Key takeaways
- Asian countries are making significant investments in Artificial Intelligence, showcasing their capabilities at major events like CES 2017.
- Leading companies from Japan, Korea, and China are advancing AI and robotics technologies through innovative products.
- Asia has surpassed Europe in establishing innovation centres dedicated to the advancement of Artificial Intelligence.
China betting big on AI
What’s China bullish on now? Artificial Intelligence (AI) and there is a renewed focus on the technology, cites a KPMG analysis. According to the report, while other countries were trailing in investment, China saw a record high in venture capital in 2016. So what’s behind China’s artificial intelligence agenda? The KPMG analysis reveals a marked shift in China from an agriculture and manufacturing driven economy to one that is innovation focused. Not to forget, Chinese industry experts had expressed concern over missing the boat on being the frontrunners in developing “operation systems for smartphones”. “Over the next year, the world will recognize how much AI is changing the way we work. And there is an upsurge in the artificial intelligence investments in Asia and this a growing trend. 2017 is the year where investors do not want to miss the boat,” Egidio Zarrella, Partner, Clients and Innovation, KPMG China, cited in the report. Meanwhile, globally, investments in AI took a big hit, with investors treading the market more cautiously. Although, the market remained buoyant for Asia with a solid investment of $39 billion in 2016, though deal activities had slowed down as the numbers point out – dropping from 2,266 in 2015 to 1,742 in 2016.Baidu leading the charge in becoming a global leader in AI
China’s race to AI is also seen as a move to counter American technology giants (Google, Facebook, Microsoft) who through their sheer scale and size acquire smaller companies to expand their portfolio. One of the recent recognition for China was for Baidu -- the Google of China that earned a number # 2 spot in MIT’s 50 smartest companies 2016. China’s search engine giant is leading the charge when it comes to AI, with deep investments in startups and snagging up top-notch talent from its American counterparts. It has a Silicon Valley Lab that competes with legacy giants such as Facebook and Microsoft for the best talent. And there’s another lab in the offing solely for Augmented Reality (AR).
What does it mean for India?
From public transportation to manufacturing and logistics, AI can positively influence these industry cohorts and drive better outcomes. According to a survey conducted by MIT Technology Review Asian business landscape is well-poised for an AI revolution, thanks to venture capitalists seeding investments in research and startups and efforts of the government. According to news reports, 200 plus AI-focused global companies have collectively raised more than $1.5 billion in the last year in India. In numbers, in the last 18 months, 6 Indian AI-based startups have already been acquired by global companies. Last September, Hyderabad-based startup Tuplejump made global news when iPhone manufacturer Apple acquired the machine learning startup for about $20 million.
