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The current ravishing trends of Artificial Intelligence are hailing all the industries across different countries. AI has the power to recognize faces, run autonomous cars, deliver better online outcomes and strengthen business in various industries. Not too much of a surprise, the developed, developing and under-developed countries all are focusing on AI adoption for better futuristic opportunities and development. While AI technology is flourishing within and beyond the circumference of the world, some major AI powers are working hard on winning the race.
China has always held ambitions significantly high for becoming the AI Superpower of the world. In light of this goal, the State Council of the People's Republic of China has declared to become a US$150 billion AI global leader by 2030. The goal is not just vague but looks achievable as it is already a global leader in AI research.
Moreover, the country has published a number of research papers on deep learning which is comparatively more than other leading countries. The biggest benefit is brought by its population using the internet (approximately 750 million people) generating a huge supply of digital data to process. According to a PwC survey, over 47% of CEOs in China surveyed reported that there are some forms of AI initiatives currently in place in their organizations, compared with 42% globally. On the other side, 39% of executives said they have plans to introduce AI initiatives in their organization in the next three years, 4% higher than their global counterparts.
The United States of America is giving tough competition to China in terms of becoming an AI superpower. With the well-established tech culture in the US, the country has benefited with $10 billion in venture capital channeling in the direction of AI.
But the future of AI has become unclear and is expected to decline due to recent country activities including reduced funding for AI, acceleration in education costs, and strict immigration restrictions for international research professionals. Global provider of information-based analytics, RELX revealed that AI usage in the U.S. has continued to climb, jumping from 48% in 2018 to 72% in 2019. According to the report, 54% of respondents reported that AI helped their team in optimizing systems and lessening costs. On the other side, 28% of businesses that are aware of AI but not using it cited budget constraints as the primary reason, followed by lack of technical expertise (36%), unproven ROI (30%), and lack of C-suite or Board buy-in (16%).
In the continent of Europe, the UK is the clear leader with 121 AI-empowered firms. Tech companies in the UK raised a private investment sum of US$8.6 billion in 2017. The amount is almost 38 percent of the entire venture capital investment done in the United Kingdom that year. The same year the UK government announced the funding of US$78 million to support robotics and AI research projects.
The government of Canada plays an important role in investing in AI projects. In march 2017 the Canadian government committed to making a US$125 million investment in AI research. Significantly, after the US presidential election was won by Donald Trump, Canada started recruiting AI talents.
Moreover, the Quebec government has forewarned that it is necessary to level up the significant investment with that of the UK and China, or else Canada will lack behind in becoming AI worldly power. In a Deloitte survey, Canadian businesses significantly trail their peers on AI adoption. According to the survey, 71% of businesses in the country have not even begun their AI journey, while the early adopters are struggling to scale their pilots. Only 16% of all businesses reported using AI technologies effectively.
According to Russian President Vladimir Putin, the AI leader will rule the world. The country invests $12.5 million annually in AI. It has also been observed that the real robustness of Russia in AI comes from the confined participation of the government in public and private AI engagements. Additionally, a number of AI demonstrations of the country are military in nature for example AI-empowered fighter jets and automated artillery. According to a Statista report, over 40% of companies in Russia deployed AI for R&D in 2019, while over 30% of businesses used it for customer services, such as personalization. Only 7% of the enterprises used AI to maintain their social media presence.
The country is well known for its clockwork efficiency and is sufficiently versed in technical know-how. Germany is all set to blend its tradition with technology innovations. The country is self-assured to possess leadership in robotics, autonomous vehicles, and quantum computing.
Additionally, the Cyber Valley of Germany is luring a lot of international interest and investment. Recent research showed that in over 60% of companies that had successfully scaled AI, executives had aligned on a clear analytics vision, compared with 28% of their peers. In professional services and retail, companies that do not deploy AI reported that cash flows generated from digital businesses are 15% to 20% lower than those of their AI-embracing counterparts. In financial services, the gap is 30%, and in high tech, a substantial 80%, according to McKinsey.
Norway is showcasing its desire to go beyond oil drilling and fishing past and acquire some technological credentials. Although, the country has a long way to go to become an AI power yet the accelerator program launched in 2017 with $11 million of funding to develop Norway as a technological hub is giving some serious leadership goals.
The Statista report revealed that over 80% of Norwegian enterprises' most relevant use of AI is for automation, while 14% of the businesses found AI relevant for prescriptions. Further, the McKinsey report noted that AI is not a priority on Nordic C-suites' agendas. While more than three-quarters of businesses are piloting or embedding AI into at least one function/business unit, approximately 30% have rolled it out at scale and few discuss it on their boards.
A recent survey conducted in Sweden shows that 80 percent of residents are positive about AI and robots which means it would not be much of a pain for the country to replace human workers with AI. Rather who is well-versed in AI and technology are more likely to extend their support for automation expansion amongst the various industries flourishing in Sweden. The Swedish union and workers are also giving a green signal to AI as they believe it will enhance the most human skills and obtain a competitive edge in the global market.
The government of France is investing $1.8 billion in AI research until 2022. The French AI initiatives will zoom into data with a strategy to make private companies publicly release their data for utilising it as AI use-cases. Certain other initiatives will also focus on research firms and strengthening them over time.
A certain amount of funding will be invested in an AI research partnership with Germany (the amount is yet undisclosed).
India is a fast-growing and developing nation, going through a lot of transformation in its digital space. The impact of technology like artificial intelligence (AI) in the country can be measured from the influence of digital technologies on the economic elements and GDP which is 8 percent. The percentage is expected to increase to 60 percent in the next two years.
However, any budget allocation has not been provided by the Indian administration yet the country is determined to lead the AI race by embracing a number of AI initiatives. According to a joint survey conducted by NASSCOM and EY, around 60% of the corporate leaders in India realized the growing importance of AI and the need to adopt it. Although 70% of enterprises that have deployed AI are said to have achieved measurable benefits, the AI adoption rate is still low in the country. Only 25% of the Indian enterprises have deployed AI solutions, while a majority of business leaders believed that AI will disrupt their businesses within the next three years.
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