The AI investment race between China and the US is closer than headline figures suggest, even though the technology is expected to make a greater contribution to economic growth in America, according to a Chinese think tank.
The findings come as artificial intelligence becomes a focal point of technological competition between Beijing and Washington, with investment levels, computing power and the commercial applications of AI all under greater scrutiny.
According to a report released recently by a research team affiliated with China Finance 40 Forum, in terms of capital expenditure by major technology firms – a common metric for gauging AI investment – China will spend about one-eighth as much as the United States this year.