China, South Korea are starting to dominate artificial intelligence (AI)

Artificial intelligence (AI) has already been identified as a crucial technology front, as nations and companies jockey to gain the edge in developing AI-driven applications. The potential impact of AI cannot be understated in today's business, with AI being considered a force multiplier because of its capacity to amplify company resources and to maximize output. Technology powerhouses are well aware of the ability of AI to transform businesses in a variety of ways, which explains why so much money is being poured into AI startups. Spend on AI systems is expected to top US$77.6 billion in 2022, according to one IDC report, while another commissioned by Microsoft illustrated that AI will almost double the rate of innovation and workforce productivity in the Asia Pacific (APAC) region in the next three years. With plenty of innovation being driven by AI, protecting these artificial intelligence inventions becomes crucial as well. And not just by organizations – the US government has pledged to boost spending on AI next year by as much as US$1.5 billion, with US' chief technology officer, Michael Kratsios, implicitly stating that the Trump administration had taken "unprecedented action to prioritize American leadership in AI […]" as the technology is increasingly seen as having strategic implications for the innovation leaders.