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Global Tech Forum 2019

What Impact Will 5G Have On Tech And Regulatory Standards?

Tech

The shift to 5G involves a riot of different companies, technologies and regulatory standards. Which players will lead?

[ FOREIGN ] Cheetah Mobile is a special company among them [ INAUDIBLE ] users 70 % of them come from overseas. So, and right start of our company, we focused our overseas strategy. So, it's quit couragous for such a company to do so. So can the such success be sustained? We'd like to invite Mr. Olson, co founder and CEO of Cheetah mobile to have an interview with us, Mr. For I remember in April last year, you held your event. You water tube. Stadion on your own, the launch of your first product. And I remember that you disappeared during the event and actually will later Yeah, yeah, it was a short dance us one in the swimming pool for our end to the other, another. And actually, many of your colleagues were opposed to Elise staff but you insisted and saying that you want to show how you felt in the previous passing year and you have also have a feeling of suffocating. Yes, they were opposed to such a move. And the you know, dancer they would hire professional synchronized swimmers to have some performance. But I, Told them that my swim would be for free. So actually I didn't know how to swim, I studied at university, coastal city, but I did not learn how to swim. Other city on the beach And later I found a friend who could swim long distance. And I asked him whether he was scared. And I certainly know who knew how to swim after the advice of my friends. And even my family once gave our core to me because I swam too far and they could not find me. So I think swimming is quite similar to many issues. I Just tell others when learners that they needed to swim slowly at the beginning, actually, the beauty of robotics is also quite similar because when we launched a such a business and we encountered Opposition for Now many people. So the question now is how to give up your fear. And the more fearful you are, the more distorted your gesture will be. So it's better to put your fear aside In order to have good moves, I think. So and there was also a shift in your thoughts. Because well by autonomous driving a new retailing of Alibaba and you disappeared for a few years. And where did you visit? and what did you think? and who did you meet in those years? So from smart no politics to think the market is large enough? [ BLANK_AUDIO ] Yes. Before the age of thirtieth, I had three the dreams, one getting in as a saving, second a visit to the United States and third, I am forgetting about it but all these three dreams have not come true. So when I was a 31 or 32, at the end visited the United States and states on the grasslands at the Stanford University. So I question why there is such a large gap and Innovation is very important. Several Chinese companies are accused of copying other products. I think innovation means I think differently. It's a means that or you need to do things that others do not they have to do. So in 2011. We have been fully committed to the China market so being the belief that even without the investigative market the overseas market that have been large enough. So in 2014 when the following years when our company was launched. We thought the same way and the reason to that we focused on the internal development rather than marketing and advertisement because we have many users in the United States and some other Chinese companies and I found that US had opportunity. So there are many challenges And yesterday I talked with new energy vehicle manufacturer, the boss of that manufacturer. And I think that it will take some time or even more time, for example in the field of a smart robotics I believe that if Robert can live together with human beings, our life will be improved. But the underlying technology is accessible and available now for AI For me personally, I've been engaged in many different products, including Klay Master, like several hundred million subscribers and users. I want to start something new. Nobody has ever defined this product. Right, after test law being produced that I think EV already being defined. So what's new area. [ BLANK_AUDIO ] By using the modern technology to improve service space robots. When you improve the. Hardware and software for the software era. You were an expert in scenarios you can always find that the pain point for the users and subscribers. You were criticizing recently some quality of fake Roberts. Can you tell us what's your justifications or the criteria to tell a fake versus authentic robot. Before my project, I visited the Japan pepper team. The pepper robot team, I visited And I also hired one of their product managers, I also visited some start up companies in the US as well as Chinese companies. I visited their robot products, I think that there is a curve for the You know the peak period of time, you know, as long as you can showcase a product that you can always get the dividends, which means for the Robert if you can have two arms and. And plus one screen and if it can move two steps, then several hundred thousand. There are always those rich buyers but it cannot be called as a good product. A good Product actually is going beyond the current users expectations or needs. You should have some premium like value. Can you give us an example for example, if you go to Katie wave for Cara [ UNKNOWN ] If you say this is my cell phone number mobile number, then the robot can guide you to the virtual like KTV room or booth. This robot can guide the 200 or 300 times replaces three You know, human say labor input. So I'm now to discuss this, like closure making disclosures that those fake products plus two arms and one screen is a good product. As thought it's a pain point. If the. In KTV in China, do you think such a robot can be replicated in overseas countries of course, the day before yesterday, our user from Japan they help For us to distribute these products. And he's very interested in our G Tech robot. Because our front desk for our whole company is a robot. If you register the In advance, then the video camera would capture your face and the facial recognition you can enter into any office. And you know this Japanese user think our product is better than before. And the from digital back to Physical items. But you were talking about it from the physical world to the digital transfer. In the past, the mobile net is the carrier but now you're talking about robot is the carrier for such transfer and transmission. And there are article Basis and yes. In the past, we always think internet would be the carrier for everything. But later on we think mobile phone can be the carrier for everything. You know the life can end with a chair and the VR and mobile phone But you see in past years shopping mall, the physical shopping malls, the visitors are on the rise instead of under declining in the past three, four years actually the online. [ INAUDIBLE ] Turn over. You didn't increase too much to exceed the shopping malls. So following the same theory, we don't believe that the mobile phones can replace everyting. Because mobile, after all, is just a device. [ BLANK_AUDIO ] If you see your family even your family mobile phone is not the center device in your home. [ BLANK_AUDIO ] If we can have such a robot And collect the data from the users. But in the past customers demands are not data. For example if I visited a physical shop and asked whether you have this chilly sauce and [ FOREIGN ] Then you said there is no Lagama, then that's it, but if we have a robot there, then you ask the same question. This question would be digitized there and become the big data. [ BLANK_AUDIO ] So that is in the future You're talking about ubiquitous carrier in addition to the brain, human brain there is another one is Robert. So in conclusion can you in summary tell us sometimes for what the looking person would feel very alone and lonely, do you feel such kind of loneliness. Was the pressures. First, loneliness. Failing is the inherent kind of character. If you want to try something different, your loneliness feeling would be increased if everybody can understand you You would not be standing out. So the life [ UNKNOWN ], you should accept such kind of lonely feeling as a CEO for the [ UNKNOWN ] data company. But before our company go public, I didn't receive training for the [ UNKNOWN ] company CEO. So learning by doing for two to three years I know how to cope with this stress and pressure. If your jet to curse others, it doesn't help. The only thing help you is you can really For the short term fluctuations and to have a long term vision. Yes, it's very correct. The short term fluctuations you should ignore these. Sometimes as startup companies it's difficult to put into wording your Sufferings and bitterness ups and downs as I explained that in the water Cuba, you jump into the swimming pool. Your first half, you use a freestyle then the second style you use a breast stroke. So it's just like the business, I hope going forward, you would move your head out of the water, to kill this scuffling, feeling and can swim and go further, thank you. [ APPLAUSE ] [ BLANK_AUDIO ]

How Cheetah Mobile Found 70% of Its Customers Abroad

Cheetah Mobile claims over 70% of its half a billion customers are from abroad. How did it achieve that? Will its recent pivot towards robotics and artificial intelligence also pay off?

Fortune China Innovation Award Competition #2

The second group of three finalists from a variety of sectors contest in front of the judging panel and live audience.

