China Prepares to Unseat US in Fight for $4.8 Trillion AI Market

China’s answer is a new global organization to convene countries to foster safe and inclusive use of the powerful new technology. At the annual World AI Conference over the weekend, Chinese Premier Li Qiang warned of AI “monopoly” and instead called on foreign officials in the room — mostly from developing countries — to cooperate on governance.

The new group, known as the World AI Cooperation Organization, embodies China’s plan to jostle with the US for sway by positioning itself as a champion of AI for all. More favorable rules may give a global boost to Chinese companies competing with US firms to sell hardware and services in a market estimated to hit $4.8 trillion by 2033.

For many of the countries represented at the conference, Chinese firms already offer competitive solutions, even if the US dominates the supply of cutting-edge AI chips.

By Bloomberg News

Full story at Yahoo News.