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.