Thu, Jul 18, 2019 - 12:48 PM
"Until recently Japan was at the technological leading edge. In the most important current technology revolution – artificial intelligence – Japan has become a developing country," Mr Son said at an annual SoftBank event for suppliers and customers. "Unfortunately there are virtually no companies that can be called global number one unicorns," Mr Son said of Japan, referring to startups reaching US$1 billion valuations.Mr Son asked the assembled corporate attendees in Tokyo to raise their hands if their companies have employed 1,000 AI engineers, with none doing so.
Innovation in artificial intelligence has become how Mr Son defines the Vision Fund's investment thesis, whose bets on 82 companies span sectors including ride-hailing, fintech and healthcare.Underscoring the contrast with his home country, where technology innovation remains dominated by long-established companies, Mr Son brought on stage self-made entrepreneurs from SoftBank portfolio companies.
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