America 2.0 Will Rely Heavily on Artificial Intelligence, Say Mark Cuban and Steve Bannon

Business in America is going to look very different after the coronavirus has faded, according to billionaire Mark Cuban in an interview this week on the War Room podcast created by Steve Bannon, Raheem Kassam, and Jason Miller. (Mediate.com)

Cuban, the Shark Tank star and Dallas Mavericks owner, said that he believes America 1.0 is gone. The country is going through a reset right now, and America 2.0 is going to emerge soon. That is where the entrepreneurial spirit needs to come into play.

Cuban believes big corporations are not going to hire the same way, and they are not going to keep employees the same way. Small companies will need to adjust considerably. There is going to be more online purchasing, he said, and overall America 2.0 will look different than America 1.0.

How Will Industries Evolve in America After the Coronavirus?

Bannon, a former White House advisor to President Trump asked Cuban how companies could evolve in America after the virus has passed. Bannon said that one’s brand, as Cuban tells it, will be associated with how well you comported and handled yourself with your workers, and this will last for years.

There will be companies that will be constructed during this and after this period that will last for years. Bannon then asked Cuban where he thinks these companies will be built.

Cuban believes artificial intelligence, robotics, and personalized medicine will be incredibly valuable. The Mavericks owner said he strongly believes in American exceptionalism. He wants this country to dominate every aspect of business life around the world.

He wants to treat the American people like family, but be a solid global citizen and ‘kick everyone’s ass.’ but to do that and bring back the millions of lost jobs during the virus, it will be necessary to have AI and other high-advanced technologies working for us.

Other Countries Lead Us in Technology, Cuban Argues

He noted that America is not the best in robotics today. Japan, China, and German are better than we are. For the US to get manufacturing back from East Asia, we have to get better at developing and using robotics.

Bannon briefly ran Trump’s 2016 presidential campaign and worked as a White House counselor for six months. He said Cuban is an entrepreneurial populist, although a ‘big government’ one.

Bannon said that Mark being an entrepreneurial populist can help the country to gear up its technology especially in AI and get America to the America 2.0 that he is discussing.

But Who Is Really Winning the AI Battle Between America and China?

Cuban alludes to China’s superiority over the US in artificial intelligence, but some say it is not as simple as that. (EETimes.com)

In the United States, China is believed to be building a significant technological lead in AI. But that belief is challenged by a recently published study on the AI chips China uses, which was written by economist Dieter Ernst. The 70-page report – titled ‘Competing in Artificial Intelligence Chips: China’s Challenge Amid Technology War – provides several answers about where China is in the AI battle with the US.

In the report, Ernst states that fears about China credibility threatening America’s leadership are not truly grounded in reality. Some of the key findings in the report regarding China’s technological capabilities:

  • China’s artificial intelligence industry is young and fractured.
  • China’s AI activities are mostly driven by the growth of AI apps.
  • Major players in the AI ecosystem in China are more interested in wheeling and dealing and are obsessed with AI chip unicorns.
  • China is late to the game with research and development in AI. The US began 60 years ago and was focused at the start on fundamental breakthrough research. On the other hand, China’s AI work did not start until the 1980s.
  • After 2000, funding and policies given by the Ministry of Science and Technology and local governments were successful, which resulted in the larger role of Chinese AI researchers in top AI conferences and journals.

Also, a common narrative in the US is that China’s top-down monolithic innovation policy has led to its economic success. The report argues this is a myth.

The complex nature between the state, the party, state-owned companies, private companies, financial institutions, and others are not helping China to accelerate their artificial intelligence development. Rather, it is being held back by the fragmented Chinese innovation system.

A key to China’s success in AI is its huge population of low-cost college graduates who will work hard, long hours to categorize massive troves of data that are needed to train AI algorithms. China may use this large data treasure trove to get ahead in the market for cheaper AI applications.

One of the most important messages that Ernst reports is that his research finds that US technology restrictions force China to bolster basic and applied AI research to catch up on core, foundational technologies.