THE country that becomes the world leader in artificial intelligence by 2030 will rule the world for at least the rest of the century, according to a new report.
Economy experts appear to generally agree that AI is up there with steam power, electricity and information systems technology, when it comes to the impact it will have on our planet.
Chief Economist for Europe and Central Asia at the World Bank, Indermit Gill, made the claims in his recent report for the Brookings Institution.
According to Gill: “Technological leadership will require big digital investments, rapid business process innovation, and efficient tax and transfer systems.
“China appears to have the edge in the first, the US in the second, and Western Europe in the third.”
He thinks the country that gets the best grip on all those things will end up leading the world.
China is thought to currently have the biggest advantage as it’s government is heavily investing in machine learning tech.
However, Gill notes: “China has neither the entrepreneurial nimbleness of America nor the capable public finance systems of Western Europe, but it is putting a lot of money into digital dominance.
“The question is whether this will be enough.”
The EU has managed to slide past Russia to take the third spot in the AI race.
Europe is said to be going for a more careful slow is steady wins the race strategy, with better infrastructure and taxation systems already in place.
However, it appears Gill thinks the US is likely to reign supreme if it makes a few adjustments.
He said: “China has to find ways to encourage entrepreneurship and address the massive disparities in education and wealth.
“Europe has to mobilise large amounts of money and make it easier for investors anywhere to bring inventions to the Single Market.
“The United States just has to quickly figure out ways to restore competition in tech, finance, health, and public education, so its redistribution systems are not strained.”
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