If people hear race for artificial intelligence (AI) dominance, they usually think that competition is between China and the United States. After all, China and the United States have the most well-funded and the largest Artificial Intelligence companies on the planet. The pace of the company, growth, adoption, and funding doesn’t seem to be slowing soon.
Nevertheless, you will examine, and you will see that many other countries have a stake in the artificial intelligence race. Indeed, some countries have artificial intelligence funding, intellectual property, technologies, and efforts that make them a serious contender in the jostling for AI dominance. The report came from analyst firm Cognilytica, United Kingdom, United States, Israel, and France. The report said that when it comes to Artificial Intelligence, those countries are equally strong with Canada, Japan, South Korea, and Germany. All those countries have equally strategic AI strength.
Artificial Intelligence startups are raising more money than ever before. For example, in 2017 alone, AI-focused companies raised $12 Billion. Over the previous year, it’s more than doubling venture funding. Most of this funding concentrates on Chinese and United States companies. Nevertheless, the source of the funds is much more international. For example, Softbank, based in Japan, has amassed a $100 billion in investment funds. The foreign investors include the sovereign investment fund of Saudi Arabia and other global sources of capital. Now China has the most valuable artificial intelligence startup, while United States companies have put up significant investment rounds with the power of Silicon Valley’s VC funds. China’s most valuable artificial intelligence startup, SenseTime, raised over $1.2 billion and a rumored additional one billion dollar build on the way.
China and Face Recognition
The artificial intelligence is a strategic technology by many governments. It is what makes the AI technology sector different from previous significant waves of investment. China released a three-step program in 2017. The goal of the program is to become a world leader in artificial intelligence by 2030. The government wants to make the artificial intelligence industry worth 150 billion dollars. It is pushing for the greater use of artificial intelligence in several areas such as smart cities and the military. Including a planned $21 billion artificial intelligence-focused technology research parks, the Chinese government has made big bets.
The Beijing AI principles were released in 2019. It was released by the multi-stakeholder coalition, which includes Peking University, Institute of Automation and Institute of Computing Technology in the Chinese Academy of Sciences, the BAAI (Beijing Academy of Artificial Intelligence), Tsinghua University, and artificial intelligence industrial league involving firms like Alibaba, Tencent, and Baidu.
Moreover, the ecosystem of Chinese technology has developed so much it is enough to become a powerhouse in its own right. China has many multi-billion-dollar tech giants, including Huawei, Tencent, Baidu, and Alibaba technologies. They are each heavily investing in artificial intelligence. The Chinese government and Chinese companies are working closely together. Laws in China are the most relaxed towards customer privacy. They are also welcoming the use of facial recognition on their citizens. They use facial recognition on a daily bases. Because of that, they are harshly criticized.