A report issued by IDC International Data, a global market research firm, said that the value of the Chinese artificial intelligence market will reach 26.44 billion US dollars in 2026.

The report added that the spending in the Chinese artificial intelligence market is expected to reach 14.75 billion US dollars in 2023, accounting for about 10 percent of the global total.

The report also predicted that the annual growth rate of the Chinese artificial intelligence market will exceed 20 percent in the period between 2021-2026.

Optimistic about the long-term expansion of the Chinese AI market, the mentioned company stressed the importance of innovation and upgrading AI technology to better promote application scenarios.

She added that companies' enthusiasm for digitization will help stimulate diversified demands in the Chinese market.