AI is industrializing

Illustration: Sarah Grillo/Axios
  • “A majority of North American AI Ph.D.s — 65% — now go into industry, up from 44% in 2010, a sign of the growing role that large companies are playing both in AI research and implementation.
  • Even with the pandemic, private AI investment grew by 9.3% in 2020, a bigger increase than in 2019.
  • The National Security Commission on Artificial Intelligence warned in a major report this week that ‘China possesses the might, talent, and ambition to surpass the United States as the world’s leader in AI in the next decade if current trends do not change.’”

https://www.google.com/amp/s/www.axios.com/state-of-artificial-intelligence-stanford-university-f5d71c41-251e-4fb4-b9b2-89fdee48bb3c.html

Here’s what you need to know about the new AI race

“AI dominance can take on many forms. We tend to think of AI as a technology, but it is first and foremost an ambition to create systems that display intelligent behavior. We can roughly identify three technological manifestations of this ambition. First, programmed AI that humans design in detail with a particular function in mind, like (most) manufacturing robots, virtual travel agents and Excel sheet functions. Second, statistical AI that learns to design itself given a particular predefined function or goal. Like humans, these systems are not designed in detail and also like humans, they can make decisions but they do not necessarily have the capability to explain why they made those decisions. The third manifestation is AI-for-itself: a system that can act autonomously, responsibly, in a trustworthy style, and may very well be conscious, or not. We don’t know, because such a system does not yet exist.”

https://www.weforum.org/agenda/2021/02/heres-what-you-need-to-know-about-the-new-ai-arms-race

China Tightens AI Export Restrictions

  • “Microsoft Corp., Walmart Inc. and Oracle Corp. have all expressed interest in the breakout app, the success of which rests on addictive video feeds powered by ByteDance’s AI-driven content-recommendation engine.
  • China announced new restrictions on artificial-intelligence technology exports that could further complicate the sale of TikTok’s U.S. operations, while intensifying the tech battle between the world’s two largest economies.”

https://www.google.com/amp/s/www.wsj.com/amp/articles/china-tightens-ai-export-restrictions-11598703527

Digital Banking: Swiss Financial Giant UBS has Applied for a Virtual Bank License in Mainland China

  • “Koh revealed that acquiring a wealth management customer costs about $25,000. UBS’ management believes they can significantly reduce such expenses if they operate an all-digital bank.
  • Koh believes China is the ideal place to establish a digital banking platform, because of the nation’s expertise in artificial intelligence (AI). The $13.6 trillion economy is also home to rapidly evolving financial services and risk management businesses.”

https://www.google.com/amp/s/www.crowdfundinsider.com/2020/05/161274-digital-banking-swiss-financial-giant-ubs-has-applied-for-a-virtual-bank-license-in-mainland-china/amp/

The White House wants to spend hundreds of millions more on AI research

“The White House is pumping hundreds of millions more dollars into artificial intelligence research. In budget plans announced on Monday, the administration bumped funding for AI research at the Defense Advanced Research Projects Agency (DARPA) from $50 million to $249 million and at the National Science Foundation from $500 million to $850 million.”

https://www.technologyreview.com/f/615174/the-white-house-will-spend-hundreds-of-millions-more-on-ai-research/