Innovation workshop chairman and CEO Kai-fu Lee
At the strategy meeting of Zhongtai Securities last week, Kai-Fu Lee pointed out in his speech that the Internet industry dividend has faded away, the real usage of App has been declining, and the way of increasing traffic has ended. Therefore, Internet investment can no longer be regarded as one The overall field, and to subdivide what is the real outlet is growing rapidly, optimistic about the five investment opportunities: 1. Artificial Intelligence: Translation, Face / Image Recognition (eg Security, Medical Imaging), Speech and Character Recognition, Big Data Analytics (Data Marketing, Wind Control, Finance), Driverless (Industrial Robots / Home Robots) 2, culture and entertainment can form the brand of high-quality head content, children like to watch the content. 3, online education. 4, B2B enterprise-level transactions. 5, consumption upgrade. Among them, artificial intelligence Kai-Fu Lee is particularly optimistic about the opportunities in China, then the artificial intelligence era what killer products will appear? China's Internet business model is quietly what changes? Digital transformation of traditional financial enterprises on China's credit system which subversion What? Innovative model can become BAT 'three mountain' gravedigger '? In response to the above questions, Innovation Workshop Chairman and CEO Kai-Fu Lee accepted the Wall Street Journal heard the exclusive dialogue, he believes that artificial intelligence will be China to lead the world's best opportunities, because China is not only relatively open policy, but also has the key to the development of artificial intelligence - -Massive Data. He also said that the development of artificial intelligence in the financial sector is the most prominent. The BAT 'Three Mountains' will in the future make money by stuffing themselves because they do not want to share the technology and do not want to know how much data they have and how much to make money from outside. When any entrepreneur Sit in the Jinshan silver mine, I thought it must be how to dig the mines, not to say how to sell mining tools to others.He also believes that the BAT 'three mountains' in the future harmless to the industry, but also useless, they Own Jinshan silver can not eat. 'Responsible editor / Zou Lin'
The following is the dialogue Record: Advertising Reporter: In what aspects of artificial intelligence may appear killer products? China has a leading opportunity in the international competition, the advantages of where? Kai-Fu Lee: Among them, faster applications will also see specific applications in the financial sector, such as automation, driverless and medical fields, etc. The financial services sector such as credit, risk control, investment, banking and insurance are most prominent because The financial industry is the most frictionless, and there is big data support.China's policy environment is relatively open to artificial intelligence, compared with the United States or other countries with rigorous and transparent policies, but may have a faster blow-up development.AI core is the key Data, these data exist in China and are all generating value, and we expect that artificial intelligence will be China's leading global opportunity. Reporter: There are many traditional financial enterprises in China are studying AI, which from the technical point of view how much to China's credit system subversion? Kai-fu Lee: Compared with the United States, China's personal credit card payment system is not very mature, giving us a direct payment and mobile payment huge opportunity, so sometimes backwardness is a tipping point instead of a new business opportunity, just as China's previous landline penetration People are jumping directly to the phone, and now China's mobile application development and mobile Internet substantially surpass the United States .It is a lot of Chinese people are not within the financial credit system, so the micro-credit card is likely to succeed.If everyone There are credit cards, each person can borrow tens of thousands of dollars a month, then who needs a small loan? So when the market is big enough, backward but inspired an unprecedented innovation model is definitely a positive. Reporter: Recently, there have been quite many changes in the Internet business model in China. Companies that acquire customers by hardware all raise prices for hardware products such as millet, motorbikes (prepaid) and LeTV. Does this trend mean that their previous Business model, or the industry structure in this area will be a major change? Kai-fu Lee: From the perspective of worship, it is to create a new and more effective green travel tool, that is, I think this if the worship as a bicycle price increase, it is completely understand the potential of this model The hardware subverts the past, and the style of the car changes when unmanned, and when it comes to creating a bicycle that shares the economy, the way home is changed, so we're more optimistic about how we can subvert Using habits, to bring more convenient, effective, more cost-effective solutions. Reporter: BAT 'three mountains' will hinder the future of China's innovative environment? Kai-fu Lee: BAT three mountains in the future will continue to focus on making money and profits, the phenomenon of the world. Large technology giant companies are not necessarily willing to share the technology and the accumulation of huge data, as well as a variety of ways to make money. Approaching the globalized market competition, technology giants struggle to motivate the disruptive business of open platforms because this is not the driving force behind the growth and profit-taking of such giants.
Reporter: BAT this goal is to make money eventually, and ultimately will not promote further technological innovation? Kai-fu Lee: When any entrepreneur sitting in Jinshan silver mine, I thought it must be how to dig the mined, not to say how to sell mining tools to others. Only our bare feet, there is no Jinshan silver mine will Think of a way to do it on their own. Large companies are not expected to hinder small entrepreneurs because their own Jinshan silver mined, so I'm not worried about BAT, but whether they can bring revolutionary technology Not too high expectations, but in the short term, the real earning is probably BAT. Reporter: exit path of the primary market whether there is any change? Kai-fu Lee: First of all, we are very confident for the entire capital market.For the exit path of a market, there are mergers and acquisitions, there are ways to exit the IPO, innovative workshop early investment in the United States to show Xiu Xiu listed in Hong Kong at the end of last year is very good In the past few years, China's capital scale and its potential have reached the world's top state we have seen some of the more high-tech assets, the past are listed overseas. Innovative workshops clearly see in China We must pay special attention to the secondary market in order to make early, mid-term and long-term investments, so we have put all our entrepreneurs in the past to go to the Nasdaq to make bell-beating dreams, Let them see China's capital market, let them understand their own technological potential and market development, is the most suitable market for them.
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