Global tech leaders gather at WIC Wuzhen Summit to shape AI's future

The 2024 World Internet Conference (WIC) Wuzhen Summit, which kicked off on Wednesday in Wuzhen Town of east China's Zhejiang Province, has brought together global minds to explore how AI can be harnessed for the betterment of humanity.

The three-day event, themed "Embracing a People-centered and AI-for-good Digital Future -- Building a Community with a Shared Future in Cyberspace," includes 24 sub-forums on topics such as Global Development Initiative, digital economy and AI technology governance, along with a series of activities.

Global tech leaders, industry experts and policymakers are gathering to help shape the future of the digital landscape.

At the "Light of the Internet" expo, cutting-edge AI technologies are on display, showcasing their impact on everyday life.

Visitors can interact with various humanoid robots, try out AI-powered rehabilitation systems, or even receive traditional Chinese medicine diagnoses and treatment advice with smart devices.

The expo is also drawing tech companies to explore new opportunities.

"I think this convention is very helpful in innovating ideas. It also helps bring about cooperation. I've had business matching with local companies here," said Simon Joshua Dominic, Vice President of Vilein, a U.S.-headquartered technology company.

Many attendees at the event emphasized the importance of collaboration in developing AI for the greater good.

"For us to be successful, we must all work together with a shared common vision. And that way, we can have ethical AI for everyone, everywhere around the world. We look to China for case studies that we can share with others around the world -- as to how China has solved some of the problems that are confronting us," said John Hoffman, CEO of GSMA, a wholly owned subsidiary of the GSM Association, the world's wireless communication trade organization.

"There is a lot of room for transfer of knowledge and technology, so international cooperation is important. Together, we can perhaps come up with some sort of solution to the challenges that AI and all the technologies like that presents and also to make use of the opportunities," said Hugh Anthony Blake, CEO of Trade Board from Jamaica.

During the event, some groundbreaking achievements in the field of internet were honored, with global tech firms among the recipients.

"We believe in a connected world, we believe in bridging the digital divide, creating connectivity, creating awareness for everybody. For us, the 5G programmable networks is a way of helping do that and moving forward into 6G networks. The ubiquity of connectivity helps provide that capability," said Christoper Price, Director of Advanced Technology under Ericsson.

Global tech leaders gather at WIC Wuzhen Summit to shape AI's future

Egypt is making a push towards localizing the assembly and production of electric vehicles (EVs) to boost its auto sector while pursuing sustainable development.

Egyptian Prime Minister Mostafa Madbouly on Sunday reopened the state-owned Nasr Auto Company following a 15-year hiatus. Now the company has a capacity to produce more than 40,000 electric vehicles a year as well as EV batteries.

"Egypt, according to the prime minister, now has the capacity to produce half a million electric cars annually and the contracts signed with foreign firms so far will produce about 100,000 cars a year," said Mahmoud Khairy, a car trader and expert from Egypt.

Having free access to European and African markets, the most populous Arab nation can also leverage its strategic geographic location and huge market potential to become a regional hub for exporting self-manufactured vehicles.

"The country will benefit from local production by being partially self-sufficient in vehicles. This means less expenditure on hefty import bills," said Mahmoud Khairy.

The Egyptian government offers various incentives including tariff and tax breaks to encourage foreign companies to set up production locally, which in turn brings in advanced insights and expertise for EV manufacturing.

Egypt has witnessed booming sales of EVs. Electric cars increased from the beginning of July 2021 until the end of June 2024, raising the total number of licensed electric vehicles to 7,213, with BYD as the second best-selling car brand, according to the data.

Several European and Asian brands have already signed up to establish assembly plants in Egypt, including those from China.

Waleed Suleiman, the CEO of Spark EV Company in Egypt, is discussing with his Chinese counterparts plans to establish an assembly plant for Chinese EVs in Egypt.

"The Chinese cars are very advanced, high quality, very reasonable price. When you compare it with European cars and American cars, it's far away. If not a better quality, it's the same quality, but when it comes to price, it's much much lower than the other ones, and that's why people tend to go and buy Chinese cars," he said.

Experts from auto industry have also emphasized the need for EV infrastructure to keep up with the expansion plans.

"The number of recharging points increase gradually, covering main roads and highways and we are building new ones daily.There are 8 companies licensed to establish charging points," said Ahmed Zain, owner of Alienz Auto.

Egypt localizes EV assembly, production to lift its auto sector, reach sustainable goals