In July 2017, Beijing set the target to make China “the world’s primary AI (Artificial Intelligence) innovation centre” by 2030. Whilst a detailed plan didn't accompany the goal, it sent a message reinforcing how serious China is about AI. Such a signal is almost always accompanied by investment, policy and supporting regulations (or lack thereof) from Central Government. In early 2018, eagle-eyed Chinese spotted AI-related books on Xi Jinping's bookshelf, highlighting that the mandate is being supported from the very top.
source : https://www.theverge.com/2018/1/3/16844364/china-ai-xi-jinping-new-years-speech-books
The vital ingredient for AI is the data that fuels the machines that learn from it. Unlike in the West where data is becoming more difficult to access as a result of heightened privacy legislation, China has very liberal rules. Chinese consumers are also among the least concerned about privacy and rate convenience as more important. On top of that, between some of the highest ecommerce, mobile payments, general smartphone and o2o (Online to Offline) usage rates in the world, coupled with the “datatization” of public spaces through facial recognition, the breadth of data-sourcing opportunities are second to none. China has so much data, it needs AI to make sense of it all.
source : http://agency.marketingtochina.com/investment-in-china/
There has been no shortage of news about how AI will touch most things we do including our education, whether or not we're offered a job, romantic matches, bank loans, how we are entertained, self-driving cars, and even the scarier things such as military drones. In China, 'keeping the population safe' has become one of most commonly cited applications. Yet possibly the most underreported driver for why China needs AI is to address the lack of youngsters being born to fill the gap in the workforce, as the ballooning elderly population retires.
While AI has some way to go to being able to match humans for feelings and emotional intelligence, improvements are happening. This is where things are getting interesting.
The global race for AI supremacy has illustrated just how far values differ between China and the West, resulting in different prioritisation in AI algorithms. This was evident during an AI ethics seminar in London earlier this month which highlighted that there is no global ethical standard for this very important technology which will impact us all. Codes of principles written in the west tend to focus on fairness, transparency, individual rights, privacy and accountability. Chinese AI ethicists prioritise values that are open, inclusive and adaptive, adding up to “great compassion and deep harmony” - collective good rather than individual rights.
http://news.chinaskinny.com
These values don't just provide an interesting perspective on the cultural differences between the West and China, but how AI's execution may differ in China and how it will shape marketing here. Most of China's tech giants are already using AI to offer adaptive and personalised offerings that make life easier and more convenient for consumers. This is already impacting marketing and will increasingly do so beyond the smartphone, such as future evolutions of New Retail and when personalised Out of Home advertising comes to the fore.
It’s China’s World: As the Chinese Century nears its third decade, Fortune’s Global 500 shows how profoundly the world’s balance of power is shifting. American companies account for 121 of the world’s largest corporations by revenue. Greater China companies account for 129. For the first time since World War II, the US isn't at the top of the ranks of global big business. The US is still ranked first for the top-50 and revenue, accounting for 28.8% of the Fortune 500 companies versus China's 25.6%. 82 of the Chinese firms in the Global 500 are “SOEs”. Whether the 21st century becomes the Chinese Century in the full sense—with China dominating culture, ideals, and concepts of human rights and human nature—remains to be seen. But at least in business, the Chinese Century is growing intensely more Chinese, and faster every day.
Chinese Consumers Rate Quality Above Price: 91% of Chinese consumers agree that when making a purchase, quality is more important than price, although when it comes to basic daily offerings, value for money is still the top consideration according to Mintel research. Consumers are willing to spend more for broader, self-indulgent experiences; as many as 84% of Chinese respondents who upped their spending on holidays in the last year did so to treat themselves. 81% are interested in trying something new rather than sticking to the familiar, such as buying a new product or going to a new holiday destination.
further readings
https://startuplivingchina.com/complete-guide-wechat-marketing/
Vivid Hopes to Simplify Access to China’s Burgeoning OOH Market: China set to be the second largest Out-of-Home (OOH) advertising market in the world by 2022, valued at $9 billion, yet it remains fragmented and complex. The White Magnolia Plaza on the Huangpu River in central Shanghai is an example of the platforms available, with the screen extending over 23,000 square metres over two sides of the building - more than three times the size of a football pitch.
https://www.prolificlondon.co.uk/marketing-tech-news/digital-news/2019/07/vivid-hopes-simplify-access-chinas-burgeoning-ooh-market
No comments:
Post a Comment