FILE PHOTO: a japanese SoftBank Group, Corp Chief Executive Masayoshi Son attends a news conference in Tokyo, Japan, on November 5, 2018. REUTERS/Kim Kyung-Hoon/File Photo
TOKYO (Reuters) – SoftBank Group Corp (9984.T), is the founder and Chief Executive Masayoshi Son said on Thursday that there has been a lack of investment in Japan, which, he said, is that it’s lagging behind in the race to develop an artificial intelligence (AI).
“Until recently, it was made in Japan at the technological leading edge. In the most current technological revolution is artificial intelligence, which in Japan is a developing country,” Son said at an annual they turned the event to customers and vendors.
While SoftBank’s $100 billion China-backed Vision foundation has poured tens of billions of dollars in a late-stage tech start-ups around the world, has been overlooked in Japan, to the advantage of countries such as the United States of america, China, japan and India.
Unfortunately, there are virtually no companies that could be referred to as the global Number 1 in unicorns,” the Son said, Japan, with start-ups to $1 billion valuation.
Report by Sam Nussey; Editing by Christopher Cushing