China has set out an ambitious plan to leap frog ahead of the United States to be the global leader in the field of artificial intelligence (AI) by 2030. The proposal takes a three-step approach: keep pace with leading AI technology and applications in general by 2020, make major breakthroughs by 2025, and be the world leader in the field five years thereafter. The ambitious plan will be an economic bonanza for the country’s technology firms, as the area defined as core AI is expected to be valued at CNY150 billion by 2020, while AI-related fields are valued at CNY1 trillion, according to the government’s forecast. By 2025, those values will exceed CNY400 billion and CNY5 trillion respectively. Government finance will lead the way in AI research, including the development of supercomputers, and high performance semiconductor chips, software, and the hiring of key talent to lead the field. Up to 26% of China’s gross domestic products (GDP) could be generated by AI-related industries by 2030, making the country the world’s biggest winner from investing in the field, according to a report last month by PricewaterhouseCoopers (PwC). AI technologies are expected to bolster global GDP by 14% by 2030, the equivalent of USD15.7 trillion, by improving labor productivity and spurring consumption, said the report.