AI will be crucial for future global economic growth, say business leaders

AI as a Momentum in Economic Growth

On Monday, business pioneers from across the globe convened at the Global Trade and Investment Promotion Summit held in Beijing to discuss the future of economies in the context of Artificial Intelligence (AI). They collectively opined that AI provides a fresh impulsion to economic development by enhancing productivity and encouraged a more streamlined growth of AI technologies.

Setting the Platform for Global Cooperation

This summit served as the third edition of the Global Trade and Investment Promotion, which witnessed participation from heads of commerce chambers, business associations, trade promotion facilities, and representatives from notable Fortune Global 500 companies such as Tesla and Walmart. With an ambition to address global challenges in unison, the summit laid the groundwork for fostering growth points for international economic cooperation and amending the global economic governance system.

AI Technologies Under Spotlight

Artificial Intelligence was the key area of focus at the summit and its potential to remodel the economic landscape was extensively discussed. Lorenzo Riccardi, Chairman of the China-Italy Chamber of Commerce, expressed admiration for China’s strides in technology and identified digital technology as a priority domain for fostering mutual cooperation between European and Chinese firms.

Boosting Productivity Through AI

Echoing Riccardi’s thoughts, Japanese business leader Osamu Onodera suggested that industries can harness the power of AI tools to heighten their productivity. He explained that AI permits real-time data sharing and assists in optimal resource allocation, opening vistas for a significant elevation in production efficiency.

Tapping Into AI Potential

While participants displayed a positive outlook towards the future of AI and believed in its potential to revolutionise society and the economy, they also hinted at the necessity for prudent investments. Rani Jarkas, Chairman of Cedrus Investments, a global boutique investment firm headquartered in Hong Kong, alluