""We're chaotic, confusing, loud, you know, but we're clever," Schmidt said in a discussion posted Thursday on the "All-In Podcast" YouTube channel. "We allocate capital smartly. We have very deep financial markets. We have this enormous industrial base of universities and entrepreneurs," he added. Schmidt, who took over as Google's CEO in the midst of the dot-com bubble burst, said Europe and Asia are "envious" of the US system and urged America to embrace its strengths."
"He warned that China's embrace of open-weight AI models could give its systems more global reach, likening the strategy to a new "Belt and Road" for technology. "I'd much rather have the proliferation of large language models and that learning be done based on Western values," Schmidt said. While the US pursues artificial general intelligence, it also needs to compete with the Chinese in "day-to-day stuff," he added."
America's noisy, unpredictable innovation ecosystem of venture capital, universities, entrepreneurs, and deep financial markets creates a powerful industrial base and allocates capital effectively. That chaotic system accelerates technological progress and should be celebrated, stoked, and sped up to maintain competitive advantage. China combines strong work ethic and focus on consumer apps, and its embrace of open-weight AI models could extend its systems' global reach akin to a technological Belt and Road. Proliferation of large language models driven by Western values is preferable. The United States must pursue artificial general intelligence while also competing with China on practical, day-to-day AI applications.
Read at Business Insider
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