- Amid the ever-growing sophistication of new technologies, creativity and entrepreneurial instincts are the two most important priorities when nurturing innovative cities and nations
- New technologies are impacting and benefiting not only traditional internet-based companies, but also companies in traditional sectors such as manufacturing and real estate
- In the innovative cities of the future, new technologies such as artificial intelligence will be a seamless part of human existence, used to improve business efficiency and tackle social issues such as ageing populations
- For more information about the meeting, please visit: http://wef.ch/amnc18
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Even as new technologies inspire amazement and awe, revolutionizing the way we live our lives, technology leaders from around the globe who have gathered at the Annual Meeting of the New Champions agree that the key elements to the innovative cities and nations of the future are something much more low tech – creativity and entrepreneurial spirit.
Yossi Vardi, Chairman of International Technologies, Israel, argued that creative human beings are the secret to successful businesses and innovative societies. “The most important thing is the human being, the person. The person is number one, number two and number three. The rest is almost irrelevant,” Vardi observed, “If you find someone that is top talent, hire them … This is really the scarce resource. It’s like in Hollywood and every other industry – there is a creative element. Technology is the enabler, but the real offering is creativity.”
Speaking on the opening day of the World Economic Forum’s meeting in Tianjin, industry experts and technology leaders argued that the foundations of innovative nations – entrepreneurs – are built rather than bred.
While many cities and countries are looking to create their own versions of Silicon Valley and emulate its extraordinary success, Christine Tsai, Co-Founder and Chief Executive Officer, 500 Startups, USA, emphasized the importance of capturing its entrepreneurial spirit instead.
“I don’t think it is realistic to say you want to recreate Silicon Valley, because Silicon Valley is Silicon Valley,” noted Tsai, “I think it is more important to think about what are you are trying to bring from Silicon Valley into your market, to help spur entrepreneurship and build the ecosystem that will help start-ups thrive.”
From manufacturing to medicine and agriculture, Qin Jun, Chairman of Junzi Capital, People's Republic of China, said that new technologies would allow companies in many traditional industries to enter “uncharted waters”, leveraging data to improve their efficiency. Jun stressed the importance of a conducive environment for the business creatives of tomorrow in China, a country working to foster a new generation of creative entrepreneurs.
“The power of capital will facilitate people down this road,” noted Jun, “Having a dream. A sense of responsibility is also very important; I think that is part of the entrepreneurial DNA.”
Envisioning the innovative societies of the future, Liu Xiao, Senior Vice-President of China Vanke, People's Republic of China, offered some examples of how new technologies are impacting traditional sectors in significant ways.
“New technologies definitely have an impact on real estate. On several different fronts we are already using artificial intelligence,” remarked Xiao, “We are looking at ‘smart gates’ with sensors that have facial recognition. In real estate there are also wind-, sun-, light- and noise-proof calculations and now there are artificial intelligence (AI) applications that can do these calculations for us.”
To democratize the advantages of new technologies – to ensure the positive impacts of technology are far-reaching and effective, pointed out Ryu Jung-Hee, Partner and Chief Executive Officer of Futureplay, Republic of Korea, technology and artificial intelligence can also be leveraged to solve social problems.
“The biggest problem in South Korean society is that we are facing an ageing society and a lack of labour,” he said, “So I think AI can help solve those problems. In medical services too, [we can use] AI features to fight cancer. Our intelligence can be extended by AI, which means our inequality problems can also be helped.”
Today AI is touted as a magic buzzword, but in the innovative cities and nations of the future, technology leaders believe the technology will become a seamless part of our global existence.
“There have already been a lot of practical applications that happen around AI that we probably don’t even realize, a lot of things to do with curation or smarter services that are tailored towards you and your interests,” pointed out Tsai. “As our technologies develop, AI will become like mobile is already; now, you won’t say you are a mobile company because everything already is mobile, it is just part of the infrastructure.”
Yossi Vardi, Chairman of International Technologies, Israel, argued that creative human beings are the secret to successful businesses and innovative societies. “The most important thing is the human being, the person. The person is number one, number two and number three. The rest is almost irrelevant,” Vardi observed, “If you find someone that is top talent, hire them … This is really the scarce resource. It’s like in Hollywood and every other industry – there is a creative element. Technology is the enabler, but the real offering is creativity.”
Speaking on the opening day of the World Economic Forum’s meeting in Tianjin, industry experts and technology leaders argued that the foundations of innovative nations – entrepreneurs – are built rather than bred.
While many cities and countries are looking to create their own versions of Silicon Valley and emulate its extraordinary success, Christine Tsai, Co-Founder and Chief Executive Officer, 500 Startups, USA, emphasized the importance of capturing its entrepreneurial spirit instead.
“I don’t think it is realistic to say you want to recreate Silicon Valley, because Silicon Valley is Silicon Valley,” noted Tsai, “I think it is more important to think about what are you are trying to bring from Silicon Valley into your market, to help spur entrepreneurship and build the ecosystem that will help start-ups thrive.”
From manufacturing to medicine and agriculture, Qin Jun, Chairman of Junzi Capital, People's Republic of China, said that new technologies would allow companies in many traditional industries to enter “uncharted waters”, leveraging data to improve their efficiency. Jun stressed the importance of a conducive environment for the business creatives of tomorrow in China, a country working to foster a new generation of creative entrepreneurs.
“The power of capital will facilitate people down this road,” noted Jun, “Having a dream. A sense of responsibility is also very important; I think that is part of the entrepreneurial DNA.”
Envisioning the innovative societies of the future, Liu Xiao, Senior Vice-President of China Vanke, People's Republic of China, offered some examples of how new technologies are impacting traditional sectors in significant ways.
“New technologies definitely have an impact on real estate. On several different fronts we are already using artificial intelligence,” remarked Xiao, “We are looking at ‘smart gates’ with sensors that have facial recognition. In real estate there are also wind-, sun-, light- and noise-proof calculations and now there are artificial intelligence (AI) applications that can do these calculations for us.”
To democratize the advantages of new technologies – to ensure the positive impacts of technology are far-reaching and effective, pointed out Ryu Jung-Hee, Partner and Chief Executive Officer of Futureplay, Republic of Korea, technology and artificial intelligence can also be leveraged to solve social problems.
“The biggest problem in South Korean society is that we are facing an ageing society and a lack of labour,” he said, “So I think AI can help solve those problems. In medical services too, [we can use] AI features to fight cancer. Our intelligence can be extended by AI, which means our inequality problems can also be helped.”
Today AI is touted as a magic buzzword, but in the innovative cities and nations of the future, technology leaders believe the technology will become a seamless part of our global existence.
“There have already been a lot of practical applications that happen around AI that we probably don’t even realize, a lot of things to do with curation or smarter services that are tailored towards you and your interests,” pointed out Tsai. “As our technologies develop, AI will become like mobile is already; now, you won’t say you are a mobile company because everything already is mobile, it is just part of the infrastructure.”
The World Economic Forum’s 12th Annual Meeting of the New Champions is taking place on 18-20 September in Tianjin, People’s Republic of China. Convening under the theme, Shaping Innovative Societies in the Fourth Industrial Revolution, nearly 2,000 business leaders, policy-makers and experts from over 80 countries will participate and explore more than 200 sessions over the three days of the meeting.