Japan 'underdeveloped' in use of AI technology, says SoftBank's Masayoshi Son

SoftBank Group Corp. Chairman and CEO Masayoshi Son said Thursday that Japan has become an "underdeveloped" country in the use of artificial intelligence in businesses, lagging behind China, India and Southeast Asian countries that have fast-growing technology companies. "Japan once was a leader in technology but has become an underdeveloped country in AI. It is in a pretty bad situation so Japan needs to awaken," Son told an audience at a company event in Tokyo. Among the audience were Ritesh Agarwal, CEO of Indian hotel operator Oyo Hotels & Homes, and Anthony Tan, CEO of ride-hailing company Grab Holdings Inc. of Singapore. Oyo and Grab are among over 80 AI startups in which SoftBank Group's $100 billion Vision Fund has invested.