China Is a Hotbed of AI Opportunities

EghtesadOnline: To see the future of artificial intelligence, look East, said venture capitalist Jim Breyer. “China right now represents about half of the most interesting AI investment opportunities in the world,” Breyer said at the CNBC Institutional Investor Delivering Alpha conference in New York.

News ID: ۷۴۳۷۵۶

13 September 2017

Breyer’s bullishness about China stems from the accelerated deployment of internet technologies in urban and rural areas as well as government initiatives enabling AI startups to flourish. Tech giants like Tencent Holdings Ltd., Baidu Inc., Alibaba Group Holding Ltd. and JD.com Inc. are quickly integrating self-learning technologies and snapping up AI talent at an “astonishing” rate, he added.

“When I think what are the great opportunities where we can generate tremendous value, it is in Chinese deep technology companies that are focused on the Chinese market,” said Breyer, founder of Breyer Capital.

“It’s like an NFL quarterback draft, where the very best AI students, post-docs, and professors from around the world are commanding NFL quarterback-like salaries and compensation,” Bloomberg quoted him as saying.

Breyer Capital, which also does private equity, focuses on social media, AI, entertainment, media, digital health, data analytics and financial technology investments. Jim Breyer led Facebook Inc.’s first institutional venture capital round in April 2005. He is also an investor in media company Legendary Entertainment. Breyer founded his investment firm in 2006.