China Can Quickly Catch Up to US AI, Says Venture Veteran

Kai-Fu Lee sees bigger change than mobile revolution ahead
The race is now on to build AI platforms rather than just apps

WATCH: Venture Capitalist Kai-Fu Lee tells Bloomberg the US has the clear lead in developing AI, but it won’t take long before China catches up. Source: Bloomberg

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By Charlotte Yang and Jane Zhang

March 15, 2023 at 10:00 AM UTC

This article is for subscribers only.

China can match the US in artificial intelligence thanks to the expertise of companies from Alibaba to Baidu, joining a global tech transformation that will dwarf the mobile revolution, according to industry pioneer Kai-Fu Lee.

American companies like Microsoft Corp. and Alphabet Inc. have the clear lead now, but much as it did in the early days of the internet, China will catch up through quick iteration from its private sector, said Lee. The bestselling author on AI, who founded Sinovation Ventures more than a decade ago, has been at the heart of China’s growing adoption of the technology and backed some of its biggest startups in the field like Megvii and Meitu.