Powerhouse China likely to go past US in AI tech

December 14, 2018 | Investopaper

China’s huge population and massive database is likely to provide it competitive advantage over US to go past artificial intelligence (AI) tech.

AI has the capacity to change the fortunes of many companies. Self driving cars, robots at work, enhanced security through facial recognition are some transformation in Business Company”

The importance of AI has been highlighted by the statement that global GDP is all set to increase by 14 percent because of AI, according to PwC.

Kai Fu Lee, one of the renowned authors and venture capitalist in China stated the importance of data and asserted that China with huge database is already ahead of US in terms of value creation, market caps, numbers of users and revenue generated by AI. He also acknowledged that China will not lead US for decades in terms of AI research.

Many ambitious plans has been announced by Chinese central government to enhance AI capabilities which was well supported by Chinese venture capitalists who poured around 48% of the all AI venture funding globally.

 

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