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Komfie Manalo, Opalesque Asia: Artificial intelligence is the next big thing in finance and China "will be a podium finisher here if not the outright winner," claims Singapore-based fund management firm APS Asset Management.
In his latest note to investors, APS Asset Founder and CIO Wong Kok Hoi, said that China's recent rise has been led by champions in the areas of e-commerce, artificial intelligence (AI), and FinTech that stretch beyond household names such as Alibaba, Tencent, and Baidu. However, the trio to account for a quarter of China's AI talent today. China is already globally competitive in consumer electronics, mobile handsets, and telecom equipment.
Wong stated, "We believe that China's growth engine for this coming decade will be innovation in the high technology space, especially in artificial intelligence. China's national strategy is to combine it with the internet of things as well as big data, to modernize the economy, improve productivity and pull away from other countries. Powered by government policy support, an abundance of capital, a huge domestic market, a large pool of seasoned entrepreneurs, and the gigantic pool of STEM (science, technology, engineering and mathematics) graduates every year, China's odds of success are very high."
The hedge fund noted that for the first time, Chinese telco equipment manufacturers like Huawei are participating in the formulation of international 5G tr...................... To view our full article Click here
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