China's artificial intelligence market grows rapidly these years, worth $2.6 billion in 2016. The industry expert warned that capital and talent are rushing into the market which is prone to producing bubbles. And this is due to the expectation of human life changes and potential reward, Hong Kong media reported.
It is estimated that China's AI market will increase to $9.1 billion by 2020 from $2.6 billion last year with a 50 percent compound annual growth rate.
CEO of Sogou Wang Xiaochuan noted, "China's AI industry is in the midst of a bubble. Some industry workers are paid a ridiculously high salary; the investors' return estimates on investment are too high, which makes the valuation of Chinese Artificial Intelligence enterprises above the US counterparts."