Name: Sinovation Ventures CEO discusses accelerating the A.I. revolution
Uploaded: 2020-10-27
Duration: 2 min 44 s
Description: Kai-Fu Lee shares insights on what to expect from the next generation of A.I.

 CLAY CHANDLER: We've got a couple of important technological developments on the horizon in China, very eminent. The shift to a digital bankruptcy is one. And of course, the rollout of 5G. What are your thoughts on those two things and how much will they accelerate this revolution? [COUGHS] KAI-FU LEE: The digital currency is an area where I think China has moved faster than most countries. But it is a large endeavor. It's still in experimental stage right now. The idea of digital currency is really a cash replacement. I think China has dramatically reduced the cash usage already. But the government is rolling out further ability for phones to be able to transfer cash even when they're not connected to the internet. So that would really completely eradicate the use of cash. And that would create tremendous efficiency and convenience. But it will take some amount of time to roll out. I do believe a lot of the ideas when Facebook proposed the digital currency. I think there are a lot of good ideas. And the Chinese model will have some of their ideas in it. I think China had some of the same ideas already. I'm not sure who came up with it. But I think it's fundamentally flawed for a company or a consortium of company to build a digital currency as a first step. I think countries should think about it. And I hope China's efforts will make other countries think the same, so the whole world can be cash free. Digital is so much better, safer than paper cash, which can have all kinds of problems. On 5G, China is moving forward. It's an important national priority. China, in fact, has an effort called the New Infrastructure Project, which is trying to really help all of China move up in terms of the digital infrastructure, including 5G, data centers, IoT, big data, and AI and cloud infrastructure. And that infrastructure, with government helping to produce, will make it easier for application developers and entrepreneurs to build applications on top of that. And I think it's smart for governments to do things, to do infrastructure building, in areas where private companies cannot really afford to do. And 5G is a big part of that. The rollout is significant. 

Kai-Fu Lee shares insights on what to expect from the next generation of A.I.

Sinovation Ventures CEO discusses accelerating the A.I. revolution

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Sinovation Ventures CEO on accelerating the A.I. revolution