GENEVA, Nov. 11 – The United States and China have emerged as the world’s two leading powers in artificial intelligence (AI) development. From 2014 to 2023, China registered the highest number of AI-related inventions globally, according to an expert.
The latest Artificial Intelligence Advancement Index released by the International Institute for Management Development (IMD) shows that US companies hold the top position in technology, while Chinese firms rank second.
Michael Wade, Professor of Strategy and Digital Transformation at IMD, said China has focused on expanding AI applications in practical sectors such as industry, healthcare, and autonomous vehicles, which he believes is significantly boosting the nation’s economic growth.
“Despite difficulties in accessing advanced computer chips, China has filed more than 38,000 AI-related patents between 2014 and 2023, far exceeding the number registered by the United States,” Wade said.
He added that China’s priority is not just building highly powerful AI systems but making them accessible and useful in everyday life.
Major companies in technology and communications are investing heavily in AI applications. Chinese firms in the tech and insurance industries are among the strongest performers, while traditional state-owned enterprises in energy and manufacturing continue to lag behind.
The report found that companies with mature AI adoption recorded an average annual revenue growth of 6.79 percent, compared to a 0.51 percent decline among firms weak in AI utilization.
Headquartered in Switzerland, IMD operates teaching centers in Lausanne and Singapore and recently opened a new research hub in Shenzhen, China.
People’s News Monitoring Service
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