China, a hotbed for ‘AI’ investors

Bloomberg

To see the future of artificial intelligence, look East, said venture capitalist Jim Breyer.
“China right now represents about half of the most interesting AI investment opportunities in the world,” Breyer said at the CNBC Institutional Investor Delivering Alpha conference in New York.
Breyer’s bullishness about China stems from the accelerated deployment of internet technologies in urban and rural areas as well as government initiatives enabling AI startups to flourish. Tech giants like Tencent Holdings Ltd., Baidu Inc., Alibaba Group Holding Ltd. and JD.com Inc. are quickly integrating self-learning technologies and snapping up AI talent at an “astonishing” rate,
he added. “When I think what are the great opportunities where we can generate tremendous value, it is in Chinese deep technology companies that are focused on the Chinese market,” said Breyer, founder of Breyer Capital.
“It’s like an NFL quarterback draft, where the very best AI students, post-docs, and professors from around the world are commanding NFL quarterback-like salaries and compensation,”
he said.
Breyer Capital, which also does
private equity, focuses on social media, AI, entertainment, media, digital
health, data analytics and financial technology investments.