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Masayoshi Son, the Founder & Chief Executive of SoftBank Group Corp, said that Japan has become a developing country regarding the development of AI. (Image credit: Bloomberg)
Softbank CEO: Japan is a "developing country" in AI competition
Japan is well known for its advance in sci-tech for decades, however in the race of recent technology revolution – Artificial Intelligence (AI), the country is not like it used to be.On Thursday, the Founder and Chief Executive of SoftBank Group Corp Masayoshi Son said that Japan has become a third country or developing country regarding the development of AI, the most essential technology revolution in this era. This is contrary to the fact that Japan is always a leader in cutting-edge technology.
According to Son, the current situation happens due to Japan is lack of investment opportunities which cause the country moves slowly in the contest of Artificial Intelligence industry.
The SoftBank’s CEO and Founder said at a company event in Tokyo that the company wanted to invest in Japanese corporations however no unicorn AI firms currently in Japan.
SoftBank Group has invested $100 billion Vision Fund in startups outside Japan such as Oyo – India-based hotel operator and Grab – a raid-hailing company from Singapore. The investment is also to back Uber Technologies Inc and Didi Chuxing Technology Co – China-based ride-hailing company.
While Japan is left behind, the two biggest countries in the world China and India, as well as Southeast Asian countries, are moving forward to develop the technology. The AI technology helps firms in these countries to grow their business rapidly, Son added.
Son emphasized Japan have to face the new reality and catch up the lag.
Currently, Japanese tech companies investing in AI such as Rakuten Inc and Mercari Inc are recruiting foreign staffs particularly from India since the number of IT engineers in Japan is limited especially when English language ability is demanded.
Source: https://www.businesstimes.com.sg/technology/japan-has-become-developing-country-in-ai-race-softbank
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