Visitors gather at the booth of iFlytek during the Smart China Expo in Chongqing on Aug 27. [Photo provided to China Daily]

iFlytek, one of China’s rapidly rising artificial intelligence (AI) and speech technology companies, is expected to achieve an annual output value of two billion yuan from its Tianjin projects this year.

The hi-tech player set up its branch in Tianjin Port Free Trade Zone nine years ago. Since then it has served and empowered 16,000 technology companies and artificial intelligence developers in the city, growing with 'visible speed' each year, according to a local official.

Its northern valley project has developed into a hub for intelligent industry. Its AI industry incubation center has introduced more than 190 enterprises to the city, leading to it making Tianjin's first annual tax payment of over 100 million yuan.

Another AI industrial base in the project has also served about 17,000 AI developers in Tianjin, and attracted 168 registered enterprises to settle in the area.

At present, it has seven direct investment companies in Tianjin, covering fields such as R&D, intelligent hardware, intelligent services, innovation and entrepreneurship, investment, and financial leasing.

By 2022, the company envisions a gathering of 1,000 industry chain enterprises and tens of billions in revenue, and it will continue to help the development of Tianjin's artificial intelligence industry.