Published on: 2026-05-20
Source: People’s Republic of China in Russian –
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Chengdu, May 20 /Xinhua/ — Nobel laureate in economics Michael Spence welcomed China’s emphasis on the application of technology and artificial intelligence /AI/ in the economy, noting that, in his opinion, not all countries can achieve this.
Long-term AI progress depends not only on research involving high-class models but also on industrial applications, he said in an interview with correspondent Informagenstva Xin Hua during the Global Financial Forum in Qinghua PBCSF-2026, held on May 18-19 in Chengdu / Sichuan Province, Southwest China /. The scientist drew attention to China’s 15th Five-Year Plan (2026-2030), which includes discussions about AI and other advanced technologies.
“China is currently actively developing artificial intelligence and other advanced technologies within the framework of its 15th five-year plan,” M. Spence indicated, adding that the future of AI depends on real industrial application, and China has already managed to implement it in many sectors.
The Nobel laureate expressed the opinion that the two leading powers in the field of AI, China and the USA, will stimulate the development of AI in the coming years, thereby creating enormous opportunities for the rest of the world.
Speaking about the possible impact of AI on employment, M. Spence does not rule out that some traditional jobs will be “displaced by automation,” while in certain industries, wages and demand will grow due to increased efficiency and productivity. He added that the era of artificial intelligence requires better interaction between humans and machines.
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