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For the U.S. economy to remain on top, companies need to throw more money behind various innovations like artificial intelligence, according to billionaire businessman Mark Cuban.
In an interview with CNBC on Thursday, Cuban said “investing [in AI] is critical. There’s no question about it.”
“Our military dominance, our place in the world — depends on our ability to invest in artificial intelligence,” Cuban said on CNBC’s (CMCSA) Squawk Box.
“We need to do more, we cannot lose that battle or we lose everything,” Cuban added, saying that investing in AI will be a factor that “defines our currency, defines how we compete in the world.”
Cuban also touched on industrial policies that Democratic presidential candidate Kamala Harris has spoken about on her campaign trail, like making a promise to voters that she plans to invest billions of dollars into various industries, including AI.
When it comes to semiconductor chips, Cuban, who has been largely vocal about his support for Harris, said that her campaign is “interested” in learning about AI and cryptocurrency. Regarding semiconductor chips, he added that Harris and the Republican presidential candidate Donald Trump share two different ideologies about AI chips.
“Donald Trump is trying to come in with a hammer and say ‘you’re the nail, I’m going to hit you with a 200% tariff,’” Cuban said, but added that Harris wants to “give incentives” to companies to manufacture more chips.
