What Countries Bet On These Technologies
As the popularity increases of wearable gadgets, machine learning algorithms and personal assistants that handle our most dreaded tasks, investors worldwide are seizing opportunities to put their money into technologies that promise to change our lives. A worldwide comparison using the most recent available data put together by McKinsey Global Institute and incorporated into a new global report on innovation by the Atlantic Council reveals that the U.S. leads in venture capital investment in eight of nine technology categories, followed closely by China and countries such as Japan, the United Kingdom and Germany.
Fintech
From trading software to cryptocurrencies, financial technology — also known as fintech — has been giving investors more options to make the most of their money. According to the McKinsey 2017 global comparison, China had invested more than $7 billion in fintech, followed by U.S. venture capitalist investors, who’d put in $5.4 billion. Also in the top five were the U.K. — with about $1.8 billion invested in financial technology — and Germany with $668 million. Japan ranked fifth, with $493 million invested.
Virtual Reality
Virtual reality has been one of the most talked about technologies ever since companies such as Facebook, HTC and Samsung massively invested in portable devices to make it accessible for all. Data show that the U.S. led the top five with venture capital investments of more than $1.4 billion in the field in 2016. China followed closely with $1.3 billion. Far behind was Japan with only $166 million invested in VR. The United Kingdom put in $73 million, while France closed the top five with $20 million.
Autonomous Driving
There is still much regulatory uncertainty around driverless cars, but one thing is for sure: autonomous driving is a technology that’s luring investors in multiple countries. The leader in this field is still the United States, with $582 million invested in 2016, followed by China with more than $350 million invested. Japan was third with $268 million, Australia ranked fourth with $264 million and the United Kingdom came in fifth, investing only $142 million.
Wearables
The United States is the leader in wearable technologies, reporting $1.7 billion in venture capital investment in this category in 2016, according to available data. Devices that people wear at the gym, at work or at home and that often accompany larger gadgets also drew interest from Chinese investors, who put in $992 million. Germany followed with $170 million, while venture capitalists in Canada set aside only $134 million. Finishing fifth came the United Kingdom, with $95 million worth of investment in wearables.
Education Technology
As education is slowly transitioning to the digital realm, investments in this area also have begun to look appealing to venture capitalists. Americans are the most excited about it, according to the McKinsey data, spending around $1.3 billion in 2016. China followed with approximately half that amount, putting in $681 million. Next came Japan with $217 million and the United Kingdom with $163 million. India rounded out the top five with $145 million invested.
Robotics and Drones
Robots and drones have fueled a conversation about autonomous weapons and other deadly machines, being used in products ranging from the toy industry to the military. Yet investors seem to believe this technology is here to stay and in the U.S., the level of investment is highest. Venture capitalists in America spent $728 million on drones and robotics, far ahead of China, which was No. 2 on the list with only $227 million. Japan followed with $129 million invested, while Singapore and Canada closed the top five with $96 million and $59 million spent by venture capitalists, respectively.
3D Printing
These days, people can print anything — from clothing to vital organs — and 3D printing is another important tech category that businesspeople like to bet on. The United States was again in the lead with more than $600 million invested in 2016. China followed with $221 million. Germany finished third, spending $182 million — just $1 million more than No. 4 Japan and No. 5 Russia.
Big Data
Everything includes data. Learning how to harness and deploy that information can create advances in myriad technological fields. Investment in this field was as big as the data, with the U.S. again topping the five most interested countries. America invested a whopping $6 billion in this category, followed by the U.K. with $1.6 billion. China finished third with $942 million, while Singapore and Russia spent $651 and $554 million, respectively.
AI and Machine Learning
No surprise here: There is a global AI race going on, and the U.S. is at the top. According to the McKinsey data, the U.S. in 2016 invested about $3.8 billion in this category. British venture capitalists came second with $1.2 billion, while the Chinese put in only $900 million. Japan invested a little below $500 million, while Australia ranked last with $329 million worth of investment.
Want to Know More?
The 2018 U.S. News Best Countries rankings, formed in partnership with Y&R’s BAV Group and The Wharton School of the University of Pennsylvania, aim to gauge global perceptions of the world’s largest economies.
Find out how your country did, and explore more news, data and analysis on U.S. News.
More from U.S. News
Artificial Intelligence Poses New Issues for Countries’ Militaries
The Potential Winners of the Global Artificial Intelligence Race
Blockchain Technology Offers Hope and Hype for Industries Around the World
These Are The Technologies That Countries Invest In originally appeared on usnews.com
