Dalio: China Treats AI as Utility Like Electricity, Expects No Immediate Profits and Little Fear of Job Loss

Ray Dalio said China treats artificial intelligence as a utility that should reach every worker, comparing it to electricity and running water. He made the remarks Wednesday at the Forbes Iconoclast conference in New York after meeting He Lifeng, director of the Office of the Central Commission for Financial and Economic Affairs, during an April trip to China.

Dalio, who founded hedge fund Bridgewater Associates, first visited China in 1984.

He told the audience that China is making a ton of money through exports and is funneling those earnings into AI development that will spur economic growth through productivity gains. "It doesn't have to be expensive or even profitable," Dalio said. The meeting with He Lifeng was photographed by Dai Tianfang of Xinhua via Getty Images.

U.S. artificial intelligence companies are preparing for public market debuts while Chinese rivals focus on placing models in the hands of as many workers as possible rather than on immediate revenue. Mary Callahan Erdoes, CEO of JPMorgan's asset management and wealth management businesses, spoke on a panel immediately after Dalio.

She said Chinese AI executives and politicos do not have "this fear of job loss" when it comes to AI. S. firms such as OpenAI and Anthropic emphasize revenue growth ahead of potential public listings, while Chinese policy pushes widespread adoption to drive productivity across the economy.