Ray Dalio Says China Is 'Way Ahead' In AI And Robotics: US Lags in Mass Production

Hedge fund manager and billionaire investor Ray Dalio reiterated his stance on China’s dominance in the application and usage of artificial intelligence technology.

What Happened: The founder of Bridgewater Associates, Dalio, while speaking at a CNBC event, Converge Live in Singapore, highlighted how the United States was “uniquely competitive” in inventing, and particularly inventing the best chips in the world.

However, he said that the U.S. was uncompetitive in mass producing them. “China is behind but not by a lot in the best chips,” he said, adding that the Asian country was ahead in producing more chips and having those chips working together in applications.

“They are ahead on the applications, and they are ...