One of Japan's top businessmen says his 90-billion U.S. dollar venture fund is not investing in a single Japanese company because of Japan's weakness in the field of Artificial Intelligence. That's Son Jeong-ui, also known as Masayoshi Son, who is of Korean descent and heads the conglomerate SoftBank. According to Japanese broadcaster NHK, Son said in a lecture in Tokyo that in terms of AI, Japan is underdeveloped. He characterized it as a crisis. SoftBank's Vision Fund, he said, has invested in 75 unicorn firms around the world, but not a single one in its own backyard. Countries in Southeast Asia, on the other hand, have been able to establish AI-related business models successfully.
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