The US is losing to China in the AI race

During his talk at a tech summit organized by the Center for a New American Security (CNAS) on Wednesday, former Google CEO Eric Schmidt told his audience that it won't be long before China overtakes the United States in the development of advanced artificial intelligence (AI), according to a report by The Verge. Schmidt, who's now the executive chairman of Google's parent company Alphabet, said that while the U.S. would maintain its leading place in the next five years, China will be able to catch up "extremely quickly."