Asian Surveying & Mapping
Breaking News
CHC Navigation’s GNSS receivers reach the Everest Peak
Shanghai, China - May 27, 2020 - CHC Navigation...
Government wants to launch a satellite to help South African students study remotely
As the country’s universities prepare for the move towards...
Mapping the history of Kalapani dispute between India and Nepal
As Nepal unveiled a new map of its territories...
Ordnance Survey to create the Ordnance Survey of Dubai
Ordnance Survey has entered a contract to work with...
Scotland joins the Public Sector Geospatial Agreement
The first collective geospatial agreement for Great Britain allowing...
ISRO facilities to open for startups, private firms; new geospatial policy soon
The government will allow private firms and startups to...
Myanmar To Build Two Earth Observation Satellites With Japanese Assistance
Myanmar is to build and launch a small Earth...
New base map for Maltese islands launched
The Planning Authority has launched a new base map...
Airbus supplies EU with satellite communications
Paris, 12 May 2020 – Airbus has won the...
Britain’s £5 billion rival to EU’s Galileo satellite project faces scrap
Plans for Britain to join the space race with...

September 20th, 2019
Despite $6.1 Billion in Funding, China Not Leading in AI Innovation

Boston, MA — Over the past four years, Chinese artificial intelligence (AI) startups have received $6.1 billion in funding. However, despite immense amounts of investment and being second only to the U.S. in number of companies focusing on AI, China is not leading in cutting-edge AI innovation. To better understand the progress of AI in China, the team at Lux Research, a leading provider of tech-enabled research and advisory services for technology innovation, took a deep dive into China’s AI patents, research papers, venture capital (VC) funding, and other innovation data in their new report, “Will China Take Over the Global AI Industry?”

The new report analyzes the total number of AI-related VC funding, patents, and research papers in five major AI technology areas: fundamental AI, natural language processing (NLP), voice recognition, computer vision, and AI processors and edge computing.

“On the surface, all innovation-related data indicate that China is poised to take over the world. Diving deeper, we find that all the hype around AI in China is warranted; however, it only highlights a few platform technologies and market segments,” said Jerrold Wang, Analyst at Lux Research and lead author of the report.

Chinese AI startups received $6.1 billion in VC funding over the past four years – almost 70% more than their U.S. counterparts, which raised $3.6 billion during the same period. The numbers dwarfed the amount of VC funding in other Asian countries, such as Japan, India, and South Korea. Although funding data make China appear to be a global leader in AI, the funding raised by Chinese AI startups is significantly concentrated in the technologies of computer vision and natural language processing.

Additionally, “China has published more AI-related patents and papers than any other country in the world.” Wang noted that although China leads in volume of patents and papers, deeper analysis indicates that it is still not leading the world when it comes to developing truly innovative technologies.

Having focused only on technologies like computer vision, voice recognition, and NLP, as well as only a few market segments, such as finance, retail, and government, Chinese companies have seen rapid business growth in the domestic market, but they are having difficulty entering into the Western market.

Wang goes on to explain that “Chinese AI companies will struggle to penetrate U.S. and European markets because they lack clear technology advantage over the leading local peers and their expertise in covering some Chinese market segments cannot be leveraged to cover the foreign market.”

Lux’s “Will China Take Over the Global AI Industry?” report provides in-depth data and insights that uncover China’s strengths and weaknesses as related to AI, including findings and opportunities by market and type of company. For more information. For more information download the executive summary.

About Lux Research

Lux Research is a leading provider of tech-enabled research and advisory solutions, helping clients drive growth through technology innovation. A pioneer in the research industry, Lux uniquely combines technical expertise and business insights with a proprietary intelligence platform, using advanced analytics and data science to surface true leading indicators. With quality data derived from primary research, fact-based analysis, and opinions that challenge traditional thinking, Lux clients are empowered to make more informed decisions today to ensure future success.

For more information, visit www.luxresearchinc.com, read our blog, connect on LinkedIn, or follow @LuxResearch