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US share of global AI VC grows; KT to invest 300m won in AI

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Good morning, As I've mentioned before, the absence of AI venture capital deals being reported post-s
 
October 31 · Issue #113 · View online
Asia AI News
Good morning,
As I’ve mentioned before, the absence of AI venture capital deals being reported post-summer is quite striking.
Now, according to New York headquartered ABI Research, the gap between the level of AI VC investment in the U.S. and that in China could widen significantly during 2019, with the U.S. potentially accounting for 70 percent of capital invested globally.
Meanwhile, Singapore government-owned venture capital firm SGInnovate has disclosed that it has invested S$40 million in 70 local and foreign deep-tech start-ups since November 2017, 40 percent of which are AI companies.
And , following President Moon Jae-in’s announcement this week that South Korea’s national AI strategy should be ready by the year-end, the country’s largest telecom company KT has announced that it will invest 300 billion won ($257 million) over the next four years to transform the corporation into an ‘AI company’.
Finally, in an unexpected turn of events for the US-China trade deal 'phase one’, President Trump and President Xi are no longer planning to meet in Chile next month to sign the deal.!The president of Chile cancelled the Asia Pacific Economic Cooperation (APEC) Summit planned to take place in Santiago in November due to a week of protests. In response, China has reportedly extended an invitation to Trump to travel to Macau to sign the trade deal as an alternative.
/Carrington

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