Opinion, Tech

Shanghai Ranked Number One To Rival Silicon Valley In Next Four Years

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China and the U.S. are leading the charge as leading global technology centers, with Shanghai ranked number one to rival Silicon Valley as a technology innovation hub in the next four years, according to a recent annual survey by KPMG.

The strong showing for these two mega-powers is consistent with earlier KPMG surveys, with this year’s poll reflecting a slight uptick for China, 25% compared with 23% the prior year, whereas the U.S. sees a decline to 26% from 29%.

Around 43% of global respondents said that the technology innovation center of the world is likely or very likely to move from Silicon Valley to another country in the next four years, according to the survey, which inquired 841 technology industry executives globally, including 90 from China and 168 from the U.S.

Shanghai was selected by 26% of respondents as the city to rival Silicon Valle as a leading technology innovation hub, followed by New York, Tokyo, Beijing and London.

"What we have seen emerge over time is the result of countries and cities striving to replicate and build on the Silicon Valley tech innovation blueprint, and their increasing degree of success," said Tim Zanni, global and U.S. chair at KPMG Technology, Media and Telecommunications practice. "One can debate whether or not replicating Silicon Valley is possible, but the benefits of the effort are undeniable."

"Over the next year, the world will recognize how much artificial intelligence is going to transform everything we do. For example, the amount being invested in artificial intelligence in Asia is growing by the day. 2017 will be the year investors will look at AI and say, ‘if you’re not investing in it, you’re missing the boat’," adds Zanni.

In addition, Tesla and SpaceX CEO Elon Musk topped the list as the top global technology innovation visionary. Apple CEO Tim Cook was ranked second, followed by Alibaba executive chairman Jack Ma, Alphabet CEO Larry Page and Google CEO Sundar Pichai, who tied for third.

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