To better understand how artificial intelligence (AI) is being adopted differently by nations around the world, we sat down with Virtusa’s Executive Vice President of Global Digital Solutions, Frank Palermo. We’ve also highlighted the best AI platforms for business
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To better understand how artificial intelligence ( AI ) is being adopted differently by nations around the world, we sat down with Virtusa’s Executive Vice President of Global Digital Solutions, Frank Palermo. We’ve also highlighted the best AI platforms for business
1. Is there much disparity between different global regions’ approaches to robotics, artificial intelligence and autonomous vehicles or, indeed, their policies on these technologies?
As AI takes a more prevalent role in our society, the issue of ethics and governance has become critical, and policymakers around the globe have a collective responsibility to be forward thinking when deciding how best to regulate it. It is imperative that AI is managed in a way that allows the technology to reach its full potential, while ensuring it doesn’t have a negative impact on humans and society.
The US has historically left technology companies relatively unimpeded by government oversight or stringent regulation, with the market dominance of the FAANG companies (Facebook, Apple, Amazon, Netflix and Alphabet’s Google) serving as a perfect example of this. While China has taken almost the opposite approach, with the Chinese government having a more ‘hands-on’ role, specifically mentioning AI in their ‘grand vision’ for the country, this has somehow still resulted in a similar ecosystem of tech giants, namely the BAT companies (Baidu, Alibaba and Tencent). Like America’s FAANGs, China’s BATs have established their own AI-dedicated labs, with Baidu in particular investing 15% of its revenue in R&D in AI related research.
Elsewhere, Europe has a growing AI industry presence, inviting considerable attention from European regulators, though there is currently no overarching legislative approach towards AI in the region. Additionally, in the Middle East, attitudes towards AI are fairly liberal. For example, Saudi Arabia grabbed international headlines for granting citizenshipto Sophia (the AI robot) and the Prime Minister of the UAE and Ruler of Dubai launched the UAE Artificial Intelligence Strategy 2031 – aiming to enhance sectors like education, transportation, energy and space to achieve 100% reliance on AI for government services and data analysis by 2031.
2. Can you comment on the investment environments in these different regions?
With the global business value derived from AI projected to total $1.2 trillion in 2018, it stands to reason that global investments in the technology continue to skyrocket.
China is aggressively investing in AI, with the country’s AI startups benefitting from government support as state agencies are directing capital to these companies. One such beneficiary, facial recognition startup Megvii, received a $460 million investment from a Chinese government-backed venture capital fund.[…]