Chinese firms are leading the way in developing AI technology that intersects with biometric identification, reports Chinese media.The China Daily reported that speech recognition for biometric security accounts for about 60 percent of venture capital investments in the Chinese AI industry, while visual recognition has only 12.5 percent of this.Industry research company International Data Corp said that AI application will have a huge impact on traditional industries as AI technologies are now being applied in agriculture, business, healthcare, industry, finance, education and security.Currently, more advanced AI technology is being used in healthcare, finance, retail and smart cities. Innovation in these sectors has been made possible by technology.According to IDC, the adoption and use of AI and cognitive systems in various industries is expected to increase worldwide revenues from $8 billion in 2016 to more than $47 billion in 2020.
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