Robocap: US will have to share AI leadership with China
The US will have to share overall AI global leadership with China within five years as the gap between the countries narrows, new global research with institutional investors and wealth managers managing assets of $513 billion from Robocap shows
The study with senior executives at insurance asset managers, pension funds, family offices and wealth managers found 56% believe the US and China will be joint leaders in the global AI race with just a third expecting the US to maintain its current market leading position. Only 2% believe China will overtake the US.
China already leads the AI race in specific areas such as volume of AI patents, the production of research talent and some physical AI applications in robotics, but the US is widely considered the leader due to its dominance in private investment, high-end semiconductor design and the design of the world’s most powerful frontier models.
Intriguingly the research from Robocap, the leading investor in robotics, automation and AI, found around one in 12 (8%) believe some other country or group could overtake the US and China.
Almost all (99%) expect the value of the UK AI market – currently the third largest by value – to increase over the next five years, research with the firms based in the UK, US, UAE, Saudi Arabia, Singapore, Hong Kong, Germany and Switzerland found. Around 28% expect a dramatic increase.
All expect the UAE and Saudi Arabia to be successful in their goals to become global AI hubs for research and data centres over the next five years. Around 60% believe they will be very successful.
However all agree that regulation of AI in the UK and European Union is too stringent and has as a result constrained creativity and innovation including 30% who strongly agree with this view.
Nearly all (96%) believe they are currently following the right energy policy to deliver their ESG objectives and AI ambitions. However the majority (60%) believe they should be prioritising AI sovereignty in regard to energy policy ahead of 40% who believe they should be focusing on limiting energy production.