Today we have invited three heavyweight guess, coming from three angles to talk about something which is very relevant to us. That is our cities. The first question I'd like to ask Mr. Tall last year right here Was president of Cisco introduced was that Cisco was ready to help India to create 100 smart cities to fulfill the Indian Prime Minister, impatient or Cisco, maybe one of the company who has authority to talk about this. So my question is for Mr. Tall. Maybe you can tell us from a simple question how we can define Smart City. for China, for India for people everywhere live in the city, if city becomes smarter, what kind of benefit can we get from it? Mr. So, thank you very much. Good afternoon. Talking about smart cities, I think all of you may have different perspective. But from Cisco's perspective, the smarter way defy is a number one through a sustainable development solutions. And then rely on information, telecommunication equipment and tools to in the cities to adopt some of the data from the cities and for the general public to make full use of the values of the data. So as we could Improve our efficiency and to lower our costs at the end of the day, to increase the well being of the citizens to put it in a nutshell. So that is our definition about scarcity. You mentioned the ultimate benefit, I believe, which is linked with the ultimate format. And our pressure method of the smart cities, I think different cities or different countries, governments may have different definitions of perception and goals. Thank you very much. The question next question for Victor. Yoga Do you have to has number why your frontier tactical technology advisor also You're the CEO of a startup company of Smart City. Do you agree with Smith own definition? I think Mr. Tall talk about it in a very correct way but different places under different circumstances, definition of smart, they may be different Decades ago Why the concept was smarter was raised. Today's day a lot of changes happened to the definition, along with each country's economic environment changing political environment, culture, infrastructure build a practical level varying from HR. So different stages may exist. China has a high new tech Zoom. 30 years ago in China but right now we still have those Zoom. But we have different definitions in China. As I said, smart city actually changed several times before that during the 3G generation. Basically, smart city is focused on internet. To solve the efficiency of the current administration. But now we're entering the 5G internal things era. Data, intelligence and smart decision making are very important. Redefining the system of that smart city. Offline, online data Fusing with each other. So this is something China's leading the ward without any doubt. So I agree with Mr. Halls definition but I think it has a richer definition actually. As Mr. Hall putting the underlying infrastructure, which is very good. From a government perspective visitors how do you agree with the channel mr john what do you think. What's your position to represent the whole government. But you can see that the other two guests themselves also have divergent views on this issue when it comes to smarter city, the concept of smarter city yes to building up and today you can see many people who say data. They come from the field of a smart city. We use the Olympic Organizing Committee Also meet people from the sector of a Smart City. But we have come to find that actually they are working in different sectors. So as the Olympic Organizing Committee and City Administrator, we think about Whether we connect to all the traffic lights then our city will become a smarter city, or we have some energy conservation of a building, then we can make as many buildings as possible that our city will become a smart city. So scenario is always dependent on human settlements and areas. So for us to fill our settlements, for traffic, for infrastructure, and for safety, usually they can be. Divided into the above mentioned areas. When it comes to the olympic games we believe that olympic scenario is a kind of typical city scenario. So when it comes to the olympic games it is reported that, [ BLANK_AUDIO ] From the Barcelona Olympic games in 1992 to the 2008 Beijing Olympic games, it is found that we scored plenty reach diverse heritage. Would it be handed over? Will it be left to the host cities? So when Beijing, a host Winter Olympic Games, you translate it to cloud technology, big data and artificial intelligence will be commercially viable. So it is stipulated that Yes it is possible that 2022 Olympic games will be very technologically advanced Olympic games. So we are very happy to have been These [ BLANK_AUDIO ]. So by 2022 we have high expectation that the winter Olympic games in Beijing will be equally exciting than the Beijing Olympic Games in summer in 2008. And last time we presented to the world at the Chinese culture at the now we are in a crucial moment when advanced technologies are getting mature. So many people may ask that, how least advanced technologies can be applied. We are still exploring the scenarios where these advanced technologies are most suitable. So by 2022 we will have a great opportunity because they are about a two years and a half to go. The other Winter Olympic Games will be opened in February 2022 up de force day of the Chinese New Year. [ FOREIGN ] So at that time we will have a new navigational system and the way expands that has the navigational technology at that time was reach quite high level. We used to share with you that's a two technology is always closely associated. Winter with Olympic games. We want to fully represent the splatter this as we have Olympic Games. In each Olympic games, you can see the maturity and advanced application of some technologies. So what are the pain points in our organizing work? Let me tell you. For example, in February, 2022, 5G technology will be commercially rolled out because 5G mobile phones are already available today. So the challenge now is that for the stadium, we have 490 thousand seats. So it is expected that they will be 100, 000 people. So I think that's a good question for our colleague from Cisco. So for 100, 000 people use a 5G technology Mobile phones at the same time, that will be a huge challenge for QQ for communication. So that will be an area for research. So Mr. How do you think technology there will be capable of handling such huge amounts of communication. So it is dependent on the number of base stations installed in the [ UNKNOWN ] stadium. So technologically maybe it is already available and it is capable of handling such intensive communication But we need to install enough number of base stations. I'm confident about that. So technologically it is a viable according to Mr. Howe so today we are thinking about either past we Had our technology. We just showcase these technology and our capability. That's enough. But nowadays, in addition to showcase these technology, we want to find also Business model, as mentioned by Mr. Tom. So, if we cannot find an appropriate business model, maybe it is not a good idea to be applied in the only paper scenario. For example, is it possible for 100, 000 people. To go through a security check without any touch. So, Lisa, well, significantly shorten the time for our visitors to go through the security check. And there are 2 venues for the Winter Olympic Games. Well, yes, in Beijing the other years in the neighboring [ UNKNOWN ] Connected by high speed railway. Is it possible to have autonomous driving between our two areas? So we have high expectation on that. So thank you Mr [ UNKNOWN ] for revealing such a secret to us. We hope that with such advanced technology article application, we can see these scenarios come true Please allow me to add one more words about the role of technology and winter at the Olympic Games. And last month, I attended athletic games in Doha, the first time for Doha to host such a grand events. And yesterday, the senior UAE officials also visited our company to explore the possibility of our company's participation in the chapter 21 World Cup soccer World Cup. So we are working together with the UAE, running a sports events with our technological support. So as measured by our moderator after each big sports event, and usually these big sports events will deliver a strong boost to technological advancement. So, it is technologically viable, so it will be commercially rolled out after the games. So please rest assured that these advanced technologies will be used well, and with widespread usage, the cost for such technology will be lowered and lowered. So for the communication of 100, 000 people at the same time, I believe that we have enough. We have tremendous technologies, so I believe that it is viable. So in his company, you can see the show room of Terminus technologies. At the US the how you park your cars for example under [ UNKNOWN ]. So Mr. [ UNKNOWN ] how can what we see in the show room be really realized in our daily life? We have then been talking about what will happen in the next a few years. For example, new advanced technologies, new trends. We believe that we we will do better to focus our words, we are not a change in the next decade. So what will not remain unchanged in China and in the world in the next 10 years. So, maybe the Internet of things. We're all connected to everything in our city, and everything will be data based. So based on lease understanding in our products and our services, we focus our debt. We believe that small cities will have four stages. The first is driven by hardware, when you watch a Xiaomi television or a Xiaomi hardware, that will be the first stage. In the second stage, which is about solution Solution to traffic issues, to environmental issues, to agricultural issues, you need to [ UNKNOWN ] the solutions for different factors. So it will help the government and the business community in resolving a specific issue. The [ UNKNOWN ] stage where Be a solution for the whole city. That's what I'll be a package the solution to the host said to the whole city. So data will not be concentrated in silos. They will be packaged a solution for the operation of the whole city. Now many Chinese large cities They are centralizing data for a different government department. So that is the third stage and what we are working on. So we are actually not only in China but also other international cities also [ INAUDIBLE ] The fourth and the last stage we are all smart cities Converging, and there will be a network of Smarter Cities, Tokyo, Doha, Qatar, Abu Dhabi, and Shanghai in China. These amount of studies can can be connected, networked. So that is our vision. So think you Mr. [ UNKNOWN ]. I believe that you have taken the prospective of a new register. So coming back to the physical worlds, right? I would like challenge Mr. [ UNKNOWN ] because it reasons it is reported. That India is going to build one hundred smarter cities. At the foot of the Himalayan mountain and once a year is listed as the will hundred Smarter Cities, for example, India has, they have [ UNKNOWN ]. About 70 duster beings with about 70 million US dollars, so we're very expensive. So, the waste disposal capacity of the city remains unchanged. So these the smartest big beings have collected a lot of waste. Facilities waste can also be disposed After connection, so we'll have a spill over your favourite among other cities nearby with the collected cabbage. So what do you think of the theoretical and reality application? So as a serious the CEO of a tech company, our responsibility is to take a rational approach. So for your challenges, Mr. I envisage the quite a few scenarios. So we keep challenging these and we would like to make a breakthrough one after another. So for your question, I think for pack preachers [ UNKNOWN ] That we needed to follow into that direction of technology and in light of the local environment, how to find a sustained solution. So, for practice, how should we apply a technology in a real scenario of a suburb or city? So that is my understanding of theory and practice. So you just now share that with good. I think that's an interesting idea you share with me because we are talking about an application scenario. And we also have data in the middle and we also have a bank office. So the operations at three different levels, they are interacting with each other. So, [ FOREIGN ] We have some data analysis that we will come to understand. What improvements we should have made. So, this kind of a smart network driven by intention, so we need to further promote Smarter Cities. So thank you, Mr. I and the level of data. Because Barcelona wins hosted a four day long carnival participated by millions of people. After our carnival It was called a big data company. Look into the carnival And they analyzed the date, the credit card of those consumers. And they found that our French visitors used to stay intense, and the British visitors rarely spent according to the analysis on their credit cards in the Carnivore. So they are new sites, plus there are also a privacy issue. For example, a lens host can know how many selfie pictures you took. So, how can we ensure the boundary of privacy in the future? Please, I'd like to start with this. Let me start first. Because when it comes to data security, I think Cisco is always very much committed to data privacy. That is an important part of our responsibility. Traditionally we talk about data confidential. ality data integrity, for example. Now in the era of big data, artificial intelligence, and the cloud computing. We believe that the boundary of data security has been expanded For example data integrity, data privacy, and therefore for companies, they also want to have data privacy. So how should we utilize these data to promote open development? At the same time to ensure our data privacy in our algorithm, how should we not discriminate some people and their groups? So, in the algorithm level, we should not have pursue a discriminatory approach. The current practice actually the discrimination is there. So the [ UNKNOWN ] is very important, the policy level, the legal level, as well as the ethical level which we should pay close attention to it. Last question for you, Mr. Trump, in the last decade. Or so, with the war in the last century TV was very important even for the US presidential election. But in the new era, and what to use, how to think that the sports will be changed or entertainment will be changed in this century. Now we are going to have Quantum Leap in terms of sports and entertainment industry, and at the very beginning, we needed to go to the sports stadium to watch sports games and then we watch sports games on television and you can even see athletes sweating. Now I think things have begun to change again, when yes IP development. And another thing is that a very high resolution TV. And we are closely following the latest trends in the previous Olympic Games in Korea, Japan, for example. So we hope that the Olympic Games in Beijing will be more interactive. So thank you, Mr. Trump, for your information. We hope that we stay strong support for the government with active participation of the business and the other communities. Our city will be more livable, thank you. [ BLANK_AUDIO ]

A Look At How 5G Will Transform Cities

The connectivity and computing capacity that 5G enables can lead to improvements in transportation and energy efficiency cities.

How Do Cities Prepare For Autonomous Vehicles?

Autos

While most of us agree on the inevitability of AV and other disruptions to transportation, we don’t always agree on how cities should adopt them.

The Tech Transformation Of Goldman Sachs

Finance

How does a 150-year-old Wall Street powerhouse keep pace with the fast-changing technology? Its chief strategy officer shares her experiences and insight.

Can Tech Companies Bridge The Gap In The China-U.S. Trade War?

Many tech companies are caught in the crossfire of the escalating trade and tech wars between China and the U.S. What are the fundamental issues that are dividing the two superpowers?

Blockchain In The Wake Of China-U.S. Conflict

Blockchain experts from China and the U.S. discuss the latest trends in the blockchain field, especially in the wake of the ongoing China-U.S. conflicts over trade and tech.

Fortune China Innovation Award Competition #1

The annual FORTUNE China Innovation Award Competition showcases the best of China’s tech start-ups.

