Since 2018, the AI talent pool in Shanghai has soared from 100,000 to 180,000, and the industrial scale of the city's AI industry has doubled, showing that the development of a world-class industrial cluster is underway, said Wu Jincheng, director of the Shanghai Municipal Commission of Economy and Informatization.

"The Chinese government has attached great importance to the development of the AI industry. In the past few years, China's AI sector has been growing at an accelerated speed and a complete AI industrial system has been created. The core AI industrial scale has exceeded 400 billion yuan, and more than 3,000 enterprises are engaged in the industry," Jin of the MIIT said.

AI is increasingly integrated into the whole development process, and is becoming an important driving force for promoting the rapid development of technology, industrial optimization and upgrade, as well as productivity enhancement, Jin added.

Jin said AI is an important part of digital economy development. The MIIT will grasp the characteristics of AI development, stick to opening-up and cooperation as well as coordinate development and safety to promote the deep integration of AI and the real economy in various directions and realize high-quality development.

Regardless of how quickly AI develops, more efforts are needed to promote AI's commercial applications, said Robin Li, CEO of Baidu Inc.

Without good business prospects, a startup company will encounter standstill growth or even a loss, and a promising business outlook is equally important for big-name enterprises, Li said.