's Hubei province, will set a special fund of no less than CNY200 million (USD30.1 million) per year for the development of artificial intelligence (AI) industry in the next three years. It aims to advance the development of AI enterprises, talents and industry in the region, state-run Xinhua News Agency reported.

By 2020, the AI core industry in the region could generate an output worth USD1.5 billion, promote related industries to create an additional USD7.5 billion and foster some Chinese top corporate clusters, estimates its plan for the project.

Under the plan, the East Lake High-Tech Development Zone will offer policy subsidies of up to USD3 million for enterprises, industrial alliances and universities that engage in AI research in the area.

At present, there are more than 100 enterprises committed to the research and application of AI core technology in the region. A pilot project to open and share public data resources will also be carried out during the promotion of development of AI industry to facilitate transportation, healthcare, education and other relevant public services that contribute to people's daily lives, said the director of the East Lake High-Tech Development Zone.