China’s AI Startups Raise Millions, but 2020 Looks to Be Lean Year

Caixin Global | Apr 8, 2020 at 7:37 PM
  • The coronavirus pandemic didn’t seem to have hurt Chinese AI firms’ ability to raise money yet, but as uncertainty drags on and corporations keep a tighter grip on their purse strings, many of these upstarts might find 2020 a rough year.
  • Chinese spending on information technology is expected to grow only 2.7% this year, while worldwide spending will be down 2.7%.
  • The Chinese government has cut its spending on surveillance, a significant source of demand for AI, amid the coronavirus epidemic.