Being as one of the world's buzzing sector that reserves innovation potential, artificial intelligence, or AI, requires collaboration around the world, said one executive of the nation's leading company.

"What we want to achieve is to seek impetus through innovation and vitality through reform, to increase medium- and long-term growth potential of the world economy," said President Xi on Saturday in the keynote speech at the opening ceremony of the Business 20 Summit (B20) in Hangzhou, Zhejiang province.

Liu Qingfeng, chairman of iFLYTEK Co, one of the leading domestic voice recognition R&D companies, sat down with China Daily and share his views on B20's significance to the development of the world's artificial intelligence (AI) industry.

"I think AI is one of the greatest dreams of human beings, and will become a core engine to drive the industrial revolution," said Liu.

According to him, during AI's world-changing process, the original technology innovation should rely on the cooperations between industry pioneers around the globe, and he calls the industry eco-system should be established and distributed globally.

"The best advantage of AI technology is to maximally meet every individual's demand. For example, thanks to AI, the future smartphone that embedded in voice recognition function will be reshaped to glasses, watches, buttons or even brooches and necklaces, which are bound up with users' aesthetic taste and dressing habits," Liu said. "The personalized demands will encourage entrepreneurs and startups to tap into the market rather than eliminated by overladen users or unbearable investment."

According to Liu, currently about 160,000 developers are utilizing the firm's voice cloud platform to implement their applications and the figure has seen rocket growth, up 100 percent increase compare to last year.

"The change illustrates the potential of AI in China and what we can do to help fuel its global development."

(Ma Si contributed to the story)