The global digital economy has made remarkable strides, reaching over 40% of the total world economyThis overwhelming growth has brought forth a collective ambition across various sectors to promote the development of digital technology, coupled with enhanced global exchange and cooperation in tech innovation.

The transformation in various industries—including manufacturing, healthcare, education, and media—has been fueled by digital technologies

These tools serve as crucial engines in the development of new productive capacities, enhancing efficiency and security within supply chains and corporate operations.

On November 27th, the second China International Supply Chain Promotion Expo took place, themed “Igniting AI Engines: Empowering Development Across Industries.” At this event, exhibition participants from the digital technology sector called for collaboration to jointly promote the global innovation landscape and foster mutual benefits.

The rapid pace at which the digital economy is developing, along with its vast reach and deep impact, has positioned it as a pivotal force in reshaping global resources, reconstructing economic frameworks, and altering the competitive landscape

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This is also a vital direction for the global industrial system and supply chain developmentAccording to the "2024 Global Digital Trade Development Report" released by the International Trade Center, the total value of global digital trade reached $71.3 trillion in 2023, accounting for 22.5% of overall international trade volume, establishing it as a new growth engine for economic development.

In recent years, China’s digital economy has experienced rapid advancement, particularly in the penetration of artificial intelligence technology throughout various stages of enterprise supply chains

In the first three quarters of this year, the added value of China's information transmission, software, and IT service industries grew 11.3% year-on-year, while cross-border e-commerce imports and exports hit 1.88 trillion Yuan, reflecting an 11.5% increaseThe digital economy has integrated itself into the cultivation of new productive capacities and has emerged as a new growth point for high-quality economic development.

Digital technology is transforming various industries by enhancing efficiency and innovating operational models across sectors

In this context, Wang Cheng, COO of TCL Technology Group, stated, “Digitalization, especially in crucial segments, is a hurdle that every enterprise aiming for transformation must overcome.” He emphasized that businesses face the challenge of improving operational efficiency and driving performance enhancements through the automation of data analysis and intelligent decision-making enabled by technologies like artificial intelligence.

Currently, artificial intelligence empowers the rapid upgrading of manufacturing industries

Zhou Xinhong, Vice President of HP China, shared a case study demonstrating how digital technologies enhance productivity in manufacturingThe case involved an electric vehicle producer requiring stringent acoustic inspections of critical components like chassis and engines during vehicle deliveriesTraditionally, such tests were conducted in soundproof rooms, potentially disrupting production schedules.

However, HP and Seres Auto developed an AI acoustic testing solution that allows for direct automation of inspections using industrial smart microphones on the production line, without necessitating a soundproof environment

The system automatically analyzes results with AI algorithms and presents findings within seconds, fundamentally revolutionizing the testing process in manufacturing.

Moreover, digital technologies also play a crucial role in supply chain management and security

Xu Zhengchun, Global Vice President of SAP, elaborated on the increasing frequency of supply chain disruptions faced by global businesses over the past five yearsReports indicate that companies encounter a month-long supply chain disruption approximately every 3.7 years, significantly impacting their operations.

Despite this, Xu remained optimistic, asserting that digital tools and AI solutions are now capable of enabling rapid response to sudden disruptions.

As an example, during the Suez Canal incident in 2021, the Evergreen container ship blocked the canal at 7:40 AM Egypt time

Project44, a global supply chain visualization and collaboration solution provider partnered with SAP, was able to provide reports to clients within 20 minutes of the accident, allowing businesses on SAP's network to make swift, informed decisions based on real-time data.

This case illustrates the substantial impact of digitalization and AI solutions in critical times, highlighting their importance for supply chain safety and autonomy.

Beyond manufacturing, AI is catalyzing monumental shifts in the media industry

Zhang Shilei, director of the New Media Department at China Global Television Network (CGTN), highlighted the reality that a single phrase can now generate a complete video due to advances in AI technologyThis partnership between media professionals and AI is enabling innovations such as multilingual video translation and fully automated content production, significantly challenging traditional boundaries and reshaping the media landscape.

In the progressing digital landscape, businesses face significant opportunities alongside various challenges

Qiushi Holdings Co., a company focusing on technology service investment stemming from Tsinghua University, aims to facilitate technology commercialization across over 300 incubators nationwideThe company’s Executive President Zhao Dong mentioned that while many emerging technologies, including AI, are encountering hurdles in maturity and market application, supportive government policies are crucial for bridging the gap.

Zhao elaborated that the process of tech commercialization is lengthy and unpredictable, citing the challenges faced in transitioning Tsinghua University's nuclear technology into civilian applications, which has not yet reached large-scale deployment despite decades of development.

Song Yulun, Senior Vice President of China Unicom Digital Technology Co., also emphasized the struggles businesses encounter in deploying big data, AI, and 5G technology due to a disconnect between clients' understanding of new technologies and the actual demands they have.

The economic viability of new technologies requires businesses to consider return on investment for implementations, which often leaves organizations exploited and skeptically assessing the commercial viability of technological transitions

However, deeper understanding of 5G, AI, blockchain, and big data may yield better circumstances for these challenges moving forward.

Additionally, essential concerns involving data security and privacy protection arise within the realm of digital technology application

Luna Lu, General Manager of Newegg Group’s Software Applications Division in China, indicated an obligation for firms to comply with laws and regulations pertaining to data security and privacy while maintaining transparent governance practices.

Currently, both domestic and international requirements exist concerning the cross-border flow of data, prompting firms to engage proactively with regulatory entities to align their software development and solutions with dual standards—domestic and international.

Attaining an open mindset while continuously learning and adapting is vital for enterprises as they navigate compliance with emergent requirements.

Moreover, many companies emphasize that policy support is crucial for the development of disruptive digital technologies

Zhao highlighted that the commercialization of technology often encounters barriers, and immediate policy backing is critical for the emergence of transformative advancements.

For example, the emphasis on patient capital in financial policies has gained traction in the past year, proving significant for technological innovation, as the growth incubation period of a promising company may well extend beyond ten to fifteen years—far surpassing that of traditional bank loans or funds, reinforcing the necessity for long-term investment support.

With the evolving landscape of digital technology, industries worldwide are undergoing significant alterations, influencing economic, political, cultural, social, and ecological facets of existence

Enhancing international exchange and collaboration in digital technology is essential to harnessing its full capabilties.

During the event, enterprises in the digital technology chain issued the "New Blueprint for Collaborative Digital Technology" initiativeXie Xin, Deputy General Manager of Beijing Institute of Architectural Design and Research, explained the importance of recognizing the irreplaceable role of digital technology in addressing global crises, enabling sustainable development, deepening international industrial collaboration, and enhancing productivity.

This initiative emphasizes the necessity for six focal points: firstly, enhancing international exchange and cooperation based on principles of openness and mutual benefit through sharing best practices and technological applications.

Secondly, driving the widespread application of digital technology across various industry sectors, focusing on traditional fields like agriculture and manufacturing to elevate productivity and competitiveness.

Thirdly, fostering innovation in artificial intelligence applications to enhance processes across various fields, from smart governance to transportation and healthcare.

Fourthly, expanding the coverage and accessibility of global digital technology applications to bridge the digital divide, thereby uplifting participant capabilities in the digital economy.

Fifthly, advocating for responsible and sustainable tech innovation that respects ethical standards and safeguards data privacy.

Lastly, promoting the application of digital technology in environmental protection, energy conservation, and resource recycling, seeking economic growth in harmony with ecological preservation.