That’s the conclusion of a report from Lux Research, ‘Will China Take Over the Global AI Industry?’, which has taken a detailed look at the industry in China.
While on the surface all innovation-related data indicates that China is poised to take over the world, dig a little deeper and the hype around the industry is over blown, the report suggests.
Chinese AI start-ups have received almost 70% more funding than their U.S. counterparts, yet that investment is concentrated in only a few areas and while China leads in the volume of patents and papers published, deeper analysis indicates that it is far from leading the world when it comes to developing truly innovative technologies.
While Chinese companies have seen rapid business growth in their domestic market, they are having real problems entering into the Western market.
It seems that much of the talk about China being poised to take over the world when it comes to AI has been somewhat premature.