IT executives of Technology firms have expressed that 1 Billion dollar investment is not sufficient for AI research and development in the US.
Last Tuesday, US Federal agencies announced investing around 1 billion dollars as it is committed to artificial intelligence expansion and research in the country. However, according to the top IT executives, this amount is less as USA needs higher investments and much more concentration in case it wants to maintain its leadership in AI.
Federal Agencies Show Commitment to AI research by Announcing Investment
For the first time, Federal agencies have calculated AI spending requests specific to the agencies. The agencies requested around $973.5 Million dollars for the fiscal year until Sep 2020.
Trump government officials expressed that the investment amount shows that the government is committed to strengthen and retain US leadership in Artificial Intelligence. Govt officials said that there is a cause of concern since China’s investment amounts in AI are not transparent. However, US figures are well communicated and transparent.
Usage of AI is growing across the sectors
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Artificial Intelligence is growing each day and its penetration in various industries is getting bigger. In every industry, the human function is being enhanced with the power of AI-enabled services, Organizations are investing highly in research and development based on Machine learning and AI.
What Executives are saying
Technology representatives from Intel Corporation and Nvidia Corporation who attended the event voiced their opinion saying that the government needs more investment in AI. According to them, the federal officers need to create better regulations for monitoring and controlling data privacy and protection. Experts have debated that it is needed to enhance private investment in AI as the data heavily impacts this technology.
Jackie Medecki, the managing attorney and director of Intel’s AI and health care policy division in the US, said that the AI Research funding is Nowhere close to where it should be.
She also said that not having a good national policy regulation is a setback.
Anthony Robbins, Nvidia’s Vice President for North American public sector, said that USA needs to do more to maintain its status as a leader in AI.
As the European Union and China invest heavily in AI and also create robust procedures and legislatures to implement AI, Experts believe that the US needs more than 1 Billion dollar investment to catch up the AI race.