The People’s Republic of China is accelerating its efforts and expanding its investments in the brave new world of artificial intelligence (AI). On the other hand, its main competitor and former industry leader the United States of America is slowing down and falling back.
According to the New York Times, China is acting in the recognition that AI will be the key industry of the future, in the same way fuel-based sectors and internet-driven economies are to the past and the present. The Chinese government is funding A.I. projects even in their lesser-known cities and regions outside Shanghai and Beijing.
For example, Xiangtan in the Hunan province will allocate $2 billion to develop robotics and related artificial intelligence over the next few years. Local governments in Suzhou and Shenzhen are subsidizing start-ups and companies that want to specialize in artificial intelligence in the amounts ranging from $800,000 to $1 million per project. Chinese AI companies are also courting top talent from the U.S and Europe with salaries, research grants, and funding that are three times larger than any available in the market.
In contrast, the current U.S. administration under President Donald Trump has announced that it will reduce budgets in scientific research, including AI, by $175 million. Investors and industry analysts have predicted that in the light of reduced funding, private companies, especially the tech giants in Silicon Valley, would have to take the slack.
Again, one can contrast this with the recent partnership established by the Chinese government with Baidu, which has been described as its own version of Google. Academics who had worked before with the Chinese military on their robotics will compose a huge part of their talent pool.
What is making observers a bit of alarm is how the Chinese government will use their advanced AI. That technology that can stop a terrorist attack can also be utilized to arrest a labor strike in progress. The more pessimistic analysts have described China’s impending leadership in AI as a cross between science-fiction and George Orwell’s 1984.
Enjoy travel more by avoiding screen addiction
Protect your productivity from time-wasters in 7 ways
Visa takes blame for duplicate transactions affecting Coinbase users
Discover what the future holds for blockchain technology in the next #IGCryptoChat this week
4 alternative cryptocurrencies to Bitcoin
Cannabis acceptance grows as hemp industry leader PotNetwork Holding breaks CBD sales records
This fast-growing organic products stock already has space on Whole Foods’ shelves
Why Vapor Group Inc. might be the breakout penny stock you’ve been looking for in 2018
The CBD industry is enjoying a boost from the lifestyle sector
When you should consult your financial advisor
Promoting women’s football in Malta by UEFA projects
Euro NCAP marks its 20th anniversary with two crash tests
European Parliament’s International Trade Committee backs CETA
The American Heart Association has released four new PSAs
PwC presents 20th global CEO survey results in Switzerland
Crypto1 day ago
Could Global Blockchain Technologies change the way we invest in cryptocurrency?
Featured3 days ago
CBD stocks emerge strong in the growing cannabis industry, marijuana legalization
Crypto2 days ago
One of America’s oldest gold mines enters the crypto-century
Featured2 days ago
This hemp market player’s growth is about to go into overdrive
Commodities5 days ago
Cellulosic ethanol production needs to step up to meet expectations
Business4 days ago
Disney announces price hikes for Disneyland tickets in the US
Business3 days ago
Delving deeper into the Internet of Things
Featured2 days ago
The gig economy has matured — when will the business world catch up?