Imagine a city where commuters are chauffeured to work by self-driving cars and artificial intelligence systems control every power plant, traffic light and light bulb, making road accidents, power cuts and even traffic jams a thing of the past. Thanks to 5G, the latest protocol for mobile communications, this vision may be realized soon. The world’s leading telecoms companies are already testing the next generation of wireless internet and the first 5G services could be rolled out in 2019. China and the US are locked in a furious battle for control of this and the winner will gain a big economic advantage for years to come.
Google Home and Amazon’s Alexa have been catching on very quickly. Google reports that it sells a voice-controlled speaker every second. While this could just be a fad, some analysts argue that the voice-activated speakers may mark the biggest shift in consumer technology since the smartphone. “Humans don’t really communicate that effectively using text,” says Richard Watson, a futurist in London. Vocal computing should speed up a lot of queries, given that most people can speak much faster than they can type. What has voice-control changed? What are the new opportunities vocal computing will offer?
Chinese tech giant Tencent surpassed Facebook in market value this November, and is the first Asian company worth more than $500 million. Unlike Facebook, which earns 97% of its revenue from advertising, online advertising only represents 16.9% of Tencent’s revenue, according to the company’s Q3 2017 report–lagging behind domestic competitors like Alibaba in terms of ads gain. Determined now to gain a larger slice of the digital advertising market, Tencent focuses on improving targeting and algorithms to intensify ads on its ubiquitous platform WeChat while not undermining the user experience, as well as leveraging opportunities in the company’s other products and services, including mobile games.
BGI, China’s biggest genetics company, offers genetic testing services around the world and did an IPO on the Shenzhen Stock Exchange in 2017. In 2016, the company recorded revenues of RMB 1.7 billion ($261 million), with a net profit of RMB 350 million ($54 million)–an increase of 28% over the previous year. However, in a country prone to market hype, there are those who view BGI’s dramatic stock performance with a dash of skepticism: The market valuation of BGI is high, mainly because there is room to imagine future developments in the genomics industry. BGI’s future success will hinge on its ability to lead the technology change, and that is no small challenge.
What does it mean to have a mind? What is the nature of intelligence? Such questions have motivated Brian Christian, a computer scientist who holds a philosophy degree. He has been studying the gaps and overlaps between humans and machines, and investigated dehumanized communication as a result of increasing machine interactions in his bestseller The Most Human Human. In his second book, Algorithms to Live By, co-authored with cognitive scientist Tom Griffiths, he says that computer science actually gives us a way of thinking in new terms about what it means to be rational.
Are smartphones making us smarter? Bosses are especially concerned about this at the workplace because people check their phones as often as 150 times a day–meaning we may be distracted more than 50% of the time at work and have lower productivity. However, our devices are good for relationship building, and having a good friend at work tends to extend an employee’s stay at a job. In addition, smartphone use helps ensure that the workday never really ends and work time can extend into evenings and weekends. This could be both good and bad news because long hours can translate into lower productivity and, eventually, illness.
How do big multinational companies innovate? According to Kapil Kane, Director of Innovation at Intel China, there are three ways: partnership, acquisition and in-house development. The problem with the last of these is that in-house R&D laboratories may be good at invention but not at innovation—that is, finding new uses for, or making improvements to, existing products and processes. Kane aims to fix this at Intel China with his Ideas2Reality (I2R), a startup program nested inside Intel’s China operation that encourages employees to submit ideas, which are vetted, incubated and accelerated using the same principles used by leading Silicon Valley accelerators like Y Combinator.
Although China views space exploration as important for bolstering national prestige and influence, boosting national defense, and promoting domestic industries and economic realignment, the country’s space program is still far behind the United States. It has fast caught up fast with other nations, however. China aims to send a rover to Mars and launch a manned space station by 2020, and is also testing the ability of astronauts to stay on the moon for extended periods. And while the government increases its efforts, private companies are also joining to make a presence in space exploration.
Companies are dying fast these days. In the 1950s, the average age of a company on the Standard & Poor’s 500 index was 60 years, now it is less than 20. But International Business Machines (IBM), known as “Big Blue”, seems to be an exception. Over the past few decades, it has managed to keep up as others were dying and has successfully transformed itself. Now it has become a provider of cognitive solutions and cloud services. How has such a giant company managed to transform? Gill Zhou, chief marketing officer of IBM China, offers an answer in this interview with CKGSB Knowledge.
The sharing economy exploded in China this year, with companies for all kinds of shareable objects taking part in this new business model. While there are businesses familiar to Westerners—shared offices, cars and rides—there are also ideas that seem a little kooky, such as shared basketballs and umbrellas. Although some call it innovative, many realize these companies are just “rental 2.0” companies, assisted by digital technology. As the concept reaches fever pitch, however, it is also facing a reality check, especially as many firms, ballooned by venture capital funds, start to show signs of failing.