News Analysis: Boosting innovation to drive global economic recovery-Xinhua

News Analysis: Boosting innovation to drive global economic recovery

Source: Xinhua

Editor: huaxia

2023-06-28 20:07:00

BEIJING, June 28 (Xinhua) -- As the world seeks a path forward in the post-COVID-19 era amid headwinds, innovation emerges as a pivotal solution.

The ongoing 14th Annual Meeting of the New Champions, known as the Summer Davos, in north China's port city of Tianjin, has released a report listing new technologies poised to positively impact the world in the next three to five years. The emerging technologies include generative artificial intelligence, sustainable computing and flexible batteries.

New technologies have been developing rapidly and transforming people's lives. Artificial intelligence (AI) stands out as one of the bright spots of innovation. The growing demand for AI across various fields has facilitated the emergence of new economic models that integrate China's physical and virtual economies, leading to a more intelligent economy and society.

The rapid development of computing power and intelligent technologies, including digital twins, artificial intelligence and machine learning, augmented reality, and cloud and edge computing, are bringing enormous opportunities for manufacturing and productive services to re-configure and re-engineer, said Rui Wang, senior vice president and chair of Intel China during the Summer Davos.

The industry can work together in pivotal areas such as AI to innovate, empowering the industrial metaverse and further promoting the integration of the digital economy and the real economy, he added.

China has conducted technological cooperation with over 160 countries and regions and is actively involved in more than 200 international organizations and multilateral mechanisms related to science and technology. Its contribution to global technological innovation is on the rise.

Philip Myburgh, group head of trade and Africa-China at Standard Bank Group, the largest bank in Africa, said Africa is benefiting from Chinese technologies as it focuses on developing the manufacturing industry.

As the world strives to vitalize a sluggish economy and promotes green and low-carbon transformation, it is imperative for various parties to strengthen cooperation and make innovation a major driver of the global economy and a better world.