China may be spending far less on AI research than previously thought, US think tank says

The Chinese government is probably not dramatically outspending the US government on AI research and development, a recent report suggests. — SCMP

When China laid out plans to become the global leader in artificial intelligence (AI) by 2030, the world took notice. While Beijing itself has never given a clear figure on the scope of its total AI investment, many assumed that the world’s second-largest economy would back its national AI plan with the necessary resources.

In 2017, the year China published its “Next Generation Artificial Intelligence Development Plan”, the country accounted for 48% of total equity funding for AI startups compared to 38% funded by the US and 13% by the rest of the world.