Until two years ago, most political and business leaders across the globe were almost unaware of Artificial Intelligence. Today, the technology promises to revolutionize business processes. Yet, many continue to remain ignorant about it.
A study finds that China is making rapid progress in AI, beating the U.S. Further, the study shows that 84% Chinese business leaders believe in AI, while only 38% representatives from the U.S. agree. Also, 25% business executives from China are using AI in a wide range of applications, while only 5% from the U.S. are doing so.
China Vows to Lead the Fourth Industrial Revolution
History has it that the country with the latest technology dominates international relations. For instance, steam engines were the reason for Great Britain’s emergence during the first industrial revolution. The U.S. became the global leader during the second and third industrial revolutions, thanks to electricity, internal combustion engines, and the internet.
With rapid technological advancements, global leaders believe that the fourth industrial revolution is around the corner. Breakthroughs in artificial intelligence, bioengineering, robotics, advanced manufacturing, and quantum computing will drive the fourth industrial revolution.
Chinese President Xi Jinping is investing financial resources in developing artificial intelligence products. Furthermore, several startups have come up in China with venture capitalists pumping huge amounts into artificial intelligence. However, many political leaders express concerns over lack of regulations governing privacy of users. To counter that, Chinese leader suggest that every country can frame its own regulations to best utilize the technology.