The advent of fast-growing artificial intelligence (AI) and increased computing power, coupled with the innovative, integrated development of other related industries will give a major boost to the high-quality development of the digital economy, according to experts.
With the rapid development of the digital economy and the widespread application of information technology, the computing power, as the cornerstone of the AI development, has become a main prop to shore up the social development, according to attendees the 2024 Artificial General Intelligence Computility Forum in Beijing on Thursday.
China's overall computing power has grown at an average annual rate of nearly 30 percent over the past five years, reaching 1.97 trillion floating-point operations per second, ranking second globally.
Alongside China's 'new quality productive forces' -- which refers to an increased focus on innovation and technology -- insiders say that this enhanced computing capability is one of the key drivers pushing forward the country's high-quality development.
"Computing power has promoted the development of the artificial intelligence application, and applications and scenarios have in turn driven the development of computing power. And both have jointly promoted the development of new quality productive forces. Artificial intelligence has been integrated into all walks of life. The faster the computing power, the better the application scenario experience will be," said Wang Yi, president and general manager of NETNIC, an IT networking and cloud computing services provider.
The cutting-edge breakthroughs being made in the advancement of AI are also playing a big role in boosting the development of the sports service sector.
At the Forum on the Development of New Quality Productive Forces in Sports Services, also held in the Chinese capital on Thursday, attendees held in-depth discussions on how new tech innovations can drive the optimization and upgrading of the sports industry and supply chains, deepen the innovative development of the digital sports economy, and empower the cultivation of talents.
"We have been using digital technology to help the development of the entire sports event economy from multiple aspects such as the players' service experience and the delivery of events. At the same time, the rapid development of sports equipment in terms of intelligence, digitization and convenience has created greater development space for the sports service industry," said Chen Li, president of Boden Sports.
Fast-growing AI, computing power prop up high-quality development of digital economy: experts
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
