Latest news with #JackWang
The Star
15 hours ago
- Business
- The Star
China's orchard of AI, chip grads now ripe for the pickin' as tech trade sours
When Jack Wang enrolled as an undergraduate in microelectronics at a prestigious Chinese university, the year was 2019, and China was in the early days of its trade war with the United States. Looking back, his decision to focus on the field revolving around the design and manufacture of hi-tech microchips has proved prescient. Today, it complements Beijing's aspirations to make world-leading semiconductors amid Washington's amped-up efforts to curtail China's technological progress. Indeed, the sector has grown by leaps and bounds in the six years since Wang laid out his focus of study, and it now serves as the backbone for artificial intelligence (AI) advancements. 'I realised that this industry was booming, and AI had been kind of popular back then – it just wasn't as capable as it is today,' he said. 2019 was also the year that China's Ministry of Education approved the first batch of AI majors at 35 universities, following an action plan in 2018 that sought to turn Chinese universities into global talent hubs leading the development of next-generation AI by 2030. Today, more than 535 universities in China offer AI-related majors, and nearly half of the world's top AI researchers are from the country, according to recent findings by Morgan Stanley. That massive pool of AI talent, in a nation of 1.4 billion people, is giving China a competitive edge in the field that has become a defining battleground in global technological and geopolitical competition, researchers and industry professionals say. But in many respects, they note, China is still seen as lagging behind the US. They point to less industry-academic collaboration, weaker conversion of research into impactful technologies, and a lower risk tolerance among investors. Having been pursuing postgraduate studies in the same field at the same university, Wang is expected to graduate and join China's growing army of AI workers next year. 'Since I entered university, many universities have started their own microelectronics and integrated circuit programmes and expanded their admissions,' he said, noting how this translates into more graduates each year. According to annual reports by the Chinese Ministry of Education, AI undergraduate programmes in Chinese universities have been on a developmental 'fast track' in recent years. In 2020, AI was the most added undergraduate major. Though growth has since slowed, it still ranks among the top newly approved majors. The biggest AI innovations have occurred in the past five years and likely will continue in the next five, when China's abundance of talent will give it exceptional strength, said Zhang Yaqin, head of the Institute of AI Industry Research under Tsinghua University, a world-leading research and education institution in this field. 'China's greatest advantage [in AI] is its talent pool. Young people majoring in AI are emerging at a rate of about five times that of the US, including those from Tsinghua University,' he said during a sci-tech conference in Beijing last month. Ren Zhengfei, founder of Chinese tech giant Huawei Technologies, also sees the large number of young people as China's top advantage in AI development. 'China has hundreds of millions of adolescents, who are the future of our nation,' he was quoted as saying by the People's Daily on Tuesday when asked about the industry's prospects. The number of AI talent reserves in China exceeded 700,000 as of 2024, a year-on-year increase of 25%, according to a report by AI education service provider Beijing Uniwise Technology last year. In 2022, 28% of top AI researchers were working in China, up from only 11% in 2019, according to data from MacroPolo, a think tank of the Chicago-based Paulson Institute. This has mainly been driven by China's vast application scenarios, particularly those close to practical use, said Gu Ning, deputy president of Beijing-based AI start-up Doodod. 'AI is just part of China's tech rise, where it is already exporting technologies and business models, which we can see in the cases of TikTok and Temu,' he said, adding that it 'is creating a favourable environment for professionals'. Job postings for algorithm engineers and machine-learning roles in China were respectively up by 44% and 18%, year on year, during the first quarter of 2025, according to data from Zhaopin, a major Chinese jobs platform. Tech giant Xiaomi is expanding its 20,000-person research and development team to somewhere between 50,000 and 100,000 in the future, founder and CEO Lei Jun said earlier. China's efforts to cultivate AI talent date back to 2018, when the education ministry rolled out an ambitious action plan to guide higher-education institutions to target the global forefront of science and technology and provide strategic support for the development of China's new generation of AI. The large number of graduates from China in related areas produced over the years has been helping to form AI workforces across the Pacific. In 2022, 38% of top-tier AI researchers working in US institutions were of Chinese origin, based on their undergraduate degrees, surpassing the 37% of American origin, according to MacroPolo. 