Fox Business contributor Jonathan Hoenig said he is not concerned about China’s position in the artificial intelligence race, arguing that the United States will maintain its lead if it adopts a more hands-off approach to regulation.
“Let me jump in here for a moment. I’m not worried about China. Maybe that sounds crazy, but look at the Chinese stock market — it is trading about where it was in 2006.
It may sound surprising, but the more authoritarian and top-down China’s economy has become, the worse it has performed. That is what has allowed the U.S. to maintain its dominance in the AI world.
Imagine if the government had told the Wright brothers back in 1904: ‘We need a government monopoly over the world of flight.’ No — what is needed here is a hands-off approach.
That is what will allow the U.S. AI sector to flourish. America has a real opportunity to strengthen its leadership if the government stays out of the way and lets America be great again through a laissez-faire approach to AI dominance,” he stressed.
