We have started to see the impact of Ai on the global order. A study on its global implications estimates that by 2030, a total of $15.7 trillion will be added to the global economy.
Manufacturing, finance, energy management, urban transportation, and labour markets are only a few industries that will be transformed by Ai and machine learning. It is incumbent upon governments to seize this opportunity for growth and prepare for the Ai disruption.
The US remains one of the leading investors in Artificial intelligence. The National Science Foundation (NSF) invests over $100 million each year in Ai research. DARPA announced a $2 billion investment in an initiative called AI Next to research advancing contextual and adaptive reasoning.
However, while the US dominates in Ai research, China will lead its industrialisation. China has the expertise in manufacturing, energy, electronics, infrastructure, and the support of the government.
In an interview for Wired, Kai-Fu Lee, former president of Google China and author of “AI superpowers”, talks about the connection between China’s governmental policies and market forces. China has a national strategy for developing projects in AI to drive economic growth. The Chinese market is interested to develop the latest AI breakthroughs in autonomous vehicles, medical robotics, and financial technologies. The country has advanced from developing technologies incrementally to reaching a stage of maturity that is ready to develop disruptive technologies. They have the talent, the expertise and the capital to lead the world of AI by 2030.
America is leading in technology and innovation with tech giants like Amazon, Apple, Google, Facebook, and Microsoft but is lacking resources and national leadership. China’s planning model, on the other hand, is proving to be a winning strategy to weaken the Western domination. In order to maintain its leadership position in technology and innovation, Western countries need better leadership and a new vision for a global tech society.