The 2018 California-China Business Summit threw up an unexpected mediator who could soothe the trade tensions between the United States and China - Artificial Intelligence (AI). Experts participating in the summit believe that Ai could be the bridge to usher in better relations between the two largest economies of the world.
"There are multiple bridges that are connecting and strengthening the partnership between China and U.S. of the bilateral agreement, and AI is one of them," Sid Voorakkara, deputy director for external affairs, California governor's office of business and economic development, said.
The economic fortunes of the two world powers could be shaped by the fight for the dominance in the AI space even as there is severe ongoing trade tensions and disputes between the two countries that are grabbing the headlines.
The bulk of AI development in the world is taking place in the U.S. which is home to the largest tech companies in the world such as Google, Microsoft, IBM and Apple.
Both academia and the private industry take leading roles in AI industry and research in the United States. Military and paramilitary departments like DARPA and IARPA fund individual projects on AI.
In its effort to take a leading global role in the AI sector by 2030, China has been silently but doggedly creating an environment which is feeding and fueling that ambition of the country even though at present, the AI developments taking place in the U.S. has overshadowed all other developments and research on AI
"The two markets have distinctive advantages, in terms of AI," Winston Ma, managing partner and chief investment officer of China Silkroad Investment Capital (CSIC), said.
"Right now, what you see is, the U.S. is very strong on original innovation, and China side is much stronger in application and consumer experience. Both sides have accumulated very good base of users, data and infrastructure. From China side you can see the advantage on the data side because of the massive user group," said the author of "China's Mobile Economy: Opportunities in the Largest and Fastest Information Consumption Boom."
China would be globally positioned to be the leader in AI with respect to both research and application within the next 12 years in a State Council document that was issued last year. According to the document, the AI industry would help to enhance the life of people by 2020 and would be a new major economic growth engine. The plan further pits China at the center of the global AI research, development and application by 2030 and transform the country into the key point globally for AI innovation.
"Over the past decade, China has become a leading global force in several areas of the digital economy," said "China's Digital Economy: a Leading Global Force," published by McKinsey & Co.'s think tank.
"In the future, the entire Chinese economy will be a digital economy," said Ma. "For the next billion users, those emerging market is more like China." Enditem
(Source:www.xinhuanet.com)
"There are multiple bridges that are connecting and strengthening the partnership between China and U.S. of the bilateral agreement, and AI is one of them," Sid Voorakkara, deputy director for external affairs, California governor's office of business and economic development, said.
The economic fortunes of the two world powers could be shaped by the fight for the dominance in the AI space even as there is severe ongoing trade tensions and disputes between the two countries that are grabbing the headlines.
The bulk of AI development in the world is taking place in the U.S. which is home to the largest tech companies in the world such as Google, Microsoft, IBM and Apple.
Both academia and the private industry take leading roles in AI industry and research in the United States. Military and paramilitary departments like DARPA and IARPA fund individual projects on AI.
In its effort to take a leading global role in the AI sector by 2030, China has been silently but doggedly creating an environment which is feeding and fueling that ambition of the country even though at present, the AI developments taking place in the U.S. has overshadowed all other developments and research on AI
"The two markets have distinctive advantages, in terms of AI," Winston Ma, managing partner and chief investment officer of China Silkroad Investment Capital (CSIC), said.
"Right now, what you see is, the U.S. is very strong on original innovation, and China side is much stronger in application and consumer experience. Both sides have accumulated very good base of users, data and infrastructure. From China side you can see the advantage on the data side because of the massive user group," said the author of "China's Mobile Economy: Opportunities in the Largest and Fastest Information Consumption Boom."
China would be globally positioned to be the leader in AI with respect to both research and application within the next 12 years in a State Council document that was issued last year. According to the document, the AI industry would help to enhance the life of people by 2020 and would be a new major economic growth engine. The plan further pits China at the center of the global AI research, development and application by 2030 and transform the country into the key point globally for AI innovation.
"Over the past decade, China has become a leading global force in several areas of the digital economy," said "China's Digital Economy: a Leading Global Force," published by McKinsey & Co.'s think tank.
"In the future, the entire Chinese economy will be a digital economy," said Ma. "For the next billion users, those emerging market is more like China." Enditem
(Source:www.xinhuanet.com)
