Business leaders at the World Economic Forum in Davos last month warned that China has overtaken the United States in the development of artificial intelligence and other emerging technologies, such as fifth-generation wireless or 5G. “There's almost an endless stream of people who are showing up and developing new companies,” Blackstone's CEO Stephen Schwarzman told one panel of his frequent trips to China. “The venture business there in AI-oriented companies is really exploding with growth.”
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