'It now seems that the competition in the entire AI industry is between Chinese people in China and Chinese people in the US,' said Cao Changdan, co-founder of another AI start-up in Beijing. Many Chinese trained or employed in the US have chosen to return home as China represents more opportunity for career advancement, while there is an 'invisible ceiling' for Chinese working in American companies, she said, referring to a prevailing salary cap for them. President Donald Trump is making the environment more difficult as he tightened visa controls on Chinese students and restricted top universities' ability to admit international students in recent weeks. The US-China trade war and unfriendly policies beyond trade have made more entrepreneurs focus on the domestic market, Cao said. In 2023, her company launched a companion robot that was mainly sold overseas, but has now shifted to products targeting domestic users, such as a new AI tool that gives advice to China's university entrance exam takers in their school applications. Despite China's quick catch-up in cultivating and absorbing AI specialists, the US remains attractive partly thanks to its substantial investment in AI research, which tends to be longer-term and has a greater tolerance for mistakes than things are in China, she said. 'Many investments in China come from state-owned capital, which carries the risk of state asset loss, leading to greater caution. As a result, Chinese companies face greater difficulty in securing funding for technological innovation,' she said. Though China now ranks No 1 globally in AI patents and technology clusters, according to the Morgan Stanley report published last month, a robust ecosystem of leading tech companies in the US is also adding to its attractiveness. 'Despite the similar number of research publications in 2023, one of the major factors maintaining the US' leadership in AI industry-driven research is the active involvement of private-sector firms in AI research, which allows for rapid conversion of high-quality research into impactive technologies and applications,' the report said. In contrast, in China, all of the top 10 institutions in AI research are academic institutions, it said. Gu from Doodod believed that developing a mix of academic organisations and private-sector firms is the long-term path to success for China. 'Only content that is genuinely forged through market competition represents the true direction of innovation,' he said. 'AI applications must be profitable to create a virtuous cycle in the industry.' China also needs to reform the evaluation and management of scientific research if it wants to retain more tech talent, urged Chu Zhaohui, a senior researcher at the state-backed China National Academy of Educational Sciences think tank in Beijing. 'The current evaluation system does not encourage creativity but is bureaucratic and seniority-based, with the most prominent issues being its focus on papers and projects, whereas other countries may prioritise outcomes,' he noted. Wang, the microelectronics students, however, is determined to stay in his motherland after graduation. And while many young job-hunters face a bleak labour market due to China's economic slowdown and surplus of graduates, Wang said he believed it would not be hard for him to secure a job, thanks to his speciality. 'My education was all in China, and other countries except the US do not hire many graduates of the microelectronics major,' he said. 'Also, because of Trump's unfriendly policies on foreign students and immigrants, working overseas is not an option for me.' – South China Morning Post
South China Morning Post
2 days ago
- Business
- South China Morning Post
China's orchard of AI, chip grads now ripe for the pickin' as tech trade sours
When Jack Wang enrolled as an undergraduate in microelectronics at a prestigious Chinese university, the year was 2019, and China was in the early days of its trade war with the United States. Advertisement Looking back, his decision to focus on the field revolving around the design and manufacture of hi-tech microchips has proved prescient. Today, it complements Beijing's aspirations to make world-leading semiconductors amid Washington's amped-up efforts to curtail China's technological progress. Indeed, the sector has grown by leaps and bounds in the six years since Wang laid out his focus of study, and it now serves as the backbone for artificial intelligence (AI) advancements. 'I realised that this industry was booming, and AI had been kind of popular back then – it just wasn't as capable as it is today,' he said. 2019 was also the year that China's Ministry of Education approved the first batch of AI majors at 35 universities, following an action plan in 2018 that sought to turn Chinese universities into global talent hubs leading the development of next-generation AI by 2030. Advertisement Today, more than 535 universities in China offer AI-related majors, and nearly half of the world's top AI researchers are from the country, according to recent findings by Morgan Stanley. That massive pool of AI talent, in a nation of 1.4 billion people, is giving China a competitive edge in the field that has become a defining battleground in global technological and geopolitical competition, researchers and industry professionals say.
The Province
13-05-2025
- Entertainment
- The Province
Second World War novel highlights 1st Canadian Parachute Battalion and Vancouver shipyards
The Riveter offers up cross-cultural love story and a reminder that human rights are not to be taken for granted Author Jack Wang's debut novel The Riveter is a cross-cultural love story that begins in the shipbuilding yards of early 1940s Vancouver and then travels to the European Theatre of the Second World War. Photo: Holman Wang. Photo by Holman Wang / Holman Wang Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. Jack Wang's debut novel The Riveter may be set during the Second World War, but several of its themes ring true today. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors A cross-cultural love story set in Vancouver and on European battlefields in the early 1940s, the story focuses on Chinese-Canadian Josiah Chang, a riveter working on Victory ships in a Vancouver shipyard, and office worker Poppy Miller, a jitney-driving singer with an independent streak as wide as the Burrard Inlet. They meet at the shipyard and fall in love. But the story is complicated by her father's disapproval and a law that says if Poppy marries Josiah, she has to give up her citizenship. The couple is separated after an incident at the shipyard sends Josiah into a life-changing rage. Having to flee, he heads east and manages to enlist and make his way into the 1st Canadian Parachute Battalion. Formed in 1942, the unit engaged in key operations in the European theatre, playing a crucial role in the Allied invasion of Normandy during D-Day on June 6, 1944, and took part in the Battle of the Bulge. Essential reading for hockey fans who eat, sleep, Canucks, repeat. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'I would love to think this is a novel for a time. On the one hand, it does dramatize the ways in which Canada has been an imperfect nation, like any nation. But at the same time, it also dramatizes, I think, our courageous spirit, our fighting spirit, the ways we sacrificed in the fight against fascism,' said Vancouver native Wang recently from Ithaca, N.Y., where he is a professor in the writing department at Ithaca College. 'It reminds us of how we forged our identity as a nation, which was largely through two world wars.' The Riveter by Jack Wang. Photo by Courtesy of House of Anansi / Courtesy of House of Anansi Wang's historically accurate story takes readers through paratrooper training in the U.S. and Britain, then right into the thick of the European war. 'A lot of Canadians aren't familiar with the 1st Canadian Parachute Battalion. For example, many Americans know about Easy Company from Band of Brothers, but I don't know that all Canadians know that we had a famed parachute battalion of our own,' said Wang. 'I would love to think that this is a novel that can remind people of the sacrifices our country has made and remind us of who we are as a nation.' This advertisement has not loaded yet, but your article continues below. One member of that famed unit, Richard Mar, a Chinese-Canadian private from Vancouver, was a key figure in propelling Wang forward with this story. 'There was a brief write-up about Richard Mar in a book called The Dragon And The Maple Leaf by Marjorie Wong,' said Wang adding that Josiah, who was a tree faller before becoming a riveter and a paratrooper, was inspired by the cartoon character Johnny Canuck. 'It's just a few brief paragraphs, but it describes how he served in the Ardennes and how he jumped into Germany. That really sort of was the first germ for the story. The idea of a Chinese-Canadian as a paratrooper.' While Josiah's struggles are real, and racism is around every corner, Poppy is also in a battle for independence and a life free from the expected norms of woman in the early part of the 20th century. 'Poppy is very much ahead of her time. Her desire for sexual freedom is a little ahead of her time, and they're both outsiders in society for different reasons,' said Wang. 'I think that's part of what allows them to connect and to understand each other better than they would have otherwise.' This advertisement has not loaded yet, but your article continues below. While the story lives in the past, Wang's view is very much a reminder that personal freedoms are always in the line of fire and should never be taken for granted. 'I don't want to give too much away, but I will say that, you know, a lot of what I was writing into ultimately was affected by events here in the U.S., including the Dobbs decision,' said Wang referencing the U.S. Supreme Court ruling that ended the federal protection for abortion access that had been in place since Roe v. Wade in 1973. 'For me, the novel is very much a response to the taking away of freedoms that feels like it is happening all around me at the moment. So, I'm running very much against the current tide of what's going on in the world.' The historical part of this work of fiction is meticulous and fascinating. Whether Josiah is riveting a metal plate to 450-foot cargo ships, dancing at the Commodore Ballroom with Poppy, or digging trenches in European dirt, the reader is offered precise pictures of the past. This advertisement has not loaded yet, but your article continues below. 'I read a lot of books,' said Wang whose previously published works include the award-winning short story collection We Two Alone, and the popular children's board book series Cozy Classics, which he created with his brother Holman Wang. One of those books was Boys Of The Clouds by Gary C. Boegel, which offered first-hand oral history from the actual 1st Canadian Parachute Battalion. 'It really gives you a sense of the texture of the day-to-day experience,' said Wang, citing the unit's official war diary as a great resource. Wang also put his boots on the ground, travelling to Fort Benning, Georgia, where the unit trained prior to being shipped off to England. There, he saw the jump towers and the barracks that Canada's first airborne unit utilized. The shipyard part of the story is pulled from the history of the Burrard Dry Dock company, the busiest Canadian shipyard during the Second World War, producing well over 100 ships and employing 14,000 people, 1,000 of them women. This advertisement has not loaded yet, but your article continues below. 'They had a north yard in North Vancouver. But during the Second World War, they built the south yard on the south shore, False Creek,' said Wang. 'There were books written about the company, including one called Waterfront To Warfront by George Edwards.' A real gem discovered in his research journey was the house organ (a.k.a. the company newsletter called the Wallace Shipbuilder, named after the company's founding family). 'It was a monthly newsletter on all things related to the shipyard, from explaining how Victory ships were built here, to the bowling league results. And it just gave you a really fascinating time capsule of what it was like to be in the shipyard,' said Wang about the newsletters unearthed in the Vancouver Archive. 'They profiled workers, including Chinese-Canadians who worked in the shipyard as welders and so on. So that was just an amazing resource.' dgee@ Vancouver Canucks National Vancouver Canucks News Vancouver Canucks
National Post
12-05-2025
- Entertainment
- National Post
Second World War novel highlights 1st Canadian Parachute Battalion and Vancouver shipyards
Jack Wang's debut novel The Riveter may be set during the Second World War, but several of its themes ring true today. Article content Article content A cross-cultural love story set in Vancouver and on European battlefields in the early 1940s, the story focuses on Chinese-Canadian Josiah Chang, a riveter working on Victory ships in a Vancouver shipyard, and office worker Poppy Miller, a jitney-driving singer with an independent streak as wide as the Burrard Inlet. They meet at the shipyard and fall in love. Article content Article content But the story is complicated by her father's disapproval and a law that says if Poppy marries Josiah, she has to give up her citizenship. The couple is separated after an incident at the shipyard sends Josiah into a life-changing rage. Having to flee, he heads east and manages to enlist and make his way into the 1st Canadian Parachute Battalion. Article content Formed in 1942, the unit engaged in key operations in the European theatre, playing a crucial role in the Allied invasion of Normandy during D-Day on June 6, 1944, and took part in the Battle of the Bulge. Article content 'I would love to think this is a novel for a time. On the one hand, it does dramatize the ways in which Canada has been an imperfect nation, like any nation. But at the same time, it also dramatizes, I think, our courageous spirit, our fighting spirit, the ways we sacrificed in the fight against fascism,' said Vancouver native Wang recently from Ithaca, N.Y., where he is a professor in the writing department at Ithaca College. 'It reminds us of how we forged our identity as a nation, which was largely through two world wars.' Article content Article content Wang's historically accurate story takes readers through paratrooper training in the U.S. and Britain, then right into the thick of the European war. Article content 'A lot of Canadians aren't familiar with the 1st Canadian Parachute Battalion. For example, many Americans know about Easy Company from Band of Brothers, but I don't know that all Canadians know that we had a famed parachute battalion of our own,' said Wang. 'I would love to think that this is a novel that can remind people of the sacrifices our country has made and remind us of who we are as a nation.' Article content One member of that famed unit, Richard Mar, a Chinese-Canadian private from Vancouver, was a key figure in propelling Wang forward with this story. Article content 'There was a brief write-up about Richard Mar in a book called The Dragon And The Maple Leaf by Marjorie Wong,' said Wang adding that Josiah, who was a tree faller before becoming a riveter and a paratrooper, was inspired by the cartoon character Johnny Canuck. 'It's just a few brief paragraphs, but it describes how he served in the Ardennes and how he jumped into Germany. That really sort of was the first germ for the story. The idea of a Chinese-Canadian as a paratrooper.'
Yahoo
16-04-2025
- Business
- Yahoo
Is it better to pay off student loans or invest?
If you have a high interest rate on your student loans, it is probably best to prioritize paying them off. If you are in a loan forgiveness program or have a low interest rate, you may want to consider investing. A situation where you can both pay toward student loans and invest for the future is ideal. Balancing financial priorities can be tricky, and you may wonder whether you should prioritize paying down student debt or investing in long-term goals. The correct answer for you will hinge on the interest rate of your student loans and your ultimate financial objectives. If you desire to become debt-free quickly, putting your extra money toward removing student debt is ideal. On the other hand, investing could be a better option if your expected rate of return is higher than your student loan's interest rate or if you want to work on your financial security. If your budget allows, you could also choose to do both. Learn more: 7 Tips to help dig your way out of debt You should consider paying off your student loans if you want to prioritize removing debt, have high interest rates or an unpredictable cash flow. You'll save hundreds of dollars in interest. You'll become debt-free sooner to and work toward other financial goals. Improve debt-to-income ratio (DTI), increasing your chance for mortgage approval. Lengthy repayment period that can go on for several years. May not be beneficial, especially if you're working toward loan forgiveness or repayment assistance. Can cause you to miss out on potentially greater returns through investments. People whose top priority is to be debt-free. Borrowers with high-interest student loans (8 percent or higher). Borrowers who have private student loans with a variable interest rate. People hoping to purchase a home but can't because of a high DTI. If the rate of return for your investments will be higher than the interest rate for your loans, it might be a good idea to take advantage of compound interest and start investing. You might get a better rate of return. Investing sooner may help you retire sooner. Certain investment accounts have flexible withdrawal rules if you need liquid funds. You may still struggle with your monthly student loan payments. Investing won't help improve your DTI. Investments come with the risk of losing money — returns aren't guaranteed. Borrowers with a low interest rate on their student loans. Borrowers who are enrolled in a student loan forgiveness plan. People who already have investing knowledge. 'Graduates need to consider what is more important – building wealth or getting out of debt? And what will allow you to sleep at night?' says Jack Wang, Wealth Advisor at Innovative Advisory Group and host of the 'Smart College Buyer' podcast. There is no one-size-fits-all answer, and the answer is likely to change over time. As students and graduates consider this balancing act, Wang advises, 'Interest rate or rate of return doesn't matter here as much as people think. It's really about giving [savings and investments] time to grow, even if it is at a lower rate of return. It's about getting the magic of compound interest to work for you,' he adds. Here's what to think about when deciding between paying off your student loans and investing: Start by thinking about your overall financial profile. You need to consider other debts, savings goals and personal priorities. Here are some other goals you might decide to prioritize: Save for emergencies: Before paying off student loans or investing, save at least one month's expenses. Over time, try to build up to six months' worth of expenses. Save for retirement: If your employer offers a 401(k) match, take advantage of it. Explore other opportunities outside of a 401(k) to start saving for your retirement. Pay off high-interest debt: Credit card balances, personal loans and other types of debt might have high interest rates. Paying these off first can give you a higher return than investments or student loan debt. Tackle big life goals: If you want to have kids or save for a house down payment, you might decide to make minimum payments on your debt and hold off on investing for now. This gives you space in your budget to save for other financial milestones. A final personal priority to consider is whether becoming debt-free is your top goal. If so, you may want to hold off on investing and put all excess funds toward paying off your student loans early. Learn more: The psychological benefits of paying off debt Depending on when you borrowed the money and whether you have federal or private student loans, interest rates can range anywhere from 1 percent to over 17 percent. Compare your student loan interest payments to your expected investing return. Stocks can generally offer a long-term rate of return of over 9 percent a year. However, returns can be volatile if you invest for the short term. If your student loan interest rate is lower than what you can realistically expect to earn investing, then it could make sense to prioritize investing over paying down student loans early. When you're paying off student loans, you may be able to deduct interest payments you make on that debt. Eligible borrowers can lower their taxable income by up to $2,500, which helps offset the cost of student loans over time. At the same time, you can also deduct contributions made to a 401(k) or traditional individual retirement account. Think about which tax break is more important to you. Tenuous position of loan forgiveness Be aware of which programs are in jeopardy of cancellation or are being reviewed by federal courts. This may affect your decision to enroll or to start investing now. If you have federal student loans, you may be able to get student loan forgiveness, which eventually cancels all or some of your student loan debt. Make sure to look closely at loan forgiveness details to ensure eligibility. If you plan to take advantage of student loan forgiveness, then it doesn't make sense to put extra payments toward the debt. You could instead put the extra money toward investing and grow your money over time. Learn more: Trump targets PSLF, Education Department: What to do Deciding whether to pay off student loans or invest depends on your financial goals and which option gives you a better return. If the rate of return on your investments is higher, then making minimum payments and investing your extra cash may be a good choice. On the other hand, if your student loan interest exceeds possible investment returns, you may want to prioritize your debt payoff. It's important to note that, depending on your financial situation, you may not have to choose to invest over repaying student loans faster or vice versa. If you need help deciding what to do, contact an investment professional. Sign in to access your portfolio
