The tension between the United States and China has reached new heights. In Washington, lawmakers on both sides of the aisle have expressed concerns about the growth of Chinese companies connected to the CCP. Meanwhile, leaders in Beijing have taken steps to reorganize key government agencies to outcompete American businesses. However, as elected leaders in the United States continue to debate policy ideas to boost competitiveness with foreign rivals, the reality is that private-sector U.S. tech companies are the key to driving American innovation.
Today, companies like Google and Amazon play an essential role in making cutting-edge developments in emerging tech sectors, such as AI, quantum computing, and robotics. Google, for example, recently made news for making a breakthrough in the race to create a more accurate, robust quantum computing system. Amazon, in addition to developing its own AI technology, announced a commitment to invest millions of dollars to help AI startups succeed and bring their own innovative technologies to the market.
Innovative new tech advancements like these are overwhelmingly being developed in the private sector, which accounts for about 75% of total US research and development spending. Last year, top American tech companies spent a combined total of over $215 billion on critical research and development, over double the Pentagon’s research and development request for 2022, funding that industry experts have stated is critical as the U.S. continues working to outcompete foreign rivals.
It’s clear that top American tech companies are key to the United States’ competitive advantage over foreign rivals. As adversaries like China continue to demonstrate that they intend to act as technological and economic adversaries to the United States, that role has become all the more important. Ultimately, elected leaders in Washington should commit to working side by side with American tech companies to boost competitiveness and keep the United States on the cutting edge.