So I'm thrilled to be able to just introduce briefly our two guests here. Mr. Li Chuyuan is the chairman of Gwangju Pharmaceuticals. Is one of the most dynamic, successful and profitable companies here in Qualcomm. And Leader Hung who's from Singapore who is a specialist in civil engineering and urban planning. And he's on leave this year to work with a company that specializes in AI, facial recognition and is doing all kinds of interesting things associated with urban planning. And smart cities that is called PC tech. PCI PCI tech. Okay, sorry. And so our topic is the greater Bay Area and innovation and integration in the greater Bay Area. The most of the people in this audience will be familiar With this term, the greater Bay Area. I think sometimes for our friends from the San Francisco Bay Area, they get a little bit offended by that term. They said what are we the lesser Bay Area? [ LAUGH ] But, the sheer numbers and the scale of what's being contemplated here. In Guangdong, would suggest that in fact, San Francisco is very much in danger of becoming the lesser bay area, because what's been planned is for a region that will include nine cities, to special administrative regions, Hong Kong and Macau, takes in 70 million people, That's the population of the UK and Canada combined. Even though the the actual square footage of this area is only 1 % of Greater China, the GDP output is about 12 % and includes many of the richest cities In China, so it's an astonishing undertaking to try to integrate all these areas and yet, within it, there are still a lot of differences. There are different dialects. There are different transportation systems in Hong Kong, they drive on a different side of the road than they do here. Lots of different legacy institutions to, to integrate. So want to talk a little bit about how to how to stitch all those things together. Sherman Lee, I wonder if we could begin with you. Because obviously as a leading company in Guam, Joe and Guangdong, you're at the forefront of integrating The region and I know you've made some very interesting investments in Macau. And I wonder if you could talk a little bit about growing Joe's role in the greater Bay Area, and specifically, your investment in Macau. [ BLANK_AUDIO ] Thank you. I'm very thrilled that to our Guangzhou Pharmaceutical Holdings is the presenting partner. Actually it's a kind of a pre destiny between us and Fortune. Because it's the third consecutive or Fortune Global tech forum held in Guangzhou. Is also my third time attending the event. Just now Klay mentioned about greater Bay Area in the worldwide that are for. [ UNKNOWN ] Bay Area. One is in San Francisco featured in the science technology, second one is New York Bay. It's more on the business operation. The third one is Tokyo Bay Area featuring industry and also city clusters. For all going to Hong Kong Macau greater bay its a finance scientific technology class industry, so all you want. So for greater bay areas has its unique teachers for our greater bay are. It's very promising and has a bright future because the larger size scale as you mentioned the bigger population, very diversified industry resources Gundam, Macau, Hong Kong, a lot of policy advantages and the strength In Guangzhou [ BLANK_AUDIO ] among the greater bay area is fair to say, it's the central peace, central city, the advantage for Guangzhou [ BLANK_AUDIO ] is special, unique industries and the very sharp culture features It's tier one city from the industry point of view in Guangzhou In the first three quarters the total GDP reached 1. 7 899 trillion RMBUN enjoy the 6. 9 percentage increase. Among the greater Bay Area is one of the rapids develop cities for the four tier one cities It's the number one with regard to increase much higher than the Shenzen, Shanghai and Beijing. For our Guangzhou pharmaceutical holdings we can showcase this trend where the largest pharmaceutical company in China is largest TCM. Producer worldwide from January to September, our revenue exceeded more than 100 billion sorry. And by the end of this year we would exceed 130 billion RMB. Among all the major tier one cities We have a lot of comments, some people would say Shanghai feature. [ BLANK_AUDIO ] Beijing is the whole world. Shanghai is just the second then the heavens sky. But what's the nickname for. Gwangju, Gwangju is the most livable city. It's very livable and good for startups more than 2000 years ago, the sudden, Gwangju Emperor even 2000 years ago. He died after age of 103 years old and he was in the emperor position for 63 years, 103 years old number one [ UNKNOWN ]. 67 in the position as the emperor 67 years and he passed out he's the emperor to the grandson because he's he outlived his son so Guon Joe is a longevity city And the greater bay area is a longevity area and we should give credits to the house and wholesome habitats lifestyles as well as the pharmaceutical industries in the region In Guangzhou, we have several special features. The first is called the red culture, TCM culture, and innovation culture, creativity culture, So very strong features, is very suitable for living and the for starting up your business, talking about Guangdong, Hong Kong and Macau, greater Bay Area. Recently, [ UNKNOWN ] pharmaceutical holdings Is planning to relocate our headquarter in Macau as Klay invited me to talk a little bit more of the Macau. We wanted to establish international headquarters in Macau. We want to. Promote the diversification of the industries in Macau. It was a call and instruction from President Xi Jinping. It's also our future's development priority for the Guangzhou Pharmaceutical Holdings. The initial investment was 1. 5 billion RMB. Yeah, this is the initial stage we use this a special place as Macau, because one country two systems that as a lot of favorable policies, and the institutions, we would use [ FOREIGN ] as the industry base And also make full use of Macau's in Portuguese culture and use BRI belt and road initiative to further make the Guangzhou pharmaceutical holdings going global. [ FOREIGN ] And make more contributions to the greater Bay Area. We all know that [ UNKNOWN ] [ FOREIGN ] Among the greater bay area were featured also in R & D innovations. Globally, we even have our advantages and very promising potentials this morning. Our mayor, when mentioned also said. [ BLANK_AUDIO ] We have a national level scientific and RND base. We unveiled this as a team base. This is the only base. In this greater bay area is a very few Such a basis even worldwide, which means we have the new technological resources, for the pharmaceutical industries. During the tea break, we just released the two standards. One is international standard for [ UNKNOWN ] brand. This is an international standard The other is the gods of pharmaceutical holdings, spore oil in front of you. You can see we have the sport, all you products and other diversify the products very popular and Being welcomed. You go to each every corner of the world. Wherever there's a Chinese you can find one lousy brand because it's a double happiness and the lucky needs something like that. Thank you very much. We certainly can Find the greater at bay area to be a quite an integrated market for one lucky I think. Professor Lee let me ask you about the infrastructure piece of this because this is your specialty, I mean you've had considerable experience in designing and working with urban planning, and Singapore, one of the world's great cities. But Singapore is a, in many ways a much more. I mean, it's culturally and ethnically diverse but it's a single city and it doesn't have all these different systems and standards and legacies to integrate. So how would you compare the challenge of creating a greater barrier area to the challenge of building Singapore Thank you very much. Yeah, I've been my insert to the large extent already existed in your questions. Okay. Yeah. Because as we know, Singapore is a city is a state is an island, right? So it's a country of course, but Singapore in terms of the its geography is more unique is more unified. But in the greater bay area that we are talking about, obviously, we have Vendome as the province and we have Macau, we have Hong Kong. So just now you mentioned about the different systems. Yeah. And the different jurisdictions. Yeah. And the different practice, right? So the moment we are trying to provide just now in Chairman [ UNKNOWN ] his comments, all his remarks. I can pointed two very important things, one is a livable city. Another thing is a sustainable city. So you are not only here to work, you are also here to have your life. And this life is just another for short while is not just for yourself, but also for your family. This is how we define the sustainability in Singapore actually. So I think so back to your questions, how am I going to compare Singapore and Greater Bay Area in terms of the overall, the city configurations? Obviously, the challenge that we have been facing in Singapore is definitely different than the challenging, therefore the opportunity that the Greater Bay area Is able to enable. So yes, we have the different challenges, but I personally would even more prefer to take those challenges as the nutrition right, as the ingredients to further sustain and the prosper greater bay area to make it Into a really international place for the global economy. Mm- hm. And for the different enterprise. And I think just now I mentioned about liveable city and sustainability. And things are nowadays in China people may not have too much doubt about how to make it as the economically viable place. But the moment we talk about the [ UNKNOWN ] city. Or even talking about the sustainability, then people starting to have the question marks flying everywhere. Yeah. Okay. So I think by looking at the city that we are all currently in, which is cultural I in the past 20 years, I have spent all my time in Singapore and before that I was in Chicago, I was in Los Angeles, I was in Taipei. But if you really want me to compare the Guangzhou as the major leading city in this global area with other international city. I would say that I personally do not feel much difference. I think to the very large extent we should this to The fairly open economy and and the policy incentive. So, I think over here we do have a very good basis to turn this traditionally as an old city, an ancient city. Into a future city. So I guess my question about that is, I mean, I'm up here all the time. It's fantastic. I love coming up here. But I have to admit, it's still kind of a hassle getting back and forth between Hong Kong one fella from China and one Joe. Especially when you cross over into Hong Kong and Macau, first of all the roaming charges are murderous. [ LAUGH ] But the infrastructure which is impressive, from an urban planning standpoint still has a lot to be desired, right? You can get on the high speed rail link It's 45 minutes to get to to get to go on job but you end up in southern South Station rather than get where you want to be. Yeah. So then you've got to get a taxi and it it sort of defeats the purpose and the the Jew hi Macau Hong Kong bridge is amazing 55 kilometers. It's the longest sea crossing using bridging and tunneled technology in the world and it's a civil engineering miracle and yet, it still is not performing it anywhere near the traffic levels that it's been designed for. So What I hear is that there's a lot of individual greatness in these individual cities. And yet there still is a kind of a stickiness kind of detachment to them. It can't just be overcome by roads and bridges. Yes. Yeah, I agree. Yeah. Thank you for the questions. I think in the greater Bay areas in terms of the infrastructure infrastructure need to do a lot more. If we want to make this greater pay area which is something that we all want, okay? To make it into more coherent, enable the coherence. To enable the homogenous, right under the heterogenous, we need to go back to the basics which is the infrastructure. So infrastructure, many people they do not enable or do not combine it together too much with the technology. But with the technology, we can change our infrastructure. What kind of infrastructure that we're talking about in the greater Bay Area, just not as you mentioned, if we still need to spend that much hassles to travel from [ UNKNOWN ] To Hong Kong to Macau And the moment we reach to the train station and we have to face another challenge, which is either by the taxi or by the bus by the metro, by the other transportation means, then that would defeat the whole purpose. So the question is how to enable this coherence In the greater Bay Area by the infrastructures. The answer could be in the transportation that will be using everyday. In Hong Kong people use MTR. People in Guangzhou, in Shenzhen We use Metro, we use MRT, Mess Rapid Transit, but many people they may feel that are you talking about to us too? Am I going to ride the metro from Guangzhou to Macau to Hong Kong? Not at this moment, but it will be in the future. Shellfish means in the greater Bay Area, we want to enable this one our life circle. So you can quickly travel between the parts in this greater bay area instead of using the high speed rail. High speed rail as everyone knows yeah we all receive the benefit, we all enjoy the speedy travel but that train station is not going to be everywhere. In Guangzhou you have to go to the south stations, right? But you may have the metro station just around the corner. Yeah. So how to enable this the speed is different. So the things that we are doing in Guangzhou is to have the ordinary speed, the normal speed, we combine the with the express service. So that we can have these two different kinds of service on the same tracks. So on one hand we can rely on the benefit of the spreading MIT station at the different part of the city therefore in the greater Bay Area, so that people can travel very quickly. Yeah So in the future, very soon in the future, people can travel with the metro from Guangzhou to Zhuhai and further down to Macao. So, I think in the future it will get extended into Hong Kong, as well. Chairman Lee, one of the things that will make this work obviously is the mobility of talent and I want to ask you a little bit about You know as you build up your international headquarters in Macau you know what challenges do you face in education and can you circulate your personnel easily in between Macau and Guamdro and the other way around we've got admit it if you could give us a snapshot. [ FOREIGN ] Okay. This greater Bay Area, as I mentioned, has a huge potential for further development. Because there are many benefits. Everybody shared the same habit. They like soup, they like it's always hard to speak the theme song for breakfast, they also be contacted. This is a very good foundation in terms of the talent, this greater bay area is a very inclusive, very open, and have local talent [ UNKNOWN ]. But also world class talents, are all gather here. But for [ UNKNOWN ] city We have a may dance constant concentration of talent people, a lot of universities health care will have all the advantages human talent advantage which is very obvious especially in TCM, this greater bay area has. To master of traditional medicine all in Guangdong know each other today, why is Professor Joe another is another professor. They are the only two masters of TCM, this is our advantage. So why we want to internationalize our group. The international headquarters will be placed in the cow We think Barack Obama is like a British head internally and domestically and externally for us to easy for us to communicate in terms of the talented people is easy for us. So the talent people in Guangzhou and those in Macao can be combined in a integral way. President Xi of China said he has a positioning about my car. So we attach great importance to my car for city of [ UNKNOWN ]. So we are good at what alabi needs. So our master of this air goes to Macao to offer services. He will be more than happy to do that. He goes to lectures in Macau very often. So this can also help solve the talent issue are very grateful that fortune. The global tech forum in a possible year. Come to be convenient, wonderful starting in 2017 will be permanently located in Guam Joe. This is a great impetus to the talent people exchanges in Guam Joe. The flow of people people are learning charter also upgrade gone through technological, scientific, internationalized level great help to us. So we believe going forward since we've been getting better and better. In those efforts and and watch keenly to see and await your, your success, I want to thank both of these, Experts for helping us to understand a little bit more about the greater Bay Area's integration. Thank you very much gentlemen. [ APPLAUSE ] [ BLANK_AUDIO ]

Innovation And Integration In The Greater Bay Area

Learn about actual business plans, prospects and progress from a local business leader, a global bank executive and an infrastructure expert.

