The U.S. government needs to get involved in the A.I. race against China, Nasdaq executive says

  • Date: 25-Nov-2020
  • Source: CNBC
  • Sector:Economy
  • Country:Middle East
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The U.S. government needs to get involved in the A.I. race against China, Nasdaq executive says

A U.S. and a Chinese flag wave outside a commercial building in Beijing.Teh Eng Koon | AFP | Getty ImagesThe U.S. needs to take a "strategic approach" as it competes with China on artificial intelligence, according to a Nasdaq executive.AI is an area that is going to only develop in partnership with government, and U.S. authorities need to get involved, said Edward Knight, vice chairman of Nasdaq.The Chinese government has already started "investing heavily" and working with their private sector to develop new technologies based on artificial intelligence, he said.Beijing in 2017 said it wanted to become the world leader in AI by 2030 and aims to make the industry worth 1 trillion yuan ($152 billion). It included a roadmap about how AI could be developed and deployed."I think the U.S. already is leading, but it needs more … of a strategic approach involving the government," Knight told CNBC's Dan Murphy as part of FinTech Abu Dhabi, which was held online this year. "The private sector alone cannot take on the entire Chinese government and private sector, which is very focused on this."Predicting that society will benefit from any innovation that comes from artificial intelligence, Knight added: "If the U.S.