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AI drives comprehensive transformation across industries: economist

China

China

China

AI drives comprehensive transformation across industries: economist

2024-06-20 17:08 Last Updated At:18:37

Artificial intelligence is flourishing and is leading a comprehensive transformation across industries worldwide, said an economist on the sidelines of the 2024 World Intelligence Expo, which kicked off in north China's Tianjin on Thursday.

The 2024 World Intelligence Expo runs from June 20 to 23, aiming to aggregate AI-related resources both nationwide and worldwide.

With an exhibition area of 100,000 square meters, the event includes 10 themed exhibition areas covering the fields of AI, intelligent connected vehicles, intelligent manufacturing and robotics. Multiple international organizations and institutions are participating in the event, competing in robotics and intelligent driving challenges.

According to the latest report on China's new generation AI technology industry development released during the expo, the number of AI enterprises in China has exceeded 4,000, making AI a crucial driving force and strategic technology in technological revolution and industrial transformation.

"Since 2022, we have witnessed a shift in AI from specialized AI to a phase dominated by large-scale models known as general AI, which has a profound impact on promoting development of the overall economy," said Liu Gang, chief economist of the Chinese Institute of New Generation Artificial Intelligence Development Strategies.

The report said that China has built an AI tech system, industrial ecosystem, and enterprise alliances encompassing intelligent chips, large-scale models, infrastructure, operating systems, toolchains, deep learning platforms, and application technologies, all of which are providing crucial support for reshaping the industrial system and promoting new industrialization.

"On the one hand, AI has facilitated the transformation and upgrading of traditional industries and improved the efficiency. On the other hand, it has brought new industrial development, which will make our country's entire manufacturing industry stronger, with better quality and optimized economic structure," Liu said.

Data show that the scale of China's core AI industry reached 578.4 billion yuan (about 79.67 billion U.S. dollars) in 2023, up 13.9 percent over the previous year.

The enterprises' adoption rate of generative AI in China has reached 15 percent, with a market size of approximately 14.4 trillion yuan (about 1.98 trillion U.S. dollars).

AI drives comprehensive transformation across industries: economist

AI drives comprehensive transformation across industries: economist

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Japanese seek diversified investment options as yen devalues

2024-07-14 12:04 Last Updated At:12:37

The Japanese people are eyeing diversified investment options at a three-day wealth management exhibition which started on Friday in Tokyo, as the depreciation of their fiat currency yen goes on.

Since July, the retail price of gold in Japan has repeatedly hit new highs, and the price per gram rose to 13,612 yen (about 86 U.S. dollars) on Thursday.

As inflation continues in Japan, precious metals are increasingly popular as a way to beat it.

In addition to paper gold, rare precious metal coins have gradually become one of the new financial investment favorites in Japan in recent years.

"The gold content of coins determines their value as precious metals. But as collectibles, their price on the auction market will go up," said Mitsuru Hayama, an exhibitor.

In addition to traditional financial products which include real estate, there is a trend of diversification at this exhibition.

For example, for investment products such as agricultural blueberry gardens and mushroom farms, investors can choose to make investment only, or they can participate in specific business operations.

Investable wines and whiskies are also a big draw at the expo. Among them, wine investment has an online trading model, where investors can view the latest prices of wines on their mobile phones in real time and conduct transactions .

"You buy it when it's cheap and drink it whenever you want. This is the prime pleasure of investing in the wine. Even if you don't drink it yourself, you'll be happy if its price rallies," said Eiji Odawara, an exhibitor.

According to the latest data released by the Bank of Japan in June, as of the end of March this year, the scale of Japanese household financial assets inched up 7.1 percent compared with the same period last year, reaching 2,199 trillion yen (about 13.9 trillion U.S. dollars), hitting record highs for five consecutive quarters.

Among them, cash and deposits accounted for 50.9 percent, much higher than other advanced economies such as the United States and some European countries.

Japanese seek diversified investment options as yen devalues

Japanese seek diversified investment options as yen devalues

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