This report published last August compares China, the European Union and the United States in terms of their relative standing in the Artificial Intelligence economy by analyzing six different categories: talent, research, development, adoption, data, and hardware.
The United States are the best performers in four of the six categories examined by the report, namely talent, research, development, and hardware; China leads in adoption and data, while the European Union leads in none.
Among the many reasons which can explain the US leading the report found:
- The Unites States has several AI startups and its AI start-up ecosystem received the most private equity and venture capital funding;
- it leads in the development of both traditional semiconductors and the computer chips that power AI systems;
- it produces fewer AI scholarly papers than the EU or China, but on average their quality is higher.
China is ahead of the European Union in AI and is quickly reducing the gap between itself and the United States. It has more access to data than the European Union and the United States, which is important because many of today’s AI systems use large datasets to train their models accurately. In venture capital and private equity funding, Chinese AI start-ups received more funding than U.S. start-ups in 2017, but not in 2016 or 2018.
With regard to high-quality AI talent China lags behind both the US and the EU.
The European Union has the talent to compete with the United States and China, the crucial point is that there is a disconnect between the amount of AI talent in the EU and its commercial AI adoption and funding. For example, AI start-ups in the United States and China both received more venture capital and private equity funding in 2017 alone than EU AI start-ups received in the period 2016 – 2018.
Find out more here.