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China Aims To Be Tech Leader In Blockchain And AI Domain

Reportedly, China—the Asian country which was once seen as an impersonator when it came to technology—is presently seeking control in domains from blockchain to AI (artificial intelligence). These are much-hyped technologies that are considered important in the future. In spite of the U.S.-China trade battle, experts assert the world’s second-biggest financial system will persist pushing its national technology sector. The future of blockchain, AI, financial technology, and smartphones would be amongst the topics conversed at East Tech West—which is CNBC’s technology summit scheduled in the Nansha district of Guangzhou province, China.

The U.S. and Chinese tech companies are investing a lot of money for the development of AI and both nations have launched their individual national strategies concerning it. In 2017, China laid out intentions to become the global leader in AI by the end of 2030, with the target of making the industry worth $147.7 Billion (1 trillion yuan). Beijing has rolled out AI uses like facial recognition technology on a big scale. Nevertheless, the U.S. is seen having dominance when considering research and development. Rebecca Fannin—Author of “Tech Titans of China”—said to CNBC, “On AI, China is executing the technology very rapidly in speed recognition, facial recognition, smart cities, self-driving vehicles, and medical diagnoses.”

On a related note, recently, Elon Musk stated that his AI brain chips firm can “solve” autism and schizophrenia. Elon Musk believes his neural technology firm Neuralink is prepared to “solve” autism and schizophrenia. Speaking during the AI podcast with Lex Fridman, Musk was asked his opinion about the most exciting impacts he predicts for Neuralink. Reportedly, Neuralink’s aim is to build up an AI-enabled chip that can be embedded in an individual’s brain, where it will be capable of recording brain activity and possibly stimulate it.

Anthony Reed
Anthony Reed Author
Sr. Content Writer At Times of Market

Besides completing a Bachelor’s Degree in Computer Science, Anthony holds total 3 years experience in the Technology domain. This combination of formal education and practical knowledge has offered Anthony proficiency in this sector. Before entering into the writing field, he served as a Data Administrator for approximately 1 years. Presently, he is the Sr. Content writer at Times Of Market and supervises a group of 3 writers competently. His adept managerial capabilities have helped him throughout his professional life to achieve his goals. While he can write news on any given topics from the Technology domain, he prefers to cover news on Artificial Intelligence.

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