You're all doing really, really cool things. I wanna start with you, Frank. But I have to mention this OBE cuz you were awarded the Order of the British Empire. And I asked you last night if this meant I had to call you Sir Frank and you said no, no, no, no, no. That's a different Order of the British Empire, something like that. So what exactly is the Order of the British Empire? What mainly does is it gets me room upgrades now. Okay, really it hotels. It's an award from the country. We worked with the NHS for 20 years. That's our health care service. And it was mainly because we joined up doctors talking to doctors and that hadn't been done before. That's an amazing thing. Getting doctors to talk to doctors get you a knighthood that should tell you so much about the health care system and how dysfunctional it is. But Sir Frank and that's the only time I played that. But you began as a software architect in the financial sector, an industry that's actually been very consumer directed. From mobile banking, everybody on their phone can go and check out their bank balance and do whatever they want now, when's that gonna happen to health care? Yeah, I think we've all seen the revolution with the FinTech and the travel agencies. Yeah. It hasn't quite happened yet with healthcare, although I think the me will tell you different, lots of good things are happening. But we haven't quit had the revolution and I think that's because at the moment You still need a doctor or a nurse. It's very labor intensive. But I think some things are coming along a lot of the electronics. We know we're going to talk about AI in a while. Yeah, That's that's a big initiative. But mobility I mean, the same, the same smartphones that we have that every one of us has, then we're doing A thousand different applications a day on. I mean, we can start to use that as well, right? Yeah. But the moment you've still got to connect with the one doctor. Yeah. It's kind of good. You can do it from home. That's really, [ INAUDIBLE ] Knows more about this than me, but But you're still at the moment talking to the one dots, but I think the revolution will come, we can amplify the voices of the doctors and nurses. So I do wanna come right to you now and in order to talk a little bit about part of the challenges in this healthcare system and one of them is represented here in China. The Chinese population over age 60 will be 324 million by 2027. That's just seven years away, essentially a doubling of this cohort of people over 60 in the next seven years, and you've spent much of your professional life anticipating the challenges that this demographic shift brings to health care. What new tools will we have to deal with this to figure out how to keep costs down in particular, but make get better care to the seniors? Sure, I think most people think about the huge number of people beyond a certain age, and think that's That's the main course of the challenge, and think diseases our main enemies. I would, at another dimension, to health as we all expect to live much longer in our next 50 or 100 years, which is Function. Our physical and mental function ability actually determines much more how well we live beyond a certain age. So in China, I think there are two unique challenges that can be turned into opportunities. One is how we could actually better predict and prevent care dependency. So instead of thinking, how are we going to care for this 300 million people, beyond a certain age or hundreds of millions of people who are dependent and needing care, why can't we think How can we reduce peoples period of care dependency or disability and enable more people to live better, healthier, more active life until the very end of their lives? So predict and prevent, that's something we all know. Technology could enable. Right. And the second thing is to actually have the capacity to deliver care services for those who are then in need of care. And we're talking about shortage of nurses, shortage of physicians and all sorts of healthcare workforce. Right. And to empower more people to be able to provide Comprehensive and integrated care. That's again something AI and technology could do very well. So all the things you said were absolutely true and they all had a little subtext to them called cost. And so I just wanna follow up on that because Rate healthcare spending is going up everywhere. But here in China, it's been growing at a clip of 20 % a year since 2003. That's kind of a staggering growth rate and 35 % of that is out of pocket. So how are we, I know that you've been looking at companies to invest in reducing these costs and there are a number of examples About trying to sort of bring the doctor in a different way to consumers that's much cheaper, and outside of the hospital. You talk a little bit about how we deal with some of these costs? Well, that's, I mean Healthcare becomes a much a burden not only to the population, but also to the government as well. Used to be the healthcare expenditure covered mostly by all the pocket and secure Social Security Fund. Commercial healthcare insurance right now this year is less than 7 % of our expenditure. In order to reduce the cost, I think the demand is there. How we can increase efficiencies is the critical key. leveraging our mobility, leveraging artificial intelligence and leveraging on the on the infrastructures. One of the companies as example is that a company we invest as a major who we know in China used to be, there's a system called the bill for doctors. There's More than 1. 3 million of doctors. We are very trained but they are licensed as a doctor and they do not have any technology support. So what the company do is providing them with the cloud- based platform, which enable them in three ways. One is the clinical disease diagnosis supporting system help the doctor to better Train them with the knowledge and practice to see the patients. The second is that we provide them with the electronic medical record. And the third is that we provide the supply chain of pharmaceutical products to them in order the Increased efficiency have better diagnostics of the patients. And we provide them with very cheap doctors compared to before they are in the very bottom of the value chain. So in the sense we increased efficiency and Decreased the cause in the same time by leverage of technology. When I hear a lot of that all the disrupted technology and health care; so much of it, the really important stuff is the unsexy stuff. Right? It, s just making the trains go faster, it's helping with logistics, it's connecting the dots. There's so much of that and in fact, Just now off stage we had a quick converstation with Samone who mentioned that even in genomics in the sequencing about 40 % of that is AI or some sort of type of learning. You know how do we do this how do we make the electronic health records that were supposed to be so effective Frank. And I know you spend a lot of time on, how do we make, how do we fix those? Well, I think some of it is just crewing it and trusting, you know, doctors are very conserve adaption. You don't want to get to adapt, so, it's like, yippe ki yay, you know, you want a very, very careful doctor and that's what we want. The same time, the challenge is that we want to go forward and advance But simple stuff just sharing the record. So the doctor doesn't ask you the same questions over and over again. It's not a it's just quite simply being connected. Um, you know the London a in a in your own car Conscious, the doctor might have minutes to save your life, and really, really simple boring stuff. [ LAUGH ] But in terms of getting the information that we need so doctors, don't have to spend their time on a tablet, or a system. And here we've got, I've got my now fitbit, or I should call it my Google bit. Yeah. I guess, but. [ LAUGH ] You know we've all got our devices are wearable, are we going to start to see in this transformation, wearable turn to embedded and vegetables to translate, but. I think where we're heading when I grew like many of us, the doctor I went to was like half a mile a mile from my house. Yeah, but now we're connected all over the world. And now we can do so much as you said with the watch. There's so many tests you can do. The hospital is a bit of an old constructs. Yeah. And I think as we're going forward. I might want my diabetes managed by a doctor in Beijing using traditional Chinese medicine but my depression managed by somebody in LA who's very good at dealing with that kind of thing. And I think we will see it become much more global. And [ UNKNOWN ] I think China is in many ways taking the lead in the ability to sort of go outside of the box in some of these cases. Absolutely. Talk a little bit about what you're seeing here. Yeah, I think what I observed over the years is people in tech stop saying we are going to replace You replace doctors, replace nurses, replace hospitals, and they are in love with their products or technology. Rather than actually talking on a day to day basis to people who are already in healthcare, understand where the needs are, for example, in terms of lack for prevention We know four is a big risk for people of certain age to get injured and even mortality. Used to be that people all think we need to ask them to wear something to detect their risk of falling. But what about thinking out of the box not just with your product, but think how much more naturally it could be to just have like a censored flooring at home or in public places to track people's gate, like how they walk, are they having imbalances or are they having abnormal patterns. And then be able to predict Without having them were things that feel unnatural to them. Yeah. Just one small example and other things can be done. If we use the same mentality can we think of not disrupting their existing way of living or working in healthcare, but trying to find subtle ways to. Disrupt or the inefficiency and cost effectiveness. So Ray is is there a business model and putting these sensors everywhere ? Do you see this as an opportunity, like your as an investor saying? Yeah I will definitely invest in that company that's investing in censored Kate sensor you know. Well Ithink there's a 22 from the prostitutes. The different segments why is what we call. For the consumer. Yeah. The wearables which like weekend, the Fitbit kind of stuff that fit into that category, but as a serious healthcare investor, we are still looking for something that we call the vital signal that the signals that can help the doctors and the doctors that have the set of proven standard, that doctors correctness. They can use it. That's the real diagnostics and the ones I think one of the breakthroughs is the one of the monitoring for the glucose that is becoming reality. And so long as we have the breakthrough in those kind of wearable and embedded diagnostic tools. Again, I want to emphasize some vital signal the signals, And we know how important that is like the ability to detect atrial fibrillation which is a dangerous heart rhythm using your Fitbit or your Apple Watch. But the challenges is that you know Fitbit, their stock was, In the tank for a long time to the point were Google just scoop it up. My colleague Adam Lashinsky who somewhere in this room wrote years about a company called Job [ UNKNOWN ] that actually made where the first of the smart watches. And that didn't go very far And we've seen a lot of these companies other than Apple, big one, but you know they're not actually making a living doing this. It doesn't seem like it's that good of business model to investors yet. Frank? Take it begins. Yeah. Well, I am curious about because I mean, if you really look into some of the companies mostly like I mean 50 comes with the consumer company but the right real innovation happens is behind. Maybe sometimes. The companies that get into the real into this space could be the computer like a hallway or computer like Apple, they have a huge like consumer basis to start with. They don't have to do anything. The marginal acquisition or consumers have literally zero for that. And they can have a lot of cash on the back to really get into real technology innovations. And I'm hoping something happening within those big consumer jeans, electronic genes that have the healthcare Break through into the vital signal monetary And it's not the device much as the data that they get from it right data is cash in this world, right data is that currency that everybody in Healthcare's wants and they can learn from that. Need. Talk a little bit about the challenges of that. Who owns the data in this new world? Is it the consumer How we storing this unbelievable reams and reams of data that are coming with, a single image from an MRI or X ray. It's just an unbelievable amount of data. So how are we gonna deal with that? I think it has to start with what the data is used for. Yeah. In most people think home house, which is the sector. I mean, it's very much labor or talent intensive. So you need a lot of people to do the work, but actually it's data intensive. For every person every once in a while, we get a lot of assessment data and then we use that to feed into an algorithm to tell the first line caregivers what type of integrated care services and then They did. And for every time they actually provide the care, they collect additional data that will give them feedback to how well the algorithm did. And how better it can become. And this data I think If we use it carefully to inform all these providers including hospitals, including other institutions and the other individuals in the system, it can really increase the level of integration and the outcomes that related to people's quality of life. But then if we use it just for the sake of developing some data products that the market or the end- users don't see the benefit, then they are concerned who's profiting from my very private personal data. Yeah. Especially in healthcare, if it abused, it could be mean a lot of risk For individuals and the society. Yeah, that conversation has been happening for years now in the United States. I want to see if there's a question in the audience because we've got this extraordinary panel here. We get the lights up. anybody have a question? We have a question right there in the back. Could you just identify yourself please? [ INAUDIBLE ] Thank you for Gwanto Pharmaceutical companies I myself yes I kind of food supplement and you talk about a company a house issue. And I have some questions for you because you know the general proper link, yes very much in [ UNKNOWN ]. So about to a medical treatment after the algebraic of the disease. For example if I cannot to work the how you can have that patients of get up again and live by themselves. So it has become a global challenge where medical spending keeps growing. And many governments have come under severe pressure. Then my question is, why shouldn't we shift our focus before the outbreak disease? For the TCM traditional Chinese medicine, we focus on the prevention. [ INAUDIBLE ] We listened carefully a lot of cutting edge technologies. We believe it's very fearful. Why couldn't we identify the sources of the disease, from the prevention, and people would pay more attention to the health, and well being, and wellness to change Their excercise method and mental health, physical health, I think is more important than spending huge amount of money to cure and treat the diseases. Because we were talking about longevity issues But now what we were advocating is both longevity and in good health because we cannot stop the steps of aging, but we want to be aged in a healthy way after getting very older 90 years. Great. Sorry, maybe I'm a little bit off track. [ CROSSTALK ] Yeah, please. Because I work in the governmental agencies I made a lot of investments in science, and R & D in house. Three answers to to diversity as a policy change, including R & D change. And a lot of budget being reduced for the cure and treatment of diseases. Instead, we invest a lot of budget to the grassroots and primary levels and to do the prevention work. Second from the commercial business point of view US Why they had so many prevention's because one of the biggest pairs in US is the insurance companies that they know in house economics. They should go to prevention instead of cure and the treatment. So insurance companies intervened and market based approaches. They use economics to resolve the problems, the third aspects we use technologies. **** you said, nutrition and the supplements for the micro bio grams, you know [ UNKNOWN ] making strong breakthroughs if we can have tailor made or individualized this micro organisms to have Tailor made the supplements and nutrition. So maybe it's a very good profession for the stomach diseases, for example, so, both the market base and the technology or the advancement can solve the problems. What I want to add is only one point Because there are a lot of interconnections between the two. The prevention in the public health arena, why not enough attention being paid to the prevention. As we rightly pointed out, it was due to the The budget allocation disbursement the mechanisms because our reimbursement system is made based on the consumption of drugs and also the cure and treatment. If that's still the case, we will not allocate more budget to the prevention, but in US they use the modalities To provide the coordinated interest of the insurance company and the disbursement of the money and they focus more on outcomes. Then they would be more efficient and effective at investment. And the more investment would be shifted to the prevention aspects. The gap between the two is the data Especially in the TCM field, we do not have a strong data supports, evidence- based to provide larger services to the huge populations. Now, we are using information data and AI to link these dots. And we've seen dramatic changes already. And in the future we're going to invest more energies at first into the prevention and prediction work. The question in for those good answers, cuz I think there was an important turn in the story. I only got you frank with one minute left or a little bit less but Tencent is investing here in New York here in China rather and we doctor a telemedicine effort ping on is doing they have a investment called good doctor. And so this idea of telemedicine that's been coming around is a way to sort of get around that challenge that you mentioned right at the outset, which is the doctor is right in the middle and you've got to connect When is that going to start to become a reality for people? Well, I was actually with a doctor in Hangzhou the other week at the International TCM conference, and I think he's gonna to start to see happening now. Yeah. And I think with the AI. And I thought Amy's point was very good. Whenever I say I people think you're gonna replace doctors. Well I use the spelling checker. When I'm writing a Word document, the spelling check, it doesn't replace me. You're also married to a doctor. So that is Yeah, well, that's a whole other story. Yeah. It's something to help the doctors and move the doctors along, and I think the lady's question that was very interesting. We're looking now at getting AI to manage diabetes and we think we can manage it In the way that a doctor will just stop you becoming diabetic. Right. Prevention. And I think you're gonna start to see over the next two years. Okay, we're gonna have to leave it there, thank my guest very much. That was a terrific conversation. [ APPLAUSE ] [ MUSIC ] [ BLANK_AUDIO ]

