To bolster China’s artificial intelligence sector, renowned AI pioneer and founder of Beijing-based startup — 01.AI — Kai-Fu Lee is launching the company’s first consumer AI application. What Happened: The new app, named Wanzhi, is designed to enhance productivity for users in the Chinese market. It can assist with tasks such as creating spreadsheets, documents, and slide presentations, interpreting financial reports, and providing summaries of lengthy texts, reported Bloomberg. In an interview with the publication, Lee, 62, highlighted the necessity for China to develop its version of ChatGPT…