The United States will have to share global leadership in AI with China in five years as the gap between both countries narrows, according to a new global study conducted among institutional investors and wealth managers handling $513 billion in assets by fund manager Robocap. The study, conducted among senior executives at insurance asset managers, pension funds, family offices, and wealth managers, revealed that 56% believe the U.S. and China will be joint leaders in the global AI race, while only a third expect the U.S. to maintain its current market leadership position. Barely 2% believe China will surpass the United States.
As detailed by the manager in a statement, China already leads the AI race in specific areas such as patent volume, research talent generation, and some physical applications of AI in robotics. However, the U.S. is widely considered the leader due to its dominance in private investment, high-end semiconductor design, and the world’s most powerful frontier models.
Interestingly, the study by Robocap—a firm dedicated to investing in robotics, automation, and AI—found that around one in twelve respondents (8%) believe another country or group of countries could surpass both the United States and China.
Almost all (99%) expect the value of the AI market in the UK—currently the third largest by value—to increase over the next five years, according to the study conducted among firms based in the UK, U.S., UAE, Saudi Arabia, Singapore, Hong Kong, Germany, and Switzerland. About 28% foresee a dramatic increase.
Furthermore, all expect the United Arab Emirates and Saudi Arabia to succeed in their goals of becoming global AI hubs for research and data centers over the next five years. Approximately 60% believe they will be very successful.
However, all agree that AI regulation in the UK and the European Union is too strict and, as a result, has limited creativity and innovation, including 30% who strongly agree with this statement. Virtually all (96%) believe they are following the right energy policy to meet their ESG (environmental, social, and governance) goals and AI ambitions.
Nonetheless, a majority (60%) believe that energy policy should prioritize AI sovereignty, compared to 40% who believe the focus should be on limiting energy production.
