CHONGQING, China, Sept. 4, 2018 /PRNewswire/ -- Industry leaders attending the first Smart China Expo (SCE 2018) in China's western city of Chongqing have articulated a new vision for how the world's digital economy will evolve at the event's Global Digital Economy Summit, a forum that brought together 650 participants under the theme "New Digital Economy, New Growth Engine." Speakers projected a future in which Big Data reshapes the way businesses and governments operate, cooperate, and compete.
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New forces being unleashed by current innovations threaten to disrupt the existing economic growth models of many industries, as digital information will rise to the same status as land and capital as a key element of productivity. Meanwhile, governments around the world are building "smart infrastructure" as they seek to use technology to upgrade power grids, railways, ports and toll roads, and seek to integrate everything. Big Data technology also helps build "smart cities," boost consumption, and improve social welfare programs ranging from education to philanthropy to healthcare.
"Artificial Intelligence (AI) could be a big contributor to healthcare," said Piero Scaruffi, a cognitive scientist, AI expert and writer of A History of Silicon Valley. Piero, believes that technology will make a better society and that AI will slash the cost of healthcare. "When we talk about machines saving lives, that's real progress," he said.
Kate Garman, smart city policy adviser to the Mayor of Seattle, shared insights into smart city management at SCE 2018. "Smart cities have challenged cities to be innovative. It has been the inspiration for cities to jump forward using technology," she said.
Despite huge progress, China still faces many hurdles in developing a digital economy, said Li Yizhong, former head of China's Ministry of Industry and Information Technology (MIIT). "Chinese manufacturers lag in the application of smart manufacturing, and businesses need to accelerate their digitalization process." Li pointed out that "issues like how to balance improving efficiency and protecting jobs, and how to protect commercial secretes in the age of Internet also remain challenging."
Alibaba Vice President Liu Song predicted that over the next 10 years, AI and the Internet of Thongs (IoT) will replace mobile technologies as the world's defining digital technologies, which is why Alibaba is heavily investing in three areas: Big Data, network synergy and smart data. Liu's view was echoed by Cai Yongzhong, Chairman of Deloitte China, who urged traditional businesses to actively embrace innovation in the face of the upcoming digital revolution.
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About Smart China Expo (SCE)
Held Chongqing, the Smart China Expo (SCE) is a world-class, national-level Expo that supports the development of Big Data and smart technologies in Western China. High-profiled guests joined the event including 4 political heavyweights, 22 national government officials that above ministerial-level, 58 persons who are in charge of institutions under national departments, and 407 senior representatives from top tier global brands such as Siemens, IBM, Microsoft, Qualcomm, Baidu, Alibaba, Tencent, Huawei and more.
SOURCE Smart China Expo