By Li Panpan

(JW Insights) Feb 27 -- Shanghai International Algorithm Innovation Park debuted at the Global AI Developer Conference (GAIDC) held in Shanghai on February 25, further underlining the city’s goal of becoming a key center of China’s AI industry.

The Park will focus on making breakthroughs in fundamental theories and underlying algorithms in AI and promote the application of best algorithm technologies in integrated circuits, bio-medicine, and intelligent manufacturing.

The Park is introduced by Peking University and local authorities in Shanghai. It plans to make Shanghai an international benchmark city for original algorithm innovation and application.

AI has become a powerful force to boost economic transformation and upgrades. Chinese AI companies have a core industrial value of over RMB500 billion ($72.5 billion), said Ren Aiguang, deputy director of the Science and Technology Department of the Ministry of Industry and Information Technology, in his keynote speech at the conference.

Shanghai Smart Robot Manufacturing Innovation Center and SenseCore AI Cloud were also launched at GAIDC, the annual two-day event held over the weekend in the Lingang Special Area, part of Shanghai’s free-trade zone.