The Global Artificial Intelligence & Robotics Summit has opened in the southern Chinese city of Shenzhen. Our reporter Ge Yunfei went to China’s southern technology center to find out more about the potential of the budding industry.

The success of Alpha Go in defeating the human mind has aroused the world of artificial intelligence.

But at the Global Artificial Intelligence & Robotics Summit in Shenzhen, it's limitations have been projected.

Michael Wooldrige -- who is leading a cooperation initiative between Oxford University and Google on artificial intelligence -- said although Alpha Go is unique in its own right, it's not THAT smart.

Apart from playing chess, some cutting edge AI technology has already been industrialized.

This is a smart facial recognition security system. Just one simple scan, all your facial features are fed into the system. Then the system can automatically lock you down as long as you appear under CCTV cameras in public places.

“We use AI technologies like deep learning and neurological networks to develop our product. Police departments in over 40 cities in China have used this system. Now we help them arrest one suspect every day in a single city,” said Xie Yinan, brand manager of Megvii Technology.

However, many are fearing that AI -- like the Sky Eye system -- could become a threat to humans, but industry insiders believe that day is far into the future.

Though the journey might be difficult, investors are willing to put their weight behing the future of artificial intelligence..

“The Chinese economy has been suffering from rising labor costs and an ageing population. The rise of AI will fill in the blank of the labor market..” said Li Wei, founder of Soonghe Capital.

Li said though plenty of investment is pouring into the AI industry, it's still not overheated. In fact, just like the development of the internet and virtual reality, it's crying out for even more capital.