SHANGHAI, July 6 (Xinhua) — A record number of companies are attending the 2023 World Artificial Intelligence Conference (WAIC), which opened in Shanghai on Thursday amid the latest AI industry frenzy.

More than 400 companies are this year participating in the event, which has a total exhibition area of 50,000 square meters at its main venue, organizers said. Both figures are at their highest levels since 2018, when the annual event was inaugurated.

Since ChatGPT took the world by storm late last year, China's AI industry has been in a frenzy, with tech giants and startups rushing to launch similar generative AI products in recent months.

Titled "Intelligent Connectivity, Generating Future," the event was expected to gather over 1,400 distinguished guests, including top scientists, entrepreneurs, government officials and delegates from international organizations.

The conference's major exhibitions focus on sectors such as core technology, intelligent terminals, application empowerment and cutting-edge technology.

Enterprises are showcasing a variety of products, including large language models, chips, robots and autonomous driving vehicles, and have launched or exhibited for the first time more than 30 new products at the WAIC.

The event will host several plenary sessions and dozens of focused and industry forums. It has developed into an influential platform for AI cooperation and exchange, as well as a catalyst for Shanghai's AI industry.

China's AI industry is in the midst of a development boom, with the scale of the core industry at 500 billion yuan (about 69.4 billion U.S. dollars) and the number of AI enterprises exceeding 4,300, Vice Minister of Industry and Information Technology Xu Xiaolan said at the event's opening ceremony.

China has been accelerating its construction of AI-related infrastructure, with its total computing power ranking second globally and its number of 5G stations exceeding 2.8 million, Xu said.

More than 2,500 digital and intelligent workshops and factories have been built across the country, which has helped shorten the research and development cycle by 20.7 percent and improve production efficiency by 34.8 percent, the official noted.

The 2023 WAIC, which will close on Saturday, is being hosted by the Shanghai municipal government and seven central government agencies, including the National Development and Reform Commission and the Ministry of Industry and Information Technology.

(Source: Xinhua)