Depending on the definition, the size of the digital economy is estimated to be between 4.5% and 15.5% of the world’s gross domestic product, according to the Digital Economy Report 2019 published by UNCTAD. According to the Ministry of Industry and Information Technology, the scale of China’s digital economy reached 35.8 trillion yuan in 2019, accounting for 36.2 percent of GDP.
The future is speeding up. 5G, cloud computing, big data, Internet of Things, industrial Internet, blockchain… The digital revolution is rapidly driving the transformation of the digital economy.
In the just-announced outline of the 14th Five-Year Plan, the content of “building a digital China” is highlighted. How to accelerate digital development and embrace the era of digital economy has become the focus of the global industry at the Economic Summit 2021 of China Development Forum (CDF) held from March 20 to 22.
Digital growth is unstoppable
Open the “Fourteenth Five-Year” planning outline, “to accelerate the digital development of the construction of digital China” eye-catching.
“A very prominent feature of the plan is that for the first time in an important document of the central government, there is a special chapter devoted to the digital economy and digital China,” he said. “Said Jiang Xiaojuan, vice chairman of the National People’s Congress Social Development Committee and dean of the School of Public Administration at Tsinghua University.
The digital economy is growing fast. Depending on the definition, the size of the digital economy is estimated to be between 4.5% and 15.5% of the world’s gross domestic product, according to the Digital Economy Report 2019 published by UNCTAD. According to the Ministry of Industry and Information Technology, the scale of China’s digital economy reached 35.8 trillion yuan in 2019, accounting for 36.2 percent of GDP.
“Digital transformation is a big trend.” Michael Spencer, a professor at New York University and Nobel laureate in economics, said the COVID-19 outbreak has further accelerated the development of the digital economy.
In the eyes of Sanjay Mehrotra, president and CEO of Micron Technology, one of the world’s largest semiconductor manufacturers, the rapid development of the digital economy is inseparable from the development and application of 5G. In the 5G era, data-centric computing capacity will be further enhanced, enabling digital transformation to achieve greater efficiency and greater value in every industry, he said.
“Digital” empowers the industry across the board
What is the development path of the digital economy in the future?
At the forum, people in the industry generally believe that the digital economy is not about “numbers for numbers’ sake” or the invention of a single new product. Rather, it is about empowering different industries and different scenarios and forming a new development ecosystem.
“For the digital economy to be broadly empowering, the boundaries and depths of its connections must continue to expand.” Consumption, tourism, transportation, health care, education, pension and government governance are all application scenarios of the digital economy, Jiang said.
Professor Lawrence J. Lau, former president of the Chinese University of Hong Kong, said the development of the Internet has made distance education a reality, enhancing the accessibility and fairness of education. In the future, artificial intelligence technology will revolutionize education and maximize the discovery and realization of learners’ potential.
Wan Yiting, executive president of Good Future Group, said that in the long term, the sustainable development of online education is the trend, and the fundamental driving force of development, from the demand side, is the broad masses of people’s yearning for low-cost, high-quality fair education; From the perspective of supply side, it is the innovation of education supply mode brought about by scientific and technological progress, such as the deep integration of cutting-edge technologies such as Internet, big data and AI with education. From a global point of view, the popularity of online means will also promote the continued growth of international trade in education services.
Digital empowerment offers a huge opportunity to address future health challenges. Qualcomm CEO Steve Mollenkopf said the high-speed data transmission could provide emergency responders with more information and support more accurate diagnoses. For example, connected ambulances can access patient files from hospitals en route and help doctors plan treatment plans before patients arrive at the hospital.
Give play to the role of enterprises as the main body of innovation
Where’s the next disruptive innovation?
According to Tesla CEO Elon Musk, digital health care, self-driving cars, and 3D tunnels to solve traffic jams are all innovative technologies that could transform related fields.
The picture of the future depends on what we create today.
As the main body of innovation, in the face of the roaring digital economy era, how can enterprises further enhance their scientific and technological innovation ability and create new advantages of digital economy?
“Facing the emergence of various digital technologies, enterprises can only take the initiative to embrace the new technology wave to better grasp the future.” “Said Zhang Jianqiu, executive president of Yili Group.
In recent years, Yili has carried out digitalization in the whole industrial chain. In the upstream, smart pastures should be built to control cows to produce good milk and more milk through relevant systems; in the midstream, smart factories should be built to better reduce costs, control quality and improve efficiency; in the downstream, digital technologies should be used to strengthen research on the new development trend of community retail and consumer market.
Wu Xiaoru, president of iFlytek, said that facing the digital wave, it is necessary to further strengthen the dominant position of enterprises in scientific and technological innovation and improve the success rate of transformation of scientific and technological achievements.
“Statistics show that the success rate of transformation of scientific and technological achievements in China is only 10 percent, compared to 40 percent in many Western developed countries.” He said that to better integrate the future development of enterprises with the development of the national innovation system, it is necessary for enterprises to actively participate in the national innovation planning, better undertake transformation, and strengthen the protection of intellectual property rights, so as to enhance the motivation of enterprises for scientific research and innovation.
Kuang khoi technology partner and President of wave said, for the enterprise, on the one hand to hard skills, pay attention to the nature of innovation quality and innovation, creating high quality intellectual property cluster, on the other hand will help to promote new areas such as artificial intelligence, big data and new forms of protection of intellectual property rights, truly protect innovation, promote innovation, encouraging innovation, make industry to achieve sustainable development.