The Boao Forum for Asia has kicked off in Hainan, China, bringing together leaders and innovators to discuss how artificial intelligence (AI) and technological innovation can address global uncertainties. As geopolitical tensions and economic challenges persist, many are looking to AI as a beacon of hope for steering the future towards stability and growth.
Often dubbed the “Davos of the East,” the conference highlights Asia’s growing role in driving the global economy. With the continent holding significant influence over technological advancements, especially in AI, the forum provides a platform to explore how innovation can mitigate issues like trade tensions and economic instability.
A survey by the Boao Forum’s Academy revealed that while 80% of respondents view global trade factors and geopolitical risks as major concerns, a mere 16% see AI’s impact on the labor market as a threat. Conversely, an overwhelming 85% believe that industries related to AI, big data, and the Internet of Things will attract the most investment in Asia.
Experts at the forum emphasize the importance of integrating AI with existing industries. Li Zixue, Chairman of ZTE Corporation, suggests that companies should start small, gradually expanding AI applications throughout their operations. Similarly, Dong Junfeng, Chairman of China UnionPay, advocates empowering employees to become innovators in AI, fostering a culture of bottom-up development.
These discussions fall under the forum’s theme of “Identifying New Drivers,” focusing on strengthening AI application and governance for innovation-driven development. As Asia is projected to achieve a 4.5% GDP growth, integrating AI is seen as a crucial step in maintaining this trajectory amidst global uncertainties.
The Boao Forum for Asia continues to explore how AI and innovation can serve as solutions to the challenges faced today, promising exciting developments and collaborations that may shape the future of the global economy.
