![]() ![]() (See sidebar “About the research.”) In these sectors, we see clusters of use cases where AI can create upwards of $600 billion in economic value annually. In the coming decade, our research indicates that there is tremendous opportunity for AI growth in new sectors in China, including some where innovation and R&D spending have traditionally lagged global counterparts: automotive, transportation, and logistics manufacturing enterprise software and healthcare and life sciences. Applications in these sectors that either are in the early-exploration stage or have mature industry adoption, such as manufacturing-operations optimization, were not the focus for the purpose of the study. In emerging sectors with the highest value-creation potential, we focused on the domains where AI applications are currently in market-entry stages and could have a disproportionate impact by 2030. In performing our analysis, we looked outside of commercial sectors, such as finance and retail, where there are already mature AI use cases and clear adoption. This research is based on field interviews with more than 50 experts within McKinsey and across industries, along with extensive analysis of McKinsey market assessments in Europe, the United States, Asia, and China specifically between October and November 2021. In fact, most of the AI applications that have been widely adopted in China to date have been in consumer-facing industries, propelled by the world’s largest internet consumer base and the ability to engage with consumers in new ways to increase customer loyalty, revenue, and market valuations. In tech, for example, leaders Alibaba and ByteDance, both household names in China, have become known for their highly personalized AI-driven consumer apps. 3 iResearch, iResearch serial market research on China’s AI industry III, December 2020. Today, AI adoption is high in China in finance, retail, and high tech, which together account for more than one-third of the country’s AI market (see sidebar “Five types of AI companies in China”).
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