Artificial intelligence (AI) has the potential to radically transform economies and societies for the better. While AI's impact is clearly top-of-mind for most organizations, governments and policymakers of different countries have also embarked on strategies to integrate AI across industries in order to stay ahead in the competitive race. Below is a global analysis of strategies adopted in different parts of the world with planned investments ahead.
Earlier this year, Cedric Villani, a renowned and slightly unconventional French mathematician, presented a long paper on "For a meaningful Artificial Intelligence". The paper touched upon various ideas on AI for humanity. French President Emmanuel Macron has shown a very acute interest towards France's AI strategy and how the disrupting technology should be embraced in the light of day.
Villani, who is also a member of the French Parliament, believes that Europe has everything it needs to become a leading player in AI. Macron and Villani believe that it is not purely about economic policies but also about ethics & how AI must not become a new way of excluding parts of the population. Ethics could be a core part of the European AI strategy and we can all see the measures set up by Macron unravel in the forthcoming months.
President Macron also announced a $1.6 billion investment in AI including new research centers and data-sharing initiatives. When most people are concerned with the job layoffs due to the emergence of AI tech, Macron echoes a view held by many experts – AI technology has the ability to boost overall economic productivity, wage growth and employment opportunities.
When the world is finding ways to eliminate bias in AI tech, China is more focused to move as fast as possible. The Chinese government laid out a plan for global AI dominance in July 2017 and its goal is to lead the world in AI by 2030. With such statements in sight, no wonder other economies are bringing in their best players to this Global AI tech game.
Baidu, China's dominant search engine, is betting its future on Artificial Intelligence in Asia and beyond. Robin Li, co-founder of Baidu, missed being on the forefront of the last tech revolution – a shift from browser to mobile. So Li does not want to repeat the same mistake. Baidu hopes to deliver AI tech that infuses everything & every system – be it from medicine, entertainment or cars – with artificial intelligence.
Tencent, another multinational internet-services company in China, aspires to add AI in all. YouTu Lab by Tencent is focused on machine learning and is credited with work in multiple technologies under audio, video and image analysis.
Speaking of Global AI strategy, how can we not talk about the US' multi-billion dollar hand in it. As per reports, US leads over every other country in dealing with AI hardware whereas China is ahead in mobile, data and building commercial AI companies.
The Obama government was clear that AI should be a key focus of government strategy. But the Trump administration has renounced this vision – They believe that there is no need for government intervention in AI tech or even to create an AI plan. Still, whenever there is a technological disruption, leadership does matter.
Core AI breakthroughs have their origins in academia, and experts suggesting that the US government must focus on funding opportunities. The US has been at the top of their AI game since the beginning of time. But the government needs to help imply existing laws & regulations when it comes to certain AI tech. There have been several cases of accidents involving self-driving vehicles. Federal investigations are being taken place to check if any rules were broken.
In 2017, the UAE appointed a Minister for artificial intelligence to spearhead the country's AI strategy game. The UAE aims to build AI to speed up the government's productivity and improve overall departmental performance.
The UAE has also imposed a government law on the safe use of AI. And the AI strategy issued by them in 2017 includes various sectors – transport (to reduce accidents, cut operational costs), health (alleviate chronic diseases), renewable energy (to manage facilities), education (cut costs & enhance a desire for education) – are amongst the many sectors that the strategy involves.
As per a report by Accenture, AI will boost UAE's economic growth by 1.6% adding a potential $182 billion to the national economy by 2035.
France, Britain and Germany are fighting to attain the top position in AI in Europe. Earlier the German Chancellor, Angela Merkel announced her plans for establishing a national AI strategy. The investment is likely to be over 1 billion pounds. Merkel along with French President Macron has repeatedly called for investments in AI for Europe.
McKinsey has predicted that with the right investments and the way AI is moving in Germany, by 2030 AI could dramatically boost Germany's economy by 10 billion euros.
Germany also has a tech hub for stimulating an AI ecosystem – Cyber Valley. This hub is attempting to create new ways of collaboration between academics and businesses. The agenda of Cyber Valley is to attract the best brains in the area of AI to advance the R&D of intelligent systems.
Michael Chui, a McKinsey partner stated, "If you look globally, it's a two-horse race in AI." China and USA are the clear leaders when it comes to AI – With their billions of dollars of investments and relentless innovative tech creations on-the-go.
However, it is clear how other economies don't want to be left behind. AI is flourishing and most countries have their money and best minds working on it.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.