AI, Robotics and Cognitive Computing In Today's Healthcare Industry

Today's modern healthcare industry is being shaped by artificial intelligence, robotics, and cognitive computing.

My names Olivier Oullier I'm the president of EMOTIV the leader in portable brain technologies and profits of behaviour and brain sciences. My passion has always been to bring behavioural and brain sciences into our real lives. To leverage the incredible insights that we learn from neuroscience. Psychology, cognitive sciences and technology in order to improve our lives, and if there is one place where our lives can be improved, is at work. What is really interesting is to have a key issues that we're facing in the workplace are related to how our brains work, stress. And destruction. Stress is something terrible. It can lead to absenteeism. It can lead people to anxiety, depression, and sometimes a lot, a lot worse. Distraction is also one of the key issues nowadays. It can lead to accidents, safety issues. Of course, both affect productivity and revenue. But more importantly, they affect the lives of people. And one of the key reasons we're experiencing stress and distraction in our workplace is because there is a fundamental problem. And the way we designed our offices where expected by organizations who work for to have our brains adapt to the constrains of a workplace. But honestly, it should be the other way around. It should be the workplace adapting to the way our brains work function to what we experience. We should have personalized working environments. Similarly that no employer would provide safety outfits in a factory. That are similar to a person from a person who measures 1. 70 meters or two meters. If you got too long trousers, too big shoes, a bigger helmet, you wouldn't be able to work properly. It's exactly the same with a work environment. How come? For most employees, it's a one size fits all experience. As if it weren't bad enough, the way we're perceived by most organizations is through the results of a battery of test that we undergo during our recruitment process Cognitive tests. personality tests are best. They measure what we feel what we are, at a given point in time. But what happens after a year? Two years working in an organization, we learn things we evolve, we improve We're no longer the same person. And for that matter, we change from one month to another, sometimes from one day to another. And we need to have work environments, interfaces software's that can measure. Understand how our brains work in order to provide us with environments working environments that are tailor made. But in order to record people's brains most of our research until very recently. Happened in medical and scientific facilities. [ BLANK_AUDIO ] Very disconnected from the real world. We need real world evidence. We need to be able to monitor brain activity in real life in order to create conditions, solutions That customized and personalized our working experience. This is what our company emotive has been doing for almost a decade, creating portable brain scanners that wirelessly communicate with computers. Cellphones in order to monitor brain activity virtually everywhere. This allows not only to record brain activity but to make sense of it, to provide information about how the brain works. To provide information about how multiple brains work. If we can collect data on thousands and thousands of people. So far, more than 90, 000 people in 120 countries own one of our brain scanners. And they share the data with us. You know why? First, because we comply to GDPR globally. And second, because emotive does not sell the data. We use this data in order to develop algorithms, thanks to machine learning that can monitor in real time, effective and cognitive functions. For example, stress and attention. With one of our partners SAP, we've used the online monitoring of attention, distraction in order to give some feedback to people because we're not equal When it comes to focusing, some people can focus very, very deeply for 45 minutes, others for two hours. But if you follow someone in a one size fits all environment to stay in front of computers after 45 minutes. If they can no longer focus, this is creating a very, very Difficult environment for the person and nothing's happening. The interface can provide information as to people taking a break of providing intelligent assistance to them. But we've been facing a real issue. As great as our technology was, Affordable, scalable, scientifically validated by more than 4, 000 scientific publications. These technology, well designed, I'm very biased. We can all admit that it's really difficult to walk around during the entire day, wearing it and looking like we come out Of a science fiction movie. We had to find a way to seamlessly integrates in people's daily activities at work. To find a form factor that would not disrupt the way people work. And this is what I'm going to show you now. Our new brain scanner, because we've been able to monitor brain activity with 32 electrodes, 14 electrodes, five electrodes. We narrowed it down to two electrodes, that are embedded in this technology, ear buds that can allow you to take calls. To listen to music, communicate through video conferences, but also to monitor your brain and to be able to have real time measures of stress and attention. I'm going to wear it now [ BLANK_AUDIO ] and to show you. What, we can do it. [ BLANK_AUDIO ] This technology has only been possible because for almost 10 years we've collected data with so many of our brain scanners. [ BLANK_AUDIO ] Now let's have a look at my brainwaves. [ BLANK_AUDIO ] Here, you can see that the contact quality between the headsets and my brain is fine. We can look at how my brain is reacting, how the electrodes are picking up the electric signal of my brain in real time, but it doesn't mean a lot for most of us. What we can look at of various frequency bands that it in cases, some levels are functioning in my brain. And more importantly I can tell you that's if you look at all my brain works at the moments and we can measure. I'm a little bit stressed to be speaking in front of you all. [ LAUGH ] But we can make sense thanks to machine learning. We can make sense of brain data. So now, in order to conclude, let me share with you one thing. We work with organizations around the world applying science, but all the organizations working with us have to accept that our technology is used anonymously. That's human resources or [ UNKNOWN ] the data [ UNKNOWN ], that our technology can only be used in order to remove time of work of people, in order to improve their working conditions. So, if you still think this is science fiction Let me conclude with a little video of how we apply this to personalize the working experience the learning experience with one of our partners. Learning plays an important part in each and every one's working life. We all prefer different ways of learning. Some of us prefer reading some learn better from video and our own circumstances mean we face challenges and when and where we can learn. So what if we could understand your emotional and cognitive state while you're learning? A motive in SAP are working to make it a reality, and adapt your experience in real time. We can detect precisely when you've lost focus, when you are stressed. And what type of learning support you need in that specific moment by understanding the learning material that works best for you, and by understanding your environment. To provide an experience that continuously adapts to meet your emotional and cognitive state. Combining the best in class learning platform from SAP and cutting edge neuro technology from EMOTIV, we are shaping of vision to revolutionize Workplace Learning. Join us in shaping the future of learning. [ BLANK_AUDIO ] There is no health without brain health, there is no wellness without brain wellness. We've worked with the World Economic Forum, the OECD, the National Academy of Medicine to make sure that what we do is legal, ethical and to improve people's life. So, please, board members, executives, productivity and revenue matters, I'm the president of a company, I know about it. But if you have your heart in the right place, and you listen to your brain, you'll make people feel well and everything, I can tell you, everything will be better. We need to improve people's wellness and lives. Thank you very much. [ BLANK_AUDIO ]

This Company Learned To Measure Stress And Attention In Real Time

Emotiv will help organizations to improve workplace wellness, safety, learning and productivity with personalized and adaptive evidence-based solutions.

