Young people in big cities seeking emotional outlets by embracing loneliness and consuming loneliness. A new type of Chinese consumer: well-educated, young and willing to spend – but spending alone. The empty nest youth is an emerging theme in China’s economy. Mini karaoke booths, one-pot hotpot restaurants and many mobile games to accompany the lonely. We may see a phenomenon, facilitated by technology, where young Chinese people, especially millennials, are looking for individual experiences and personalized services more than the previous generation; not unlike their peers in other countries. However, I’d argue that technology is facilitating loneliness rather than allowing Chinese consumers to embrace it. There is plenty of evidence that youngsters would rather spend time on their smartphones than on playing with friends, dating, working and just hanging around. The slightly addictive nature of certain social networks and the fact that a handful of technology giants control those information streams does make me worry about the long-term societal effects.
Read more: South China Morning Post
Guizhou and its capital were put on the fast track to economic growth in 2013; growing over 10% in 2017. Big data is one of the focus areas for this once poorest province of China. Big data and artificial intelligence are considered as the technology to shape the future and thus make China the leading technology power. China has a clear advantage in big data because a lot of big data is collected, stored and analysed. With the average high acceptance and connectivity of mobile digital technology, the exponential growth of big data in China cannot be ignored. Not only the government support is there, but also, the market, technology and capital necessary for real big data technology innovations.
Read more: South China Morning Post
Tying in with the World Economic Forum’s Industry and Business Agenda and Future Agenda, we ask about the impact of new technologies such as AI. What skills will organisations need to thrive and how can they best leverage AI to their advantage? How will AI impact business decision making?
See more: Thinkers50
The Chinese economy — much like the daily life in many regions in China — can be characterized by one word: Change. Fast-paced, constant change. It’s been going for decades. The first generation of today’s biggest entrepreneurs started in the 70ies. They excelled in adapting their business to a growing demand. The responders. The next generation of entrepreneurs were driven by the opportunities the internet and e-commerce brought. We are talking about the BAT: Baidu, Alibaba, Tencent. The Internet leaders. What is there left to do as a startup when faced with a market that is driven by a few seemingly omnipotent players? The answer is disruption. The 3rd generation of Chinese entrepreneurs have emerged over the last 5–8 years. The Change Makers.
Read more: Medium
Where would you expect to find the world’s most innovative talent development program or a meld of big data and artificial intelligence
together predicting employee resignations with 95% accuracy? Your answer probably would not be China, but think again. While dreadful personnel management practices, as well as dangerous labor abuses, can still be found in the country, it would be a pity to ignore the innovation going on. Chinese companies have been the quickest to adopt new technologies such as big data, artificial intelligence and talent analytics. Their innovative human resources practices can bring a fresh perspective from one of the world’s most dynamic markets.
Read more: Nikkei Asian Review
China is following her own plan when it comes to economic development. Some even speak of the need for a new political theory to account for President Xi’s approach to government. It is not surprising that in China’s unique business context, companies also show different approaches to growth and organization. I study Chinese organizations and how to thrive in an uncertain business environment to draw lessons for global organizations facing increasingly dynamic business contexts. One such new organizational form is the innovative business ecosystem, exemplified by Alibaba but also adopted by Baidu, Tencent, Xiaomi and LeEco. While businesses are often organized in matrix structures, these companies follow a more boundaryless approach: the business ecosystem.
Find out how Chinese tech giant Alibaba and its peers Baidu, Tencent and Xiaomi are giving Amazon and Google a run for their money. Google, Amazon, Facebook and Apple (Gafa) may still be the world’s largest technology companies, but a new generation of contenders is coming from the East. The Chinese giants are consistently on the MIT Technology Review’s list of smartest companies in the world. While Chinese enterprises were long written off as copycats, this has now become a bad joke. Gafa needs to be aware of BATX’s boundaryless business approach, leveraging a new way of organising and exploiting the benefits of both strategic planning and entrepreneurial decision-making.
Read more: The Telegraph
Google, Amazon, Facebook and Apple (‘GAFA’) may still be the world’s largest technology companies, but a new generation of technology contenders is coming from the East. Alibaba and its peers Baidu, Tencent and Xiaomi (popularly termed ‘BATX’ in China), not only lead but also create and disrupt markets. With a combined market capitalization of about $900 billion, incubating over 1,000 new ventures within a decade and an average annual growth of over 50 percent, they are showing their unprecedented growth and relentless ambition to the world. Did you know that Tencent’s WeChat has over 1 billion users worldwide? Xiaomi bested Apple in the Chinese market, just 4 years after establishment. Baidu is one of the big boys in artificial intelligence (AI), not less than Google and Microsoft. GAFA needs to be aware of the rise of BATX.
Read More: Financial Times (Chinese) China Daily