PHILADELPHIA, the United States, April 20 (Xinhua) -- A panel of experts said that China and the United States should utilize their respective advantages and enhance cooperation in technology, such as artificial intelligence (AI).

In a discussion at the 2019 Penn Wharton China Summit, Bill Huang, founder and CEO of CloudMinds, an operator of cloud-based systems for intelligent robots, said Saturday he thinks the United States is leading the world in software innovation, while China, with its industrial chain, has an edge in hardware innovation.

In terms of AI, Huang said companies could focus their algorithm development in the United States, and implement their business plans in the Chinese market.

"I think China cannot do without America, and America cannot do without China," Huang said.

Echoing Huang's remarks, Zhou Wei, founding managing partner of China Creation Ventures, said that massive data in AI and robotics fields in China could give entrepreneurs and their projects an advantage, with more training data available.

The three-day summit, a student-run gathering to discuss development of China and the United States and their cooperation, kicked off at the University of Pennsylvania in the U.S. city of Philadelphia on Friday.

Geoffrey Garrett, dean of the Wharton School at the University of Pennsylvania, told Xinhua earlier that he thinks the Chinese strategy has been to take cutting edge technologies developed somewhere else and scale them up in China.

"If innovation means turning ideas into outcomes at scale, China is certainly an innovation economy," Garrett said.

The Chinese government and the Chinese people tend to quickly adopt new technologies, which has facilitated technology application in China, Zhou said.

Li Zhen, chairman of Guoxuan High-Tech Power Energy Co. Ltd, said at the panel discussion that there is still a technological gap between China and the United States, especially in fundamental research.

"The United States has very solid foundation for inventions, while China has the market driving force in application," Li said, urging the two countries to work together so as to go further in technology development.