Foundation models are expected to lead the new industrial revolution and Beijing is the best place for AI foundation models development in China, experts said at the Global Digital Economy Conference 2023, as reported by Xinhua on Monday.

Only by entering thousands of households and empowering hundreds of industries can foundation models truly promote the revolution brought about by artificial intelligence, said Zhou Hongyi, founder of 360 Security Group.

Foundation models refer to powerful machine learning algorithms at the forefront of AI development, transforming many aspects of people's lives, according to Stanford University Human-Centered Artificial Intelligence.

Beijing has the best basis for AI foundation models innovation, the most concentrated talent team, the strongest research and development capability, and the most active product iteration in China, said Jiang Guangzhi, deputy director of the Beijing Bureau of Economy and Information Technology.

Among over 80 AI foundation models public released, Beijing accounts over half of them, Jiang said.

Foundation models will be applied in every digital system including mobile phones and automobiles in the future. Industrial digitalization is a national strategy, and China's development model should also seize industrial opportunities and empower hundreds of industries to lead the industrial revolution, Zhou said.

In terms of how to utilize foundation models, Zhou believes office scenarios such as information analysis and decision making, enterprise knowledge search and management, office collaboration and intelligent customer service are the most suitable entry points.

The development of multimodal models such as images, text, speech, and even haptics maybe a stronger technological base form for foundation models in the future, according to Zhu Jun, professor at the Department of Computer Science and Technology in Tsinghua University.