Private Equity Firm, Teoh Capital has recognised Artificial Intelligence’s present enthralling trends are sweeping throughout all businesses and countries. AI has the ability to recognise faces, drive self-driving cars, improve online outcomes, and increase company in a variety of industries. It should come as no surprise that established, developing, and developing countries are all concentrating on AI adoption in order to improve future possibilities and progress. While AI technology is thriving both within and beyond the world’s borders, some big AI powers are vying for first place. The top ten countries investing extensively in Artificial Intelligence are listed below.
China has always had lofty goals of becoming the world’s AI Superpower. In light of this ambition, China’s State Council has declared that the country will be a $150 billion AI worldwide leader by 2030. The aim is not only hazy, but it appears to be attainable, given that it is already a global leader in AI research.
Furthermore, the country has published a greater number of research articles on deep learning than other major countries. The greatest benefit comes from its internet-using population (roughly 750 million people), which generates a massive amount of digital data to process.
In terms of becoming an AI superpower, the United States of America is giving China a run for its money. Because of the United States’ well-established tech culture, the country has profited from $10 billion in venture money directed toward AI.
However, due to recent country activities such as reduced AI funding, increased education prices, and severe immigration restrictions for international research workers, the future of AI has become uncertain and is projected to diminish.
United Kingdom of Great Britain-
The United Kingdom is the clear leader in Europe, with 121 AI-enabled businesses. In 2017, tech companies in the United Kingdom raised $8.6 billion in private funding. This represents nearly 38% of all venture capital investment in the United Kingdom that year. In the same year, the UK government committed $78 million in financing for robotics and AI research initiatives.
The Canadian government plays a significant role in AI research and development. The Canadian government announced a $125 million investment in AI research in March 2017. Significantly, following Donald Trump’s victory in the US presidential election, Canada began recruiting AI experts.
Furthermore, the Quebec government has cautioned that if Canada does not match its enormous investment with that of the United Kingdom and China, it will fall behind in becoming a world leader in AI.
The AI leader, according to Russian President Vladimir Putin, will dominate the globe. Every year, the country spends $12.5 million on AI. It has also been noted that Russia’s true AI robustness stems from the government’s limited involvement in both public and private AI activities. A number of the country’s AI demonstrations are military in nature, such as AI-powered fighter jets and automated artillery.
The country is famed for its clockwork efficiency and is well-versed in technical knowledge. Germany is ready to combine history with technological advancements. The country feels confident in its position as a leader in robotics, self-driving cars, and quantum computers.
In addition, Germany’s Cyber Valley is attracting a lot of international attention and investment.
Norway is shown its ambition to go technologically beyond its oil-drilling and fishing roots. Despite the fact that Norway has a long way to go before becoming an AI power, the accelerator programme, which was founded in 2017 with $11 million in funding to build Norway as a technological powerhouse, has set some major leadership targets.
According to a recent survey performed in Sweden, 80% of inhabitants are optimistic about AI and robots, implying that replacing human workers with AI would not be difficult. Rather, those who are well-versed in AI and technology are more inclined to support the growth of automation across Sweden’s diverse businesses. AI is also getting a thumbs up from the Swedish unions and workers, who believe it will improve the majority of human talents and provide them a competitive advantage in the worldwide market.
Until 2022, the French government will invest $1.8 billion in AI research. The French AI projects will focus on data, with a goal of requiring private enterprises to openly reveal their data in order to use it in AI applications. Other programmes will focus on research firms as well, with the goal of strengthening them over time.
A specific amount of money will be put into an AI research collaboration with Germany (the amount is yet undisclosed).
India, as a rapidly rising and developing country, is undergoing significant digital revolution. The influence of digital technologies on economic aspects and GDP, which is 8%, can be used to quantify the impact of technology such as artificial intelligence (AI) in the country. In the next two years, the percentage is predicted to rise to 60%.
However, the Indian government has not granted any funding allocation, despite the fact that the country is keen to lead the AI race by embracing a number of AI initiatives.
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