Beijing (PingWest)- Eric Schmidt, former Google CEO, urged the U.S government to increase funding for research and development in the artificial intelligence space, warning China is likely to catch up to the U.S in a few years in its artificial intelligence capabilities.
The former Google CEO and current chair of the National Security Commission on Artificial Intelligence suggests the U.S government increasing the budget for R&D in AI from USD1.5 billion this year to USD 2 billion in 2022, and then doubling it each year until it hits USD32 billion in 2026.
Eric Schmidt said ramping up would not only promote private investments in the sector but also it could save taxpayers money in the long run by modernizing the government’s infrastructure. He estimate that the AI industry could be worth USD50 trillion over the next 20 years.
He also highlighted that the U.S is falling behind China in 3D, Robotics, as well as facial recognition technology.
National Security Commission on Artificial Intelligence is tasked with making recommendations to the US government on the use of artificial intelligence and other technologies related to national security.
In March, China’s premier Li Keqiang said that the country will increase annual spending on R&D in technology sectors by more than 7% per year over the next five years.
The annual spending on R&D will dedicate mainly to key technology sectors including artificial intelligence, quantum computing, cloud computing, brain science, semiconductors, genetic research and biotechnology, clinical medicine and health, and deep space, deep sea and polar exploration.