Summary
Foundation models (FMs) underpin the transformative generative AI (genAI) solutions sweeping the globe. As general-purpose FMs lack domain-specific knowledge that is critical for industry adoption, industry FMs are stepping into the breach to deliver strategic value such as deep domain knowledge, ease of customization, and cost-effectiveness. China is leading the development and adoption of industry FMs. This report analyzes the emerging use cases in major verticals in China and the industry FM ecosystem enabling these transformations.
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