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Seoul earmarks $20 billion for R&D; WAIC 2019 day one coverage

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Good morning, A very light week on AI investment and deal news. Again, not much to report there and n
 
August 30 · Issue #62 · View online
Asia AI News
Good morning,
A very light week on AI investment and deal news. Again, not much to report there and not that much happening on non-AI tech deals in the region either, for that matter.
The big news is that South Korea’s government has proposed a record 513.5 trillion won ($423b) budget for 2020, 9.3% up on the 2019 main budget, nearly in line with a 9.5% increase in 2019, with an objective to provide fiscal stimulus as economic growth has slowed further this year.
As part of this, the Ministry of Science and ICT has proposed a 17.3 percent year-on-year increase in the national research and development budget for 2020 in an attempt to assure independence in critical technologies and stimulate the technology sector. Subject to parliamentary approval, the Ministry’s budget sets aside 24.1 trillion won ($19.8 billion) for R&D in fiscal 2020, up from 20.5 trillion won in 2019.
The ICT Ministry says that it will set aside 500 billion won ($410m) to lay the foundation for a society able to make good use of AI and 5G data networks and will inject some 1.7 trillion won ($1.4b) to support the growth of system chips, bio-health and ‘future automobiles’.
WAIC 2019 kicked off yesterday with the expected fanfare. A highlight of the morning’s opening ceremony and keynotes was the discussion between Alibaba chairman Jack Ma and Tesla CEO Elon Musk. However, not before a cringeworthy few minutes of mumbling and fumbling by the two tech titans: the Tesla CEO looking jet-lagged and Jack Ma temporarily caught at a loss for words. Once they got started, they were quite entertaining (although being entertaining on demand is, perhaps, not one of Elon’s strong suits).
Lots of WAIC coverage below including a few stories recapping the great Jack Ma and Elon Musk debate. Just ignore any media coverage about the two 'crossing swords’ and 'clashing’ in an 'intense debate’!
TGIF!
/Carrington

WAIC 2019
Latest AI tech goes on show at WAIC 2019 Latest AI tech goes on show at WAIC 2019
World Artificial Intelligence Conference opens in Shanghai
When Elon met Jack: musings on AI, Mars and the end of civilization
Alibaba’s Jack Ma sees AI opening a new human chapter while Tesla’s Musk still frets about machine control
The time a jet-lagged Musk made Alibaba’s Jack Ma sound grounded
National AI plans should encourage international collaboration: expert
AI needs global control, geopolitical spats must be overcome, Tencent's Pony Ma says
Baidu unveils Kunlun-powered cloud server at WAIC
Startup News
Pioneering AI tech firm, Talkpush, goes global with Hong Kong HQ
First Chinese AI startup hoping to list in Hong Kong faces significant risk: analysts
R&D
Science ICT ministry seeks 17.3-pct hike in national R&D budget for 2020
China-based TV maker banks on R&D of facial recognition, AI, IoT tech
ISB and Microsoft setup AI digital lab
US-China Trade War
Commentary: there is no longer any doubt the US is pursuing containment of China
China needs new push to become global AI leader
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