I mentioned this idea of the genomic revolution which we've been talking about for a while. But we're now in, actually, a revolution of revolutions. There's so much happening. It's not just that we've got Faster and cheaper, radically faster and cheaper genes sequencing technology. The next generation of that. But in addition, we have a whole new set of gene editing tools that are radically changing Science. The ability to actually intervene in our own DNA We have an additional to that, the revolution in AI and [ UNKNOWN ] which we have been hearing about. Which is giving us brand new molecular genetic targets of extraordinary complexity that we never even dreamed of percuing before. We have a revolution immune oncology. Which is helping us to understand how to harness the immune system to fight things like cancer, and we've already talked about the revolutions in 5G and mobility and sensors and everything else in robotics. So my question for you, Simone, to start with, is, is this time different? Are we really in a place. Where this confluence of revolutions is different than it ever has been before. And if so, how on earth do you start to invest in that? I think the revolution is definitely here. It's a revolution of, it's a combination of revolution of biology and Deep machine learning, AI. So for example, if we want to go for cancer early detection, it's almost a dream but is a combination of understanding the genomic features and also the ability Too deep sequencing by using AI tours. Yeah, just a follow up though when there's so many new technologies, how do you make the bets that harness all of them together or do you focus on very specific kinds of tech Cuz your investments are really unique as I look at them. In my experience, I think that formula only applies to venture capital investment or ventyre investors who intend to invest company at very early stage. So, to be susccessful actually the principle Is not to invest, not to diversify. Actually, it's a concentrating to concentrating areas where you can understand the technology or you have the ability to assemble resources that can help you capture the most advanced technology. Yeah. So the key is not to Not to dench the decentralize is to focus. That's the truth, that's intresting. Liching I wana mention this other revolution which I didn't mention, include that, which is the consumer revolution. And so much of the growth in your business making you extraordinary Gene sequencing devices there has been a movement towards things like 23andme and ancestry. com and coloring garden and several others but recently over the summer there was some softness in that market and that affected your stock And you know, it's still sort of hasn't quite recovered. The question is, is that a temporary setback? Are we gonna still see the consumer market dominate in the next 10 year ?. So I see most of the audience a Chinese, can I just speaking Chinese ?. Yes, please. [ FOREIGN ]. [ BLANK_AUDIO ] For the Illumina technology in US they have mass gene company like 23 ME as you mentioned and a host of companies are using gene technologies during their start ups They use a genomics, genomics analysis because US is composed of different races. So race analysis is a key topic. But after all the population being analyzed by the races for the mass genomic companies they are declining in their business. So all these companies are trying very hard to explore. The new areas for example, genes, impacts to the human health to their lifestyles. [ FOREIGN ] And also to the nutrition aspects. Some gene companies were even dedicated to the education of the infants. And also babies and children. So they were doing explorations as soon as they identify the new areas. Definitely they're going to be promising futures in those areas in China, situations that are slightly different Large majority of gene companies are still in its infancy appeared at like 23 magic box and other companies that they have a very good application situations. So a lot of continued investment and still enjoy rapid development. Going into this in a big way. I mean, you've got the UK for example. Which is sequencing 450, 000 people. You've got in the US you've got the all of us. Program at the NIH, which is 2 million, and then you just signed a deal with in China. To do something similar >> Indeed. Last year, we successfully. One bead, it was tendering process, it's in the [ UNKNOWN ] Hospital University and it was a joint project by the Minister of Health, and the most, the Minister of Science and Technology. The Selected the our company to conduct the population cohort stud. This is very conducive and beneficial to accumulate the big gene data for china and. With this data bases is very conducive to study the treatment that knowledge is very. I'm very happy that the [ UNKNOWN ] university and also most and ministry of houses selected our technology, we are going to learn statistics from the UK and the US. As well as those cutting edge technologies in the information technology field in our cohort study. One of the things that ching mentioned is that drug companies are using this genetic profiling to understand how drugs work. There's a another revolution happening right here in china there are 15, 000 drugs in the drug development pipeline here. And obviously, GPC is China's largest producer and distributor of drugs, including traditional Chinese medicines. What are you doing to make sure that there are new technologies that are finding new biological targets for those kinds of drugs? And could you talk a little bit about the effort to create international standards for some of these Chinese traditional medicines. [ BLANK_AUDIO ] Just now, Mr. Lee mentioned a lot about the logical technologies, breakthroughs in the prevention, diagnosis, even the treatment of the diseases issue, even the culture, tissue culture applications. We know a lot of about logical technologies since 1970s. After four decades involvement, remarkable progresses and milestones being made. A lot of new products provided to the humankind to improve the well being of the humans in China [ BLANK_AUDIO ] In the full commercialization industrialization of a gen technology. But is a gradual process. Our group as the largest leading pharmaceutical company in China. We ranked number one four consecutive eight years in recent years. We focus on the biological drugs RND work, especially the whole value chain. In particular, the supporting services in the whole value chain and including the Dagny gnosis by using biological. Technologies and also the biological treatment. We had a lot of strengths and advantages. But in rolling out those technologies we have one gene drug to cure the 10 %. the incidence Hepatitis disease in China, hepatitis B, but the review and approval process in China because there's an inadequate guideline in China available. So our work Progress the very slowly but in this process, the cutting edge technology like from Illumina and the other companies, this would definitely promote the rules and regulation drafting by the city. In China reveal center of the drugs. And so we look forward to that. Just get into this idea of AI and using artificial intelligence, in all of these intersections that we're talking about, and, particularly in the case of cancer and last year on this stage, you said That the cancer cell is the perfect AI cell. I love that, you said, it grows faster, it evolves faster, it thinks faster. It evades faster. It evades detection faster. Essentially, it is a super intelligent cell. And you're also using the same kind of technologies to outwit that AI cell So I think to combat cancer, right? The most relevant factor actually is to be able to detect cancer earlier, once tumor forms it For one CM tumor has about 1 billion cells and it has all the ASL features. So it is much difficult to defeat cancer once it's there. So the best revolutionary breakthrough in cancer treatment actually. Is to detect cancer faster earlier. And given that alumina has done its job by giving us all sorta sequencing. Sequencing tours, different size, throughput, etc. So that part of the leg of the revolutions already in terms of early cancer detection. The rest is up to the industry to come up with the sample preparation tours in order for this whole game to happen. So Croton really talked about a number of companies when we talk about sequencing counsel related sequencing a lot of names come to pop up. For example, 23andMe, Brio, Foundation Medicine, God and Health. So I like to take this opportunity to clarify a bit. 23andMe is for fun, a lot of fun. Because it gives you the, a, gives you the genetic feature As to who you are, what your family tree is and it tells you the medically, what kind of health risk you might be exposed to. But it is not intent for any diagnosis, it is not to be able to detect cancer, definitely not. For $ 99, it wont even give you a deep, give you a whole Genome sequencing. Picture unless Illuminati achieves another revolution driving down the cost, you know, by by five by ten votes, for example. But Ching is already in fact we were talking earlier and if you go from the cost of sequencing an entire genome 20 years ago. From 3 million to thousand dollars. We're pretty close to that now, in terms of liquid biopsies. So this is what you were referring to the ability to detect telltale fragments of DNA, tiny little fragments of DNA and use that to as biomarkers of a disease and progression. You've spun of a company Ilumina called Grel to do just that. And there have been a number of these liquid biopsy companies. How good are they in terms of identifying. Disease progression. To choose? Yeah, I mean because someone says you know, we've got to get earlier in the interview earlier that disease. I think that grill is a you know, I'm very, we're very glad that Illumina help produced a company called the Grill, and Grill 23 and me is for fun. [ UNKNOWN ] is a dream, a beautiful dream intends to detect cancer at very early stage to substantially increase survival rate. What it does is get a tube of blood from you and then try to capture the DNA and RNA released from tumor cell into the blood. So it is relevant from science point of view. But the difficult is that the difficulty or the challenges that it won't be able to tell you or reflect the genomic feature from the tumors from which they originated. So I might be able to tell you You may have cancer but I don't know what kind of cancer it is and how it comes, how it manage to come to you. But without [ UNKNOWN ], we don't even [ UNKNOWN ] to dream, so [ UNKNOWN ] is a beautiful dream but I think there is hope, the Hope is another company called [ UNKNOWN ] Yeah. Strife is backed by very solid. The mission of life is the same as Braille. But the difference is, I think is that allow me to say that was no I'm not being disrespectful to grow I think Griff established a torch which is really important, but thrive is backed by very solid science. The John Hopkins team through decades of research in 2018 has put out a beautiful paper in science. It says, it is able to localize the mutated cancer basically it nails down From hundreds, hundreds, thousands of Anoma numbers will mutations, it is able to narrow down 61 cancer related hotspots mutations. Yeah. Where's that 61? somewhere? So I want to come back and change just a second, but I want to see if anyone has a question out there. And if you do, we've got some mic Wranglers and we'll have a paddle up there. anybody have a question? Okay, well if you do just a second I'll come right back to you. Ching we talked about this idea of using AI though to be able to make a little bit more sense to. To ask those impossible question if you will about what chain integrations are most likely to cause disease later on, whether it's a misinterpretation or a delusion of a specific nuclear tide or whatever it is, we know that in some cases some mutations are more important than others. Can you talk a little bit about how alumina is filling that gap? Yeah. So, it is like this alumina. The way we fill the gap is different. We also have sold a lot of R & D of different decisions and diagnostics methods. However, we pay more attention. We rely more on opening our technological platform to engage many companies on our platform to study to research, diagnostic of diseases, the nutrition models and mechanism. For example, in China right now in tumor Way a burning rock in the, when work was done. So microbiology, [ INAUDIBLE ] partner with [ UNKNOWN ]. A minor project. Illumina will open our platform, not we ourselves using a I- tool to explore the technologies that exist. Rather, we open up our system. All the IVD diagnosis interested companies can work on our platform to do their R & D. So the development results, indeed, is changing every day. Basically globally in China every day we have paper coming out. To see the diagnostic of many diseases is marching making progress. So in this aspect, we are very unique company relying on ecosystem to get the solutions for human diseases, diagnostics. [ INAUDIBLE ] machines and tools are used in 90 % of the worlds sequencing. So, it's kind of an amazing figure have you managed to capture the entire market there. Let's see if we have a question from the audience, anybody? Yes [ INAUDIBLE ] Yeah, we got one right there [ UNKNOWN ] I identified you but you must well identify yourself again Martin Raves from the BCG Henderson Institute. I want you to ask. These technologies have profound functionality because one of the problems with pharmaceutical researchers stagnant productivity, valuable drugs per dollar or unit of effort. Have we reached the point yet where these technologies are impacting on that stagnating RD productivity? Anybody, will you take that or madam Lue. Yeah, if I may. Yes I think sequencig There has a clinical application either to test cancer patients or go for early detection. But sequencing is also very relevant in basic research. For example, a company called the Foundation Medicine. It has a box of 500 genes. It really is very relevant in enabling research To once we identify a new mechanism, but how to make it a clinical relevant to what to link to what gene mutation to what disease, I think gene genome technology has come to a point where it is. It is very enabling to basic research or clinical research. Yeah. We want one more question. We got time for one more question. Anybody? Like son? Yeah, anybody? I thought I saw another hand. Somebody shy out there doesn't wanna ask a question. All right. So, Madam, I've got a question for you on again, getting into the idea With so much histories of science in the Chinese drug development world, and yet there isn't that much, there aren't that many Chinese made drugs that are actually being sold overseas and markets overseas. How are you beginning to change that? And we saw one approval and FDA approval for a new Alzheimer's drug just the other day. But this is it needs to be a paradigm shift for China to enter the world of innovative pharma. Thank you very much for your question. [ UNKNOWN ] So as Mars, this disease is an important disease which is become more and more in a society, everybody is challenged by this Alzheimer's. So Traditional Chinese Medicine has 5000 years of history. Is very employed a very important role for the environment progress of Chinese society so traditional medicine, so it has its uniqueness in treating these diseases. So my company has been dedicated to our RND the of this kind of our traditional medicines. So, right now one of the drugs we did we have completed all the clinical work for early stage or mid stage Alzheimer's be. It has very the advocacy is very good but internationally, we do not have a appraisal evaluation standard. Or criteria so to speak. So this product has been placed in the drug appraisal center of China. Actually our product this product is even better more efficient than the just approved by the government [ UNKNOWN ] Alzheimer is better However, we still want to make more effort to promote democratization the market launch of this program, so we can have a very good advocacy. So this traditional mindset can serve a bigger segment of the population. It is our belief traditional Chinese medicine, incurring preventing human disease will play a even bigger role. Thank you very much. We're gonna have to leave it there. Than you Madame Yu, Lee Ching, and Simone Song, appreciate that. Thank you. That was a great conversation. [ APPLAUSE ] [ BLANK_AUDIO ]

Genomic Sequencing Technology Has Become Indispensible

Leaders and investors in sequencing technology share the latest developments and breakthroughs in the space, and discuss the implications for humanity–and business.

