Will China rule the Global Race for AI Innovation....???

The big bets placed on machine learning by Kai-fu Lee the former Apple, Microsoft and Google executive turned as investor, a key figure in the Chinese technology industry leading the way for China With a portfolio of 300 companies. Lee is among the leading investors in Chinese AI startups through his venture fund Sinovation Ventures, a $1.8bn dual currency fund, which also invests in the US. “The State Council paper laid out China’s desire to be a hub of AI innovation by 2030, and these papers have teeth in terms of very strong local execution,” says Kai-Fu Lee.

This isn’t a divination by a researcher or academic, it’s government policy from Beijing. A State Council document, issued in July last year, resolved to position China as the world’s pre-eminent practitioner of artificial intelligence (AI) in both research and application within the next 12 years. Governments across the world are rushing to support innovation in AI, but none has published as coherent a plan as China and – more importantly – has the ability to get things done: the Chinese government can implement policy in ways that are impossible in western democracies.

Intent, however, is one thing: to paraphrase the boxer Mike Tyson, everyone has a plan until they get punched in the mouth. The Chinese not only have a strategy, they have a track record of delivering on large-scale, ambitious projects. Its One Belt, One Road infrastructure project is reshaping large chunks of the world and its policy for ‘mass entrepreneurship and innovation’ has set aside $320 billion to support entrepreneurs in order to drive a structural shift from an industrial to service-based economy underpinned technology and innovation....Read More