Within the next one or two decades, a majority of us in some way will be interacting with the world of artificial intelligence. Companies are investing significantly in the funding and research of these developments. With more and more companies joining and advancing in this race every year, it is undisputed that we are on the brink of another industrial revolution.
To prepare for the changes coming soon, and realizing the potential that the breakthrough can have, many countries around the world have started showing keen interest. While some countries may be ahead of others, there are reasons why China will eventually overtake everyone and become a pioneer for future generations.
Currently, the US has spent a couple of billion on AI every year, whereas China has spent significantly more with $12 billion in 2017. The money is important for key reasons:
- Research: Developing new A.I technologies requires a lot of time and research to determine useful algorithms and creating products. The whole process requires many tedious steps to go through, such as ideas and planning, prototyping, and experimenting. Not to mention substantial funding will help with the equipment necessary for running and testing.
- Talent: Another reason why funding is critical is to attract AI technology research talents from all over the world. Active smart talent is the key to reduce the time for research and keep development continually progressing. The higher a funding a facility it has to work with, the more people can join on-board.
- Startup Culture: High funding can sustain a startup culture for many new prospective businesses to develop products and contribute to the growth of A.I. It will allow new people to take the risk of starting their own business while having the financial support backing the companies up.
These are a few reasons why funding is essential. According to estimates, we should see that value grow to at least $70 billion by 2020. With such massive spending from China’s side, it is reassuring that the country believes strongly in the future of A.I. The more funding a country can put up, the more initiatives it can take. The higher the resources China has, the more risks it can take with its experiment. It will allow for greater freedom while lessening the impact of failure.
Artificial Intelligence works best when there is more data to work with. A.I. begins with data, its the underlying base for any operation or command. With more figures to work with, the algorithms can become more precise and accurate. The predictive analysis can improve and reduce its error.
In this case, China will be at ease when it comes to the abundance of data. With over 1.3 billion people residing in China, there is an abundance of data that can be collected. With rumors and speculations that China uses microphones and cameras to track people, it is unsurprising the amount of data they are collecting as it will help the country in its endeavors.
All of this, can be used in programs to predict things such as how often a person shops at a certain store, or what product a person uses the most in his/her daily life. Having more data allows the facilities to make their software more accurate and precise. The greater the population, the greater the amount of data can be accumulated, and there is no such thing as too much data.
With such a high volume of data that can be collected, the chances and the effects of outliers in minimized.
Data is a key factor for most companies to grow, and for artificial intelligence, it is the basis of it. It is so important that cloud structures are being set up and maintained to store all of it securely. More or less we are entering a data-driven economy, where information about the user will become more valuable.
China’s growth in A.I. will be unprecedented. It has key factors that give it a competitive edge over other countries such as the United States or Japan. Within a few years, it will become a leader in this field. With such a high funding allotted for A.I. research and development, and massive data to work with, the country is poised to create some exciting breakthroughs with the technology.