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China leads the world in artificial intelligence; India tries catch-up
Tech firms like Microsoft, Google, Amazon and Meta are all slugging it out in this emerging tech space, revealing new AI capabilities built on their existing applications.Sai Ishwarbharath ,
ETtech
Updated On Sep 10, 2023 at 10:01 AM IST
Microsoft co-founder Bill Gates had called artificial intelligence (AI) only the second revolutionary tech advancement in his lifetime, the first being graphical user interface (GUI), the foundation upon which Windows was built.
In a blog post in March, he called AI development similar to other tech inventions such as microprocessors, mobile phones and internet.
Tech firms like Microsoft, Google, Amazon and Meta are all slugging it out in this emerging tech space, revealing new AI capabilities built on their existing applications.
In fact, this war is not only among companies but among countries too. The table below shows the dominance of China in terms of general AI-related patent applications compared to its closest peers.
Over the 2016 to 2023 period, China has increased the number of semi-annual patent applications more than seven-fold, while the US and Japan increased theirs by 3.5 times and two times respectively. While India's base is low, it has shown one of the highest growth rates at over 11, signifying that the country is trying to double up on its AI efforts.
Looking further at individual countries, South Korea and Sweden also stand out in terms of their growth rates of AI
innovation.
Generative AI: Order of impact across supersectors
Financials and fintech: Improved customer experience, fraud deduction and prevention, business risk management and decision making.
Healthcare: Drug discovery and design, recruitment, optimisation of sales calls.
Industrial tech and mobility: Consumer facing and interactive applications, autonomous driving research.
Natural resources and climate tech: Help with higher resource- and asset-efficiencies
Consumer: Mass customisation and personalisation, product authenticity, facial recognition.
Real estate: Chatbots, smart buildings, generative AI adoption will increase demand for data centres.
China leads the world in artificial intelligence; India tries catch-up - ET Telecom
Artificial Intelligence: Tech firms like Microsoft, Google, Amazon and Meta are all slugging it out in this emerging tech space, revealing new AI capabilities built on their existing applications.