Fring, thank you so much for writing really pleased to have you here you have a really remarkable background you were at one of China's largest automakers G. Lee for 5 nearly 6 years and then supervise their acquisition of Volvo which was one of the most exciting. Deals in the industry and has been a real success since and you were really want to Julie's top the most executives and yet you've chosen to strike out on your own and work in a in a startup. Tell us why you made that decision and what was it about the the EV landscape that you found to be so attractive that you would leave [ UNKNOWN ] Well because I know [ UNKNOWN ] coming We need to do a little differently. Ridght. [ LAUGH ]. But I think after working for Fortune 500 American company, Fortune 500 US European company and Fortune 500 Chinese company and I was thinking probably I should do something by myself doing something pretty much from scratch from zero. It would be much more challenge and much more exciting to me, and so I decided that it was on 15, that I should start a new tech company focus on automotive and obviously the elects vehicle Was in the very early stage right in 2015. If you want to start something new, you want to do something in a very new industry, not something has been there for 100 years right. Established competitors, it's astonishing to me how quickly this particular new industry has has moved and and developed Your company is, what? About a year old Zendt, right? When did you launch? The company established was established in early 2015. We started in a vehicle about a year ago. A year ago, September 28, 2000. Right. Yeah. We spent. It took us about forty six months. Before we deliver the first car to our customer, and so the company yeah, so far for five years. That's pretty fast though to go from zero [ INAUDIBLE ] How many you've delivered how many cars thought? So far with deliver over 15, 000 cars on the road, right? It is not that fast actually because we hope we can do even faster. Because we are doing something completely new. On the other hand, our user and our customer was expecting they can always get in a Latest version of the parameters. So some of we have about 3000 users placed order earlier 2018 you even without seeing anything from us. Wow. So we can understand there was anxious to get our vehicle and then that's why we were telling our team we need to be fast. Yeah, with the good quality work, of course. Give us a sense of the the competitive landscape right now, because there are hundreds really of companies in China that are trying to make electric vehicles. And there, you know, you're one of a number of real standouts. But help us to understand how many players there are? And We're up against them. Well yes interestingly this is not my first time to get into this kind of situation when a returning from US the Chinese just open up the passenger car market to globally and then you'll have almost every single global giants come to China right and that you have about I don't know at that time people saying about 300 different kind of. Stop focus on the engine core that was about 15 years ago and then the competition fears and then turn out that some of the global competitor has been successful here and then very few have the chinese local. Quite successful like the [ UNKNOWN ] great wall and BYD, and most of them die, and then [ UNKNOWN ] that die. I think this is the second time in electric vehicle sector, people if you don't understand what happen past in the engine [ UNKNOWN ] you are quite surprise As a matter of fact, the stop for electric vehicle the number of stop of the actual vehicle actually is much less than when the 15 years ago 20 years ago when the engine passenger car started. On the other hand, we are doing something very differently. A lot of people only looking at us as transportation. To provide a vehicle itself, this vehicle was quite different because the power source was totally different. So you spend a lot of time you have to develop a new technology on that. But on the other hand, we believe it is also a smart ability terminal. That's we strongly believe 5g can play a key role on that. And thirdly, we also doing something our friends in a state great China stay great was calling. It's a mobility power bank, because it is a factory, a power band running on the road, helping the grid to balance their high and low. So There's so many new technology in these three area and that we're trying to do the product delivered our customer. It's totally different new, I don't see any established company had any advantage in these three areas. I see that's really interesting, and you mentioned something to me just a moment ago that I was really struck with. That you're the only new electric vehicle that enables not only being charged by the grid but also distributing power back into the grid as well. And why is that and why is that important? Exactly. We announced with the epic cooperation with the state income state great China. It's a technology with director Vito [ UNKNOWN ], the If you're looking the state the great companies not only in China globally they always struggling with how much they're gonna invest and how to balance the pic season and the last season Yeah Every day and you don't do the pic because he's going to waste a lot of your money, but you don't do the low because it means people cannot Right Get where they need it. In their mindset which exactly to what we thinking two years ago when we start a project, if you have millions WM motor vehicle on the road, you will naturally helping them to balance when we need the power and take it from the great when the great was needed a power we can use the vehicle feedback the electricity back to the green With the mechanism to motivate the user willing to do so. And so does that help bring prices down in some way for consumers are? Definitely I think that it's not only dramatically reduce the cost to using the electric vehicle, helping the grid company to reduce the capital investment significantly. But also that the if you drive more, there might be a chance to make some money out of that. Wow, that's that's kind of a cool model. Yes, exactly. So it is it is not only a transportation tool, it is again, this electric vehicle and it is a smart terminal. It is also a. Power bank helping the the user had a different way to have a bad experience but also there's a mechanism help you to motivate. And tell us how how 5g is a factor and all that? It was so exciting on that we're working on this project two years ago we hope we can become one of the first technology startup company can launch the five ticket car on the road The 4G is like you're driving on the high speed interstate highway and then 2G, it's like you're driving in a country road, but 5G is like you're driving in an airplane. People are talking about speed, people are talking if you're using the mobile phone, PC, computer, you have a better user experience. But remember, this only improve your User experience. the 5G application in the car is dead. And it's a death and like leaf, it is a safety issue. Right. So because when you do a 5G car, you want to use the technology to improve the autonomy drive. If you don't have 5G, the car in there is not safe. It's a very good job so it's a debt, Lift issues and safety issues. It not only improve the user experience . So, that's why I think the 5G application in other industry other product is fine. It make you feel better. But in our industry it makes you more safe. May you survive if you want to go really want to go to these autonomous drive vehicles. If you don't have 5G you just cannot make it. > Doesn't make it easier for you to Have upgrades for the software of [ CROSSTALK ] Definitely, definitely. When you're doing the smart vehicle, what we are working on it's always struggling where you're going to put this computing powe. In the loca, l on the crowd and then you need a strong connection between them. Obviously, the 5G provide a better speed, hundreds times faster A much lower delay, probably 100 times better. The delay will make the experience of the autonomy drive very different. Safety issue, right? And then the bandwidth is much better. So those Features 5G can provide will make the economy drive vehicle, will make the we call the smart copied in a safer way and much more better customer experience. Tell us a little bit about the model that you're offering right now is the X5, right? And Where is it positioned in kind of, I think people would generally recognize that Tesla is at the high end of the price point- Right. You're somewhere in between, what do you What are you offering at what price point? Well, we are starting price about $ 30, 000. [ UNKNOWN ]. I don't want to compare the brand motor with Tesla although we are probably the only one in China we're learning similar. We are the only electric vehicle stop had own factories. Right. You know as you know Tesla has put a lot of effort building. Factories in China. A lot of people when they stopped the electric vehicle company they don't believe it's important but looking at what Tesla doing, which more or less similarly to our strategy, our will build our own factory and own factory. Not only helping The quality of the product actually if it's helping us to reduce the costs in a much faster way, and that's why we can offer $ 30, 000 as our starting price for our product, pretty much the vehicle similar as the Volkswagen Touareg. It's a we call it a plus. But typically if you're not from this industry you don't really know what's going on right. What kind of vehicle it is in that size vehicle $ 30, 000 I think we are the only one offering we are not going the last receptor. Because we believe electric vehicle in the Law Center it's very difficult to survive. By the volume they have. So, we are going to the larger sector in the whole electric vehicle market which is the, the sizewise, is exact the size that we're offering. Pricewise, exactly the price we're offering thirty thousand up in that sector. So, have you see Tesla then as being a NAB luxury sector and To that extent, I mean how much do you see them as a competitor with you? Well, if they continue going down to market. We'll gonna be coming head to head competition. At this moment, not yet. I understand their strategy in the US. When you start a company you need to do a lots of friends, a halo cop to attract the people's. [ INAUDIBLE ] Eyeballs, and then you start doing the Model 3 and Model Y which is Model I probably the same sector we are in right now. [ INAUDIBLE ]. But, my company started to escape in that marketing tool. We believe the Model S Model X was the marketing costs director may everyone knows, but in China like a Xiaomi Like how far away they actually go directly in the mass market, the largest market sector. And later on might consider the more expensive product. And but in China, you don't need to spend billions billions of dollar to do a model X, and model X like a Tesla. And then eventually, Tesla would go to model Z or model Y which is exactly the market we are competing which will make you survive and make you very profitable Do we have questions for Freeman and anyone? I think our mike wranglers are here if you look for them. While we look for questions. Talk to me a little bit about subsidies because these have really accelerated the early development of this industry. The government has been very aggressive in trying to support electric vehicles. Now, they're saying they're phasing this out. How much of an impact will that have on the industry, in general, and you, in particular? Well, first of all, we are one of the [ UNKNOWN ] company welcome this reduction of the subsidy because in the past four, five years lot of Chinese users buying the electric vehicle simply because of the subsidy, not the product itself. And then on the other hand, 2019 is a very different year. If you look the subsidy was reduced much more than what we thought. On the other hand, the ICE vehicle, the internet combustion engine car. The UO5 up UO6. So make the whole Market very very different and difficult to predict and then in if you don't have the UO5 awkward UO6 issue, we will see that most people will interesting, there's the vehicle we probably go to. The company with a product like a Debris Motor and some of our competitions focus on product. But this year was totally different to predict, right? There's so many things going on the same time. You have the subsidy reduction. But again, we are welcome. We believe Before end of 2020, the subsidy for electric vehicle will go to zero completely before the end of 2020. Exactly. Wow. So right now, I think last year, electric vehicles were something like 1. 2 million. Is that right? Last year, interesting in the western country and Chinese government, you have a different way to call it electric vehicles. Chinese way actually is much more narrow because the Chinese way you don't carry a lot of a hybrid into an electric vehicle. And then in the, I will call in the narrow definition, China so about 700 80, 000 electrical last year, and this year after a few reduction, the prediction still will be 1. 2, 1. 3 million. 1. 3 million and this isn't a market that's 20 million. The whole pattern indicates about last year 27 million, we expect about 26 million. So there's a huge room for For the electric vehicle going into Patreon com And the difference is that the overall cost of your current market is flat declining. Yeah ,>> That moment where you are projecting Your greasy it in a Patreon call. I think that would be the second year in the last 25 years continue going down for Penza mainly from the ice the house. The electric vehicles still growing quite quickly yet today the number about 30 % people quite disappointed because everyone's expecting us grows 100 % but looking at the Chinese industry, how many of them can do the 30 % growth so far this year. So we still think this is a fast growing industry, probably not school desk as fast as what we think We've got just a few seconds. You mentioned that you're going to be back in Guangzhou in a couple of weeks to make an interesting announcement here. Do you want to say anything about Yeah, thank you clean for reminding me. On November 22 in Guangzhou Auto Show, we're going to announce our second model. In the market year six, it is gonna be a very exciting car and bigger, and smarter. Yeah. And obviously, it's [ UNKNOWN ] better, again, it's a pure electric, we don't do any engine because imagine the 5G cannot run on an engine car, 5G only running on the pure electric cars. The pure electric car Very exciting. Well, we look forward to that rollout and and other things that you will accomplish yet to come. [ INAUDIBLE ], thank you so for joining us. Thank you. Thank you for having me. [ BLANK_AUDIO ]

How 5G Will Change The Way You Drive

How can 5G technology transform mobility and the automobile industry in particular? This long-term auto executive shares his forecasts and aspirations.

