WASHINGTON: The United States is leading rivals in development and use of artificial intelligence while China is rising quickly and European Union is lagging, a research report showed Monday.
The study by the Information Technology and Innovation Foundation assessed AI using 30 separate metrics including human talent, research activity, commercial development and investment in hardware and software.
The United States leads, with an overall score of 44.6 points on a 100-point scale, followed by China with 32 and the European Union with 23.3, the report based on 2020 data found.
The researchers found the US leading in key areas such as investment in startups and research and development funding.
But China has made strides in several areas and last year had more of the world’s 500 most powerful supercomputers than any other nation — 214, compared with 113 for the US and 91 for the EU.
“The Chinese government has made AI a top priority and the results are showing,” said Daniel Castro, director of the think tank’s Center for Data Innovation and lead author of the report.
“The United States and European Union need to pay attention to what China is doing and respond, because nations that lead in the development and use of AI will shape its future and significantly improve their economic competitiveness, while those that fall behind risk losing competitiveness in key industries.”
The EU lagged notably in venture capital and private equity funding, while faring better in terms of research papers published.
The report found China published some 24,929 AI research papers in 2018, the latest year for which data was available, to 20,418 for the European Union and 16,233 for the United States.
But it said that “average US research quality is still higher than that of China and the European Union.”
The survey also concluded that the United States “is still the world leader in designing chips for AI systems.”
To remain competitive, the report said, Europe needs to boost research tax incentives, and expand public research institutes working on AI.
For the United States to maintain its lead, it must boost support for AI research and deployment, and step up efforts to develop AI talent domestically while attracting top talent from around the world.
US leading race in artificial intelligence, China rising
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US leading race in artificial intelligence, China rising
- The study assessed AI using 30 separate metrics including human talent, research activity, commercial development
India, EU agree on trade deal slashing tariffs on 99.5% of Indian exports
- Agreement expected to be signed later this year and come into force in early 2027
- Duty cuts on 99.5% Indian exports to EU unlikely to offset US tariff impact, expert says
NEW DELHI: India and the EU have concluded negotiations on a deal creating a free trade zone of 2 billion people, European Commission President Ursula von der Leyen and Indian Prime Minister Narendra Modi said on Tuesday.
Talks for the pact, referred to by both leaders as the “mother of all deals,” started in 2007 and stalled repeatedly over the years, with the negotiation process only speeding up last year, following new US tariff polices.
The agreement is expected to be signed later this year and may come into force in early 2027.
“People around the world are calling it the ‘mother of all deals.’ This agreement brings huge opportunities for India’s 1.4 billion people and for millions of people across European countries,” Modi said during a joint press conference with Von der Leyen and European Council President Antonio Costa in New Delhi.
“It represents 25 percent of the global GDP and one-third of global trade.”
The deal paves the way for India to open its vast market to free trade with the EU, its biggest trading partner, and gain preferential access for almost all of its exports to the 27-nation European bloc.
“We have created a free trade zone of 2 billion people, with both sides set to gain economically,” Von der Leyen said. “We have sent a signal to the world that rules-based cooperation still delivers great outcomes.”
The conclusion of negotiations comes as US President Donald Trump slapped India with 50 percent tariffs and has threatened to impose new duties on several EU countries unless they support his efforts to take over Greenland.
“This is a signal to the US that like-minded entities, EU and India, are willing to come together and work together,” Prof. Harsh V. Pant, vice president of the Observer Research Foundation, told Arab News.
“Here are two countries that are bringing in a greater predictability and less volatility in their relationship, and they will move ahead irrespective of what the US does.”
The deal is expected to double EU goods exports to India by 2032 as tariffs on 96.6 percent of EU goods exports — from automobiles and industrial goods to wine and chocolates — will be eliminated or reduced, saving up to $4.75 billion per year in duties on European products, according to a European Commission press release on Tuesday.
At the same time, the EU will eliminate or reduce tariffs on 99.5 percent of goods imported from India over seven years, India’s Ministry of Commerce and Industry said in a statement, projecting gains mainly in labor-intensive sectors like textiles, leather, marine products, gems and jewelry.
“Indian services will also benefit from the trade deal. But, more than just export growth, the deal is part of a broader EU-India alliance on green tech, critical raw materials, digital rules and other aspects, which should channelize higher FDI (foreign direct investment) into India,” said Dr. Anupam Manur, professor of economics at the Takshashila Institution.
“India can potentially have a welfare and income gain of 0.5 percent of its GDP in the long run. It would also boost Indian exports to the EU by about $5 billion from the current level of about $76 billion.”
The agreement is unlikely to fully compensate for a slowdown in trade with the US.
“In the near term, this will partially offset the loss of exports to the US due to tariffs but cannot be expected to entirely mitigate it. Shifting supply chains and exports take time,” Manur said.
“The implementation of the FTA would take about a year’s time. The deal is expected to come into force by early 2027.”
