How Money Works on the US AI lobby gravy train, while China is overtaking the US in practical AI
A recent analysis suggests that the US AI industry is primarily functioning as a financial vehicle, enriching a select few through extensive lobbying efforts and public funding. This contrasts with China's approach, which is reportedly fostering a more practical and cost-effective AI ecosystem that benefits builders and industry. China's advancements in domestic chip production and an open AI environment are enabling it to gain ground on the US, while the US response appears to be increased lobbying fueled by geopolitical concerns rather than addressing systemic issues. AI
IMPACT Critiques the financialization of AI development, suggesting a shift in focus from practical application to value extraction.