The widespread application of AI will determine the new position of a country in the global economy

Professor Wu Xiaoqiu, President of the National Institute of Finance, pointed out that the widespread application of AI will determine a country's new position in the global economy. Seizing the initiative in AI development means grasping the initiative for the next round of economic growth. AI is not only a tool for productivity, but also a core force driving the upgrading of China's real economy, the transformation of its financial system, and the deepening of capital market functions. He believes that by 2030, China's per capita GDP is expected to exceed US$20,000, the consumption rate will rebound, the securitization rate will exceed 200%, and AI penetration will rank among the top globally.