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AI to play vital role in future global economic growth: business leaders

China

AI to play vital role in future global economic growth: business leaders
China

China

AI to play vital role in future global economic growth: business leaders

2024-05-14 21:18 Last Updated At:21:47

International business leaders attending the Global Trade and Investment Promotion Summit on Monday in Beijing believed artificial intelligence (AI) will give a fresh momentum to economic development by improving the productivity while calling for more mature technologies.

The third Global Trade and Investment Promotion Summit saw a gathering of heads of chambers of commerce, business associations and trade promotion facilities, as well as high-level representatives from Tesla, Walmart and other Fortune Global 500 companies. 

A high-level platform for interactions among business communities from different countries, the summit aims to jointly address global issues, nurture new growth points for international economic cooperation and reform the global economic governance system.

State-of-the-art AI technologies and the changes they will bring to economic landscapes have been put under the spotlight.  

Lorenzo Riccardi, chairman of China-Italy Chamber of Commerce, hailed China's technological advances and saw digital technology as a priority area for cooperation between European and Chinese firms.

"I can see that nowadays in the business sector, Italian companies, they focus on Chinese partners to promote the digital trade of the quality of their products. So this is one of the key elements to cooperate between the Italian companies and the Chinese market. I just arrived in Beijing actually traveling from Shenzhen. That [city] is one of the symbols of the technology, the innovation and the development of the Chinese economy. I believe this is one of the key sectors we need to focus as Italian, as European companies, to promote our interactions with the Chinese companies," said Riccardi.

Japanese business leader Osamu Onodera said industries can take up the AI tools to become more productive.

"So AI will allow for data to be shared real-time and also for resources to be allocated more efficiently. And so I think there's a lot of possibility for AI to boost production and also allow for more efficient resource allocation," said Onodera, who is vice chairman of the Japanese Chamber of Commerce and Industry in China.

While being optimistic about the prospect of AI industry and how it will reshape the economy and society, experts also warned investors to be cautious and stressed efforts to accelerate AI maturity.

"I think AI in China will develop substantially and rapidly. Look at what Baidu is doing, for example, in their AI program. [Developing] AI needs a lot of repetition and China is in a great position to do that because of the number of populations and transactions and the information that can flow," said Rani Jarkas, chairman of Cedrus Investments, a Hong Kong-headquartered global boutique investment firm.

"It's amazing technology, but it needs to be developed, needs to be matured slightly more. So we think that there's a lot of hype at the moment and the valuation is very high and investors need to be cautious. However, five, ten years down the road, this technology will be very important for advancing human lifestyle and also in technology too," Jarkas said.

AI to play vital role in future global economic growth: business leaders

AI to play vital role in future global economic growth: business leaders

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Israeli army may have repeatedly violated laws of war in Gaza: UN report

2024-06-20 02:18 Last Updated At:06:17

The Israeli Defense Forces (IDF) may have repeatedly violated fundamental principles of the laws of war in a series of prohibited indiscriminate attacks on Gaza, according to a report issued by the United Nations (UN) Human Rights Office on Wednesday.

Released during the 56th session of the UN Human Rights Council in Geneva, the report details six notable attacks targeting Gaza's residential buildings, a school, refugee camps, and a market between Oct 9 and Dec 2, 2023, which involved the suspected use of GBU-31, GBU-32 and GBU-39 bombs.

"The report details six emblematic attacks involving the suspected use of GBU-31s, or 2,000-pound bombs, GBU-32 1,000-pound bombs, and GBU-39, 250-pound bombs from the 9th of October to the 2nd of December 2023 on residential buildings, a school, refugee camps, and a market," said Jeremy Laurence, the spokesperson for the Office of the High Commissioner for Human Rights (OHCHR), at a press briefing in Geneva.

GBU-31, 32 and 39 bombs are mostly used to penetrate through several floors of concrete and can completely collapse tall structures. Given how densely populated the areas targeted were, the use of an explosive weapon with such wide area effects is highly likely to amount to a prohibited indiscriminate attack, the report finds.

The OHCHR has reported that at least 218 deaths have been confirmed as a direct consequence of the six attacks. However, it cautioned that the actual death toll is likely to be significantly higher.

"The report concludes that these Israeli strikes indicate that the IDF may have repeatedly violated fundamental principles of the laws of war. In this connection, it notes that unlawful targeting when committed as part of a widespread or systematic attack against a civilian population, in line with a State or organizational policy, may also implicate the commission of crimes against humanity," said Laurence.

The report also says that such unlawful targeting may also implicate the commission of crimes against humanity.

"Israel's choices of methods and means of conducting hostilities in Gaza since the 7th of October, including through the extensive use of explosive weapons with wide area effects in densely populated areas, have failed to ensure that they effectively distinguish between civilians and fighters," said Laurence.

"It became very clear to us that the nature of weapons that were used, especially on a wide area, that have a wide area effect, is extremely dangerous in the context of Gaza, and we have been saying this, in several reports and statements, that Gaza is a very densely populated area. And in these six incidents, we had sufficient information to demonstrate, the civilian casualties, both in terms of the deaths as well as injuries, and where we felt that the principles of international humanitarian law, particularly precaution, distinction, proportionality, were not necessarily followed," said Ajith Sunghay, an official with the OHCHR in the Occupied Palestinian Territory.

Although the report primarily focuses on Israel, it also highlights that Palestinian armed groups have continued to fire rockets indiscriminately towards Israel, inconsistent with their obligations under international humanitarian law.

Israeli army may have repeatedly violated laws of war in Gaza: UN report

Israeli army may have repeatedly violated laws of war in Gaza: UN report

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