In what was once viewed as a technological imposter, China is now said to be pursuing dominance of a wide range of technologies, from blockchain to AI (artificial intelligence). There is a lot of excitement about these new technologies, which are expected to be essential in the future. Chinese financial institutions are expected to continue promoting their country’s technology industry despite a trade spat between the United States and China. East Tech West, CNBC’s technology conference set in the Nansha area of Guangzhou province, China, will focus on the future of blockchain, AI, financial technology, and smartphones, among other issues.
Both Chinese and American IT businesses are heavily investing in AI research and development, and both countries have developed national AI plans. In 2017, China announced plans to become the world leader in artificial intelligence (AI) by the year 2030, with a goal of $147.7 billion in industrial revenue (1 trillion yuan). Beijing has implemented AI applications, such as face recognition, on a large scale. Despite this, the United States is often regarded as the world’s research and development powerhouse. “On AI, China is implementing the technology extremely swiftly in speed detection, facial recognition,” Rebecca Fannin, author of “Tech Titans of China,” said CNBC.
Elon Musk has claimed that his company’s AI brain implants can “cure” autism and schizophrenia, which is relevant. Neuralink, Elon Musk’s neural technology company, believes it is ready to “cure” autism and schizophrenia, according to the billionaire. During an interview with Lex Fridman on the AI podcast, Musk was asked what he thought will be the most intriguing effects of Neuralink. According to reports, Neuralink’s goal is to construct an AI-enabled device that can be implanted in an individual’s brain, where it would be able to monitor and perhaps stimulate brain activity.