Good morning everybody. Paul, thank you for being here with us. So this is probably going to seem pretty basic, but what is 5G and why should we care? You know Michal because everybody thinks 5G is about speed, right? Everybody thinks 5G is speed, right? It has nothing to do with speed. It's all about money. Really, it's all about money, quite frankly. So let's have a think about this. In the 4g era 3 and 2g era, the cost for the telecom companies is increasing the operating cost increases. 5g is cheaper than 4g. Mm- hm. All right, not the capital costs but of the overall perspective, yes. And just now you heard from Klay talking about things like in the enterprises transforming the world. If we look at 5G very specifically in health, let's take a day in the future. You can have virtual consultations, you can have holographic solutions all based on 5G, you can't do this in 4G. But everybody int he world thinks that 5G is about smart phones, smart phone. You're not going to download Spider- Man in three seconds, you don't care about that, you're streaming. Okay, speed is a part of the overall picture here though, and so what kind of speeds are we talking about, what's possible, Today. So let's give some examples. I know while it's always a hot topic in the US, but we're delivering avout 650 megabytes to rural US, rural economy thing is using 4G. Mm- hm. So now where's 5G gonna take us? 5G, one to three gigabytes per second? Very easy to achieve using 5G technology But again, it's not about the speed. I telecom operator China Mobile China Telecom journey. They can't monetize all this speed to make a user happier or get more money from a user to make more money. Mm- uh So, to monetize speed for equal consumers is very difficult. Unless you move into gaming or holograms and things like this. But the real money, the real transformation for society, and that's what 5G is about, is really moving into the enterprise or the B2B business in manufacturing or health for example. Okay, so give a few more examples. You mentioned manufacturing health Some of the the use cases there are obvious what are some of the not so obvious use cases that you're starting to see or could see down the road in the next couple of years or so. Sure. So let's take one that has very little money attached to it at all. And that's cool, I thought it was all about money. It's all about so let me explain how me Hi It's the money not directly, yes? Let's talk about connected ambulances. So in the UK they have a concept of connected ambulance. And I'm sure here in China, as well as Guangdong on Beijing or Shenzhen, it doesn't really matter. But ambulances being connected, with the high technology equipment inside, need low latency, and they need high speed. They save lives if we can do this. Now saving lives directly doesn't have a lot of money, but to the politicians to the people, there's a flow on effect, which is why it's always about money. But the challenges that today, the government says I want four or five G to 95 % of the people. But you know, when I'm in the UK, I can't travel on the in one. Without a cold dropping. If I'm in Australia, a call drop, if I'm in the US a call drop, let alone have a an ambulance with high technology built inside connected by 5G. So you can see that the telecom operators will have challenges. But what I see here in China is that we are deploying 5G technology on the lamppost. The lamppost so where the cars are and where the people are. So, in China, we think differently. We think about execution, we think about where's the business benefit to society. But in a lot of other countries, you know, they're trying to say whose first the race to move forward. I was with Korea telecoms senior vice president on the weekend and the World Economic Forum in Dubai. And he gave a very good example of how to save lives for people who are lost. Mm- hm And you have here very good examples in China where within half a half an hour, you can identify people because of all the cameras. But the cameras, the only way they can see So what they've done in Korea is they launching dirigibles, like A ships and they using 5G control these so that they can see this here in China we're using drones with 40 megabits to be able to come back to be able to find the criminals, the speakers. So these things change lives, these things improve society, they improve security. But you're not saying that China doesn't care about being first, are you? Because you mentioned in other countries, it's about the race and that here, it's about what's better for business and what's better for the people. We just saw an announcement that 5G rollout Here in China is actually ahead of schedule, there's a reason why these announcements are put out there, so, Of course. What do you make of the race? [ UNKNOWN ], look it's, of course that's a marketing message, whether it's a marketing message between two companies or three companies, or it's between one, or two, or three countries, yes? Everybody would like to claim they are first, they are first, they are first. But let's think about the real benefit. I mean, you can say your first and then everybody's gonna be saying but why can't I use it? Or you said I have a first in in health. Look, we have a great example between Beijing hospital and one of the provinces with remote medical robotic based over 5G surgery. That's a first But that's one. How do we scale that across the whole industry so that rural provinces have access to these sorts of things. So you can be first, but do you have the business model? Do you have the ability to execute? And the difference quite frankly, is if you look at the incentives the way they driven here in China, I can still remember in 2014 6 countries in Europe spent 18 billion euro on 4G licences. At the end of 2014 only 60, 000 4G base stations 60000. Here in China just 1 telecom operator A couple of $ 100 million equivalent for the license, 720, 000 by stations 4G at the same period. So you see the incentive policies are quite different. Now you come to 5G. UK 1. 4 billion Pounds, Italy 5. 6 billion Euro, I'm not sure how much in America. But here in China spectrum spectrum spectrum incentivize, try to get these things moving. It's more about delivery than saying I'm first and then suddenly finding you have nothing to do. Okay, well, you basically live on an airplane you spend your time going around to a lot of countries. We're all very aware of the situation with Huawei in the US. Your motherland Australia is not all that, [ LAUGH ] Much more welcoming to you either. But talk about what you're seeing in other countries because they're the world's big, obviously and you guys operate in many different regions. Who is, other than where we sit today, what regions of the world are really pushing this aggressively, and what are you seeing about different strategies and how they're rolling out? Okay sure. So first of all, here in China, if I'm not mistaken, as of last week, we have baout 45, 000, Yeah, 5G base stations just here in Guangdong if not probably just in Shenzhen. We have at least ten million people who have pre registered for 5G. Let's put that in perspective in South Korea. You have KT which has 1, 000, 050. Okay, just put the numbers. So, who's gonna move forward and, backwards and, things like this in terms of this race you've set for consumers. In the Uk all four operators so, the United Kingdom all four operators have announced strategies where they've already deployed in between 10 and 15 cities through out the UK. Now, you have countries like Germany. Okay, Germany's become very different with a company like Siemens getting spectrum. And the reason they're doing that is because, Siemens is a big, big Manufacturing Corporation. And I think everybody knows the company, very reputable, very, very clever, very innovative, but they can see that if they deploy 5g in the factory, they save about 1 % productivity. That's about a hundred billion dollars. Right? So the opportunity can be with people for consumers. You talked about speed the opportunity can be for low latency in hospitals, and in medical the opportunity can be in many connections connecting all these robots here in China with Huawei were experimenting with other manufacturers You know this room today, now we have a lot of people, maybe 200 people here. But in six hours, there's nobody. But tonight we can bring in half a dozen robots, connect them to 5G here in this room. Connected to an AI platform in a cloud. And then the robots will self organize themselves to make. A bottle or maybe a glass tomorrow? Yes. So we can change the nature of manufacturing because manufacturing for the last 150 years has been very linear. You do a job, you pass it to pull back in the old days, right. That was linear based manufacturing. Today robot A does a job even in a car factory passes it to robot B, passes it to robot C. But you imagine if these are all self organizing it completely transformed this manufacturing So you have an example also in Norway speaking of older industries that are being disrupted and revolutionized, can you talk about that? So in Norway we have a concept called the facial recognition of the fish And in Norway, they have these big fields. So Norway does two things. The first one they have a lot of oil, oil and gas is they make hundreds of billions trillions of dollars in oil and gas, but their second biggest industry Smoked fish >> Is fish, salmon very specifically. So if you go along the Norwegian coastline of about 5000 kilometers. You see rows and rows just like this, of this stage of circular fish tanks in the field. Now all these fish tanks are connected by fiber to ship which is connected by fiber to the land. The fiber breaks, the maintenance cost is high, they need a lot of people to manage the ship. They're monitoring the fish. They're feeding the fish remotely. They're analyzing the pollution and the water, the temperature and all the pollutants. They're analyzing over the fish feed. Now when we do 5g, we're bringing 5g in from the coastline directly to this fish farm. So we save money because we don't need people. We have higher quality of cameras, which is why we can recognize the parasites on the fish. And yes, we're gonna be recognizing the fish themselves because it's increasing productivity. Increasing productivity lowers the cost, you make more money. So you're not kidding. It's really is facial recognition for salmon. Absolutely. Wow! We save 20 % on the on the feeding of the fish, about 4 to 5 % on stock improvement through recognition of lice and other things. And then we save about 150 million dollars on on manpower saving. Wow. Okay. I wanna go back to talking about, you say I'm calling it a race. I think everybody calls it a race at this point. But they're clearly China has the first mover, first manoeuver advantage here. What do you see going forward? I think we're all aware of where things stand in the US and the issues with Spectrum and of course with suppliers. Yes. But do you see that firs tmover advantage sticking over the next few years Or is it something that could look different a few years out. What would it take for it to look different? That's a very challenging question. But you see the stimulus, the need, China's understood a couple of things that I've seen since I've been living here and working in Huawei for the last 11 years or so. They understand that to move forward, you need to leverage technology. So which technologies? Artificial intelligence IoT, and specifically through Huawei, five genius. So the Chinese government understands that these technologies are intrinsic To economic growth and industrial development, they understand it. They understand it so much that they incentivize, It's a bit like how did why, what how did Ali Baba and 10 cent and others move forward. Just go and do it we'll see how it works. So they encourage these things. In the west we have a regulator, right? What I see is we have regulations. But in China, I see enablement and innovation. It's very different. So, how to make your saying others catch up or what would it take? I travel around the world I make most of the Presidents, Prime ministers, ministers, regulators, everybody, all the countries have kings and queens and this is my Explanation and suggestion to them. Change regulatory policy to enable investment, to enable innovation, and you will transform your economy. That's what's required. Here in China, 45, 000 [ UNKNOWN ] in one city. In one city. But into this year, there will be three of 400, 000 sites just within China. The rest of the world will be similar. Most of that is actually in Europe and the Middle East. Why the Middle East? Because the government's administration's they understand they can't survive on oil forever. And they have real requirements and they want to transform. The Minister of Dubai, I was on stage with him in the World Economic Forum in Dubai. If you listen to his vision and what he wants to fix, understanding technology, including things like AI, not forgetting security, not forgetting privacy, but to have mature discussions about privacy and security, rather than scare mongering and saying, we can't trust this, we can't do that. Collaboration is far better. Then, trying to isolate. I know you've been asked about this repeatedly, you just want and, did a bunch of interviews in the states and, clearly it's been a very hot topic. But, this offer or, dialogues that Justin whatever you wanna call it Licensing 5G technology to US companies. How real is that and what could it look like. Okay. So if we were to take at its basic, the basic premise, which is Western countries and led by one administration, I'm not gonna say one administration is right or wrong. That's not my job. But if we say that that's the first premise that there is a fear. So why always made an offer which is very simple. If you really fear it will license it to you. You can pull it apart, you can fix what you want. And you can develop you can compete with Huawei. You can OEM you can do what you like. That's a fair offer. Yes. People say it's an unusual offer. Nobody's ever done this well, in 2003 while I did it with Motorola, between 2003 2008 we licensed their 3G technology to Motorola, a Western company. Huawei, the same thing for technology. There's nothing special about it. It's it's an OEM arrangement, but it's an offer that Mr. Ren is putting out there to say If you really believe that there's no competition in the world or you'd like an American champion or you'd like to use your own version of this, please, we're open. And this is an example if you listen to Mr. Ren, he's very forward thinking He's very pragmatic in what he talks about? Don't take too much market share. You must be part of an industry supply chain. Right? We must buy from the US. US best buy from China. That's fair. That's go global trade. So if you want these sorts of things to move progressively forward, then we need to think more laterally about solutions and we need dialogue Mikheil. Agreed. A lot of people though have called it more of a call my bluff kind of offer. What likelihood would you give this actually happening. I don't speculate on the future, right? I'm a technologist, sorry and try to be a bit of a business man or an entrepreneur. No idea .>>> Okay ,>>> No idea. Sorry . Okay, fair enough. Another question for you. You mentioned rural areas in the US specifically obviously, that's something that's of interest and of concern across The world and so as cities and urban areas are increasingly becoming more connected and getting 5G. What does that do to the digital divide that exists in so much of the world and how are you addressing? So that's a very good question. The reason it's a good question. It was one of the hot topics in the World Economic Forum in in Dubai on the weekend. And there is the fear that the gap gets gets bigger, that the rich get even richer and through these sorts of technological advancements, whether it's 5G [ INAUDIBLE ] So, to put things back in perspective, remember I said 5G is cheaper than 4G is so what we do know is that 5G is like a big bucket, so, okay. Like a big bucket of water but, it's a bucket that holds more than it's equivalent 4G. So, if you're going to invest in this infrastructure for a similar price, you get more. So, you get more bang for your buck, more bang for your buck means, I can get more customers Which means I'm incentivized to actually deploy because remember, the telecom companies are commercial entities. But the government needs some sort of stimulus to try to get them to, to deploy these in the rural areas. So any common infrastructure is a value to the rural economies. But when I was in the US the most interesting comment I got back from the Midwest. Companies. The reason I love Huawei, the operating cost is zero. The product doesn't fail. Mm- hm. So that means their operating cost is even lower. And the biggest cost for a telecom company is operations [ UNKNOWN ] opex, opex, opex. But coming back to the capacity of 5G, it has the ability to give more to more people. For a similar number, what we've never spoken about is that 5G can reduce the carbon footprint. Everybody talks about speed, but we know if we continue to deploy 4G across the world, you will double the carbon footprint of the mobile networks and if we use 5G, you reduce that. So these things are all interrelated, right? But five gene rule has very good application. Well, we unfortunately need to wrap it up, but we look forward to having you back and hearing more updates a year out, hopefully. So thank you so much for being with us. Thank you very much for having me. [ APPLAUSE ] I will see you back today. Certainly. [ BLANK_AUDIO ]

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