Amidst the dynamic advancements in digitalization, international companies are increasingly recognizing China’s prowess in the digital economy. The recent 2023 World Internet Conference Wuzhen Summit served as a testament to this positive sentiment, with global firms expressing eagerness for deeper cooperation with China.
Next Generation Robotics, a specialist in robotic technology, showcased an innovative rolling stock inspection robot designed for autonomous safety inspections on rail cars. Equipped with advanced computer vision algorithms, the robot can automatically recognize crucial components and faults, ensuring the safety of trains. Antonio Frisoli, CEO of Next Generation Robotics, emphasized the potential of introducing this technology to the Chinese market, citing China as a significant hub for advancing research and addressing ethical and societal considerations.
China’s remarkable progress in digitalization is evident in its digital economy, which reached 50.2 trillion yuan (approximately 6.99 trillion U.S. dollars) in 2022, a significant increase from 11 trillion yuan in 2012. At the summit, numerous digital and high-tech enterprises, including Next Generation Robotics, expressed their eagerness to foster digital collaboration with China.
The spotlight also fell on Artificial Intelligence (AI), with watsonx, an AI and data platform developed by IBM, offering quick AI training and deployment capabilities for enterprises in various scenarios. Arvind Krishna, Chairman and CEO of IBM Corporation, lauded China’s thriving AI industry and expressed IBM’s commitment to contributing to China’s innovation-driven development.
Cybersecurity, a global concern, was addressed by Russian cybersecurity firm Kaspersky at the Light of Internet Expo during the summit. Kaspersky showcased its latest products, including KasperskyOS (KOS), Kaspersky Threat Attribution Engine, and Kaspersky Industrial Cybersecurity. Having entered the Chinese market in 2003, Kaspersky has established partnerships with government authorities and enterprises like Huawei and Alibaba, spanning information security, industrial security, and intelligence related to national security.
Alvin Cheng, General Manager of Kaspersky Greater China, outlined their strategic focus on cooperation with the Chinese government and large enterprises to combat complex cyber threats. This aligns with China’s intensified policy support to create a favorable digital business environment, as evidenced by guidelines unveiled in August to attract foreign investment and encourage multinationals to seize growth opportunities in China’s digital economic development.
As the world looks to China for digital collaboration, the nation’s commitment to innovation and policy initiatives positions it as a key player in shaping the future of the global digital landscape.
Shayne Heffernan, CEO and Founder of Knightsbridge, commented on China’s digital advancements, stating, “China’s rapid progress in digitalization is reshaping the global economic landscape. The nation’s commitment to innovation and collaboration makes it an attractive destination for international companies seeking growth opportunities in the digital economy.”