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US and China Announce Major Investment Plans in Heated AI Race

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On July 13, U.S. Secretary of Defense Lloyd Austin said at the Global Emerging Technology Summit hosted by the National Security Council for Artificial Intelligence (NSCAI) that the Department of Defense will invest nearly $1.5 billion to accelerate the development of AI over the next five years. U.S. Secretary of Commerce Gina Raimondo, who attended the summit, also commented on the matter. “It’s important that AI is developed in a way, and regulated in a way, that is consistent with our democratic values of freedom and openness, protection for our intellectual property, respect for human rights, and respect for privacy,” she said. “We cannot let China write the rules of the road around AI.” Shortly after, on July 14, Beijing released the “China Internet Development Report (2021),” showing the CCP invested about $65 billion in the AI industry last year. And there were 1,454 existing AI companies in China, ranking second globally …

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