Since the end of World War II, the United States has been an undisputed global leader in innovation. From putting a man on the moon to the “Traitorous Eight” of Fairchild and the birth of today’s Silicon Valley, the U.S. has been at the forefront of embracing emerging technology. This position has given the country a strategic advantage in dictating how technology is adopted and setting the basic standards for its use. However, as we enter the new decade, the U.S. is at risk of losing its place as the leading innovator to Asia, impacting our technological future significantly.
The largest competitor to the American innovation hegemony is China. Over the past few years, China has heavily focused on developing emerging technologies such as blockchain and AI. WhilePwC survey respondents viewed the U.S. as the most advanced territory developing blockchain today, they believe that in the next three to five years, the leader will be China.
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