China and the United States should promote dialogue and cooperation. Both possess rich talent resources, robust economies and cutting-edge high-tech power. Their interactions in the emerging field and the associated realm of global governance, will have a significant impact on the future of humanity.

Artificial intelligence is in its early stage, so it’s hard to accurately predict all its risks and benefits. But a new wave of AI is rapidly approaching. No one can afford to ignore the huge potential benefits of this technology and no one can afford to fall behind in international competition.

The new frontier of AI may be the most exciting technology in the world, and the most controversial. The need for regulations across cultures and countries could be an opening for the U.S. and China to cooperate for the greater good.

The rapid developments in Artificial Intelligence (AI) present a multitude of challenges that demand regulatory attention. And if the U.S. and China can’t reconcile some of their differences on AI regulation and safety, the whole world will suffer.

New investment restrictions from the Biden administration will serve to stimulate China’s research and development efforts. In the long run, the measures could also weaken the United States’ dominant position in the global high-tech industry by stimulating substitution in the industrial chain.

An executive order issued recently by U.S. President Joe Biden to restrict outbound investment will have many unintended negative consequences. Other countries will need a healthy dose of vigilance regarding America’s duality and changeability, as the U.S. moral position is undermined.

As artificial intelligence (AI) becomes more sophisticated, its impact on international stability also increases. China and the U.S. should draw from historical arms treaties and adopt a cooperative approach to regulating AI to prevent conflict and promote global stability.

In his now-classic 2018 book, AI Superpowers, Kai-Fu Lee threw down the gauntlet in arguing that China poses a growing technological threat to the United States. When Lee gave a guest lecture to my “Next China” class at Yale in late 2019, my students were enthralled by his provocative case: America was about to lose its first-mover advantage in discovery (the expertise of AI’s algorithms) to China’s advantage in implementation (big-data-driven applications).

New international institutions, mechanisms and laws — as well as the reform and improvement of existing ones — should no longer be dominated by the West. The shaping of a new global order should be done through multilateral cooperation.

Artificial intelligence may transform human society for the better by releasing people from repetitive work and improving the speed of innovation. But no one is immune from its potential negative social impacts and security threats. Some worry about becoming its victims.