Asian countries, particularly China and South Korea, look set to dominate the crucial sectors of wireless technology and artificial intelligence (AI), although President Donald Trump’s administration has repeatedly insisted that the US should lead in these two fields.
South Korea is increasingly seeking patents on technologies related to 5G phone networks, while China is home to more universities and public institutes researching artificial intelligence, reported Bloomberg citing recent research reports.
The Chinese Academy of Sciences tops the list of the world’s leading AI research institutes, and 17 of the top 20 universities and public research organizations researching on AI are in the Asian country.
The United States is still ahead of other countries when it comes innovation, but now it is certain that China is fast catching up.
Universities are the places where new tech unicorns take shape. But the US federal grant to such institutes have been stagnant for the past several years.
In the University California in Berkeley, Bloomberg says, many engineers are researching on cutting edge technologies. But hardly a few of these projects are getting funded.
“Federal funding of $40 billion for university research in fiscal 2017 was slightly below its peak six years earlier….. The government’s share has slipped below 60 percent, from almost 70 percent in 2004,” reported the news wire.
President Donald Trump has been persuading American firms to take control on key technology sectors, but a lack of funding and shortage in technology talent are likely to blunt the country’s competitive edge, say analysts.