Shenzhen unveiled a suite of new financial incentives yesterday with the goal of establishing itself as a vanguard city of artificial intelligence (AI). The measures, announced by the Shenzhen Municipal Industry and Information Technology Bureau, are effective immediately and will last for two years. Under these initiatives, up to 500 million yuan (US$68.6 million) per year will be allocated to bolster R&D and training of AI models. Furthermore, a maximum of 100 million yuan will be set aside each year to finance the use of AI models. In addition, an annual investment of up to 100 million yuan will be directed towards applying AI in pivotal sectors, including advanced manufacturing, modern services, and scientific research