Opening: At present, the domestic economy is shifting from a model driven by traditional kinetic energy to a new kinetic energy driven model. New drivers, such as the digital economy, artificial intelligence and high-end manufacturing, are the areas with the greatest growth potential in the future. Recently, the industrial catalysts in these new kinetic energy fields have been increasing, and they are expected to be gradually reflected in the investment opportunities of the first generation. We have selected the top 10 industrial trends that will undergo major changes in industrial development in 2024 and are expected to become the main investment line for investors' reference
Fourth, data elements: a new engine driving the high-quality development of China's economy.
Data elements are the strategic resources of national infrastructure, and the market size has grown quite rapidly recently. With the continuous promotion of the country's top-level design and the increasing emphasis on the digital economy in the 14th Five-Year Plan, the data element market has begun to build a system rapidly, and the market scale has also expanded rapidly. It is estimated that by 2023, the market size will reach about 130 billion yuan, and it may exceed 200 billion yuan by 2025. From the perspective of subdivisions, the market size distribution of each link is relatively balanced, and the market size of data production, circulation, application and ecological security links has exceeded 5 billion yuan.
The data element is the new driving force for the rapid development of our country's economy, and a series of policies have accelerated the progress of all walks of life. Affected by multiple factors such as geopolitics, the safety of the industrial chain of various industries is now more and more valued by everyone. The security of data is the foundation for building our first class, and it is also a key part of the growth of production factors such as labor, technology, and capital. Therefore, in the past two years, the state and local governments have continuously issued relevant policies to support the data element industry, tap the potential within the industry, and accelerate the construction of data infrastructure. In particular, the "20 Data Measures" policy and the measures to incorporate data elements into the "14th Five-Year Plan" have become an important support for the all-round and systematic development of the industry. In October 2023, the National Data Bureau was officially established, undertaking a number of important tasks such as coordinating and promoting the construction of China's data element infrastructure, the digital economy construction plan, and the national data strategy. With the great attention of our country, the data element industry is expected to continue to be promoted by policies, so as to accelerate its development.
In addition to the country's strategic needs, the rapid development of artificial intelligence has also given rise to an explosion of demand in the data element industry. Do you know? In 2023, the data demand of the latest AI large model GPT-4 will be more than 10 times that of the previous generation! In order to promote the high-quality development of China's artificial intelligence field, we must establish a complete data supply-side ecological industrial chain, so as to enrich the data set and reduce the cost of data acquisition. In addition, starting from 2024, we also plan to launch the "Data Element X" action goal, and in the next three years, we will realize the integrated development of data and 12 industries such as industrial manufacturing, technological innovation, financial services, and medical health. This will not only bring opportunities for cross-industry innovation to the data element industry, but also promote collaborative growth.
In the future, artificial intelligence will develop rapidly, which will promote the supply-side reform of data elements. As the basis for AI large model training, the training data provided in the data element domain needs to meet strict requirements in terms of quantity and quality. At present, China's artificial intelligence industry lacks high-quality datasets, mainly because the development of the data industry chain is still in its infancy, and the technical aspects also need to improve data quality to supplement enough nutrients for the development of large models. With the systematic construction of the whole industrial chain in various fields such as collection, storage, circulation, and security, the key and difficult technologies in various subdivisions may gradually achieve breakthroughs and innovations, and China will also complete the development and construction of the basic data field at this stage of development, and move forward at full speed towards "digital China". At the same time, data elements are intertwined with various new economic drivers, data value and industry development are intertwined, and data engines are being injected with strong power. In terms of investment, the suggestions for the data element industry chain are to focus on: 1) data supply: data providers, data service providers; 2) Data circulation: data exchange shareholding enterprises; 3) Data requirements: digital transformation service providers and data application parties.