Blackstone chief executive Stephen Schwarzman, who travels frequently to Asia, said he sees an explosion of new AI businesses in China.

Sandberg was speaking at an interview hosted by German newspaper Die Zeit and UK law firm CMS at the World Economic Forum in Davos, Switzerland.

German Chancellor Angela Merkel on Wednesday said countries like India and China have begun affecting the world economy much more today and that needs to be taken into account for having a relook at the global trade and financial systems.