China’s changing approach of data and AI – Winston Ma

 

Winston Ma

China’s industrial policy towards data and Artificial Intelligence (AI) is changing, writes Winston Ma, adjunct professor at the New York University at Europeansting.com. “The fresh approach could be a model for developing economies to follow — but the nature of AI innovation and expansion means they also risk being left behind.”

Winston Ma:

Now the Generative AI boom in 2023 is further driving Chinese companies — in about every sector — to invest heavily in research and development of the latest digital technologies. They are rushing to learn how new digital technologies, also including the internet of things, blockchain, cloud computing and data analytics (dubbed “iABCD”) can be integrated into their businesses to unlock value from non-traditional angles.

This powerful trend is real and accelerating. In early January, China’s 17 government departments and ministries issued a three-year “Data Element X” action plan, one month after the “Data X” concept was introduced. The action plan will promote “high-level application of data”, highlighting “high quality” data supply, data circulation, data analytics and data security.

For example, enterprise leaders use data and metrics to assess performance, identify gaps and update plans. In almost all companies, this is historical data about what has already happened, and leaders may get away with that (the figurative equivalent of driving forward with your eyes fixed on the rearview mirror) when the world is stable and business conditions are certain.

But today’s tumultuous post-pandemic world is riven with macroeconomic, geopolitical and technology disruptions. In addition to the need for more real-time data, the businesses further need the predictive capabilities of AI that can help them anticipate and shape the future. As such, the new data capabilities of businesses and industries will result in more profound transformation than from the mere addition of internet.

In short, the main task of “Data X” is to activate the data market, enabling data to realize its full value. This happens at a time when data is created at an increasing pace. In addition to the data creation by the existing digital economy, in August 2022, the number of connected “things” (mobile IoT devices) exceeded that of connected “people” for the first time in China. More data will be created by “things” in the future than “humans”.

More at the Europeansting.com.

Winston Ma is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.

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How Xi Jinping’s rules will benefit the tech sector – Shaun Rein

 

Shaun Rein

China’s crackdown on tech firms is in the longer run benefiting consumers and the industry itself, says business analyst Shaun Rein about the governmental efforts to curtail free-wheeling companies.

Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

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Curtailing tech firms makes the industry more sustainable – Shaun Rein

 

Shaun Rein

Investors got jittery when China’s government started a coordinated action to limit the power of its tech industry. But business analyst Shaun Rein saw how powerful companies made consumers and the government weary. Rein believes stricter oversight of the technology industry will make it more sustainable, with fairer competition that will benefit consumers, he tells AP.

AP:

Until recently, tech firms operated in a regulatory gray zone, with relative freedom to create their business models, demand that merchants and vendors sign exclusive contracts with their platforms and collect user data to better understand their customers.

After China introduced health monitoring and quarantine apps during the pandemic, it became clear that tech companies like e-commerce giant Alibaba and gaming company Tencent controlled huge amounts of data, said Shaun Rein, founder and managing director of China Market Research Group in Shanghai.

“I think it was in the last year and a half that you can start to see just how much power these technology companies have,” said Rein.

Alibaba Group Holding recently was fined a record $2.8 billion over antitrust violations. Other big tech companies have been fined or investigated for alleged anti-competitive behavior and lapses in financial disclosure.

“Two years ago Chinese consumers didn’t care, they thought the convenience of apps outweighed any negative benefits,” Rein said. “But now Chinese people are quite concerned about data privacy, because Alibaba and Tencent have so much data – even more data than the government.”

Rein believes stricter oversight of the technology industry will make it more sustainable, with fairer competition that will benefit consumers.

More in AP.

Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

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Data is the new oil in China, and the rest of the world – Ashley Dudarenok

 

Ashley Dudarenok

Data is the new oil, and China is already in a leading position to show how data changes the way business is being done, says marketing guru Ashley Dudarenok at her vlog.

Ashley Dudarenok is a speaker at the China Speakers Bureau. Do you need her at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

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China follows EU lead in data regulation – Winston Ma

 

Winston Wenyan Ma

China is following the European Union’s GDPR in trying to regulate the unruly data industry, says Winston Ma, Winston Ma, adjunct professor at the New York University School of Law at CNBC. China’s internet companies based for years their business models on consumers’ lack of awareness of privacy, he adds, but those days are over.

CNBC

In 2018, the European Union’s landmark General Data Protection Regulation came into effect. Called the GDPR for short, it gives citizens in the bloc more control over their data and grants authorities the ability to fine companies that fall foul of the rules. The U.S. has yet to enact a nationwide data protection law like Europe.

Now China is attempting to do something similar.

“After years of Chinese internet companies building business models around Chinese people’s lack of awareness about privacy, users are becoming more knowledgeable, and they are becoming angry with companies abusing their personal information,” Winston Ma, adjunct professor at the New York University School of Law, told CNBC via email.

More at CNBC.

Winston Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

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China moves from “mobile first” into “data first” – Winston Ma

 

Winston Wenyan Ma

China was the first economy to leapfrog into mobile, skipping hardware technologies from the West. Now it is moving from “mobile first” into “data first”, paving the digital road also for other economies, writes investment analyst Winston Wenyan Ma in Arabian Business.

Winston Wenyan Ma:

Across just about every industry sector, Chinese companies are rushing to learn how new digital technologies, including the internet of things, AI, blockchain, cloud computing and data analytics can be integrated into their businesses to unlock value from non-traditional angles. The transformation of businesses and industries has been more profound than from the mere addition of internet.

Again, taking the logistics issue Singles Day for example. The inventory, distribution and delivery of numerous orders in a short span of time is such a challenge.

And as such, Alibaba’s logistics affiliate, Cainiao, launched big data analytics to empower merchants with demand forecast data and allow them to accurately pre-stock their goods in the right quantity and location.

Moreover, Cainiao used GIS (Geographic Information System) to determine the fastest and most cost-effective delivery routes in a variety of complex road networks, including both rural villages and crowded urban areas. Because of the 2020 coronavirus pandemic, Cainiao deployed more than 10,000 mobile lockers to allow customers to pick-up parcels without human contact.

All these have profound implications for emerging markets that are looking at China as a reference case when they work on their own digital transformation. That means they need to look beyond mobile phones and the digital wallet; instead, they must start positioning themselves for the next phase – AI and the digital economy – now.

The billion-user messaging service of WeChat, $74 billion e-commerce in 24 hours on Singles Day, and “smile-to-pay” functions creating a cashless society are already screenshots from yesterday.

More in Arabian Business.

Winston Wenyan Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

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