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Apple is betting big on this emerging market. Three weeks ago, its mobile payment service Apple Pay launched its largest-scale marketing campaign since entering China, offering perks including up to 50 percent discounts on purchases for a week.

Apple CEO Tim Cook poses with the all-new iPhone 12 Pro at Apple Park in Cupertino, California, on Tuesday. [Photo/Agencies]

As Africa seeks a suitable industrialization model, the continent's latecomer status will allow it to choose from and modify other nations' successful growth models, according to Helen Hai, CEO of the Made in Africa Initiative, which advises African companies and governments on commercial industrialization.

Approved by the National Development and Reform Commission in February, the national engineering lab was launched by Shanghai Data Exchange Corp in March, and its other backers include China Internet Network Information Center, China United Network Communications Group Co, Fudan University, the China Academy of Information and Communications Technology, and Inspur Group Co Ltd.

As EY found out, Chinese respondents lead their global peers in the adoption of AI technology, with 10 percent already using it compared with 6 percent globally. A majority of 77 percent of Chinese respondents said they will introduce AI into their operations within the next two years, while the number is 66 percent worldwide. Almost 99 percent of the surveyed Chinese companies said they will have adopted AI by 2023.