ESCP Europe professor Dr Terence Tse shares new insights
on the progress of AI.
The global AI race is moving faster than ever, with
countries competing to become number one.
However this rat race could cause disastrous
consequences for the world, according to new research from ESCP
It is understandable that individual countries want to gain the
upper hand and secure their spot in the data-oriented value chain
of the future. But to truly reap the benefits of AI while
mitigating its risks, governments and leading technology firms need
to start cooperating, experts warn.
"The share of digital services has risen so much so that
digitalisation now accounts for more than 60% of all trade.
According to the United States International Trade Commission, by
2025 half all of economic value is expected to be created in the
"Still, the true nature of the AI race remains to be seen. It
will not be restricted to any single area and the most important
factor determining outcomes will be how governments choose to
regulate and monitor AI, both domestically and internationally.
China, the US, and other participants not only have competing ideas
about data, privacy, and national sovereignty, but also different
visions of what the twenty-first-century international order should
look like - and this is concerning," says Professor Tse, who directs the Master in
Digital Transformation Management & Leadership at ESCP
In addition to the race between countries to establish a
competitive advantage, firms are also in competition to recruit AI
talent, leverage data advantages, and offer unique services. In
response to this, countries now have national AI strategies to
boost domestic talent and prepare for the future effects of
automation and labour markets. However, they are competing for a
limited pool of talent, especially when there will likely be an
increase in global demand for cyber security experts. It is
therefore crucial that AI developers, governments, businesses and
employees start coordinating on a global level to ensure that new
technologies are deployed safely and responsibly.
For more information or to speak to Professor Tse directly,
please contact Kate Mowbray at BlueSky PR on firstname.lastname@example.org or call +44 (0)1582 7979