When the Chinese hedge fund High-Flyer launched DeepSeek on January 20th, the global AI market for large language model (LLM) systems was turned upside down. Investors dumped nearly a trillion dollars of tech stocks in the U.S., panicked by the prospect that a cheaper, more nimbler alternative would undermine the massive investments that companies like Microsoft, Google, and Apple were making in AI.

A month later, those stocks have all largely recovered. Now, as investors have had time to use DeepSeek and better understand what it can do, there's less concern that it'll displace U.S. tech giants. The focus now is on its impact on the rest of the world.

Asia Society Switzerland Fellow John Lee, a veteran Chinese technology analyst, joins Eric to explain why Chinese AI initiatives like DeepSeek along with new innovations in automotive tech are poised to take off in lower-income developing countries.

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Week in Review: September 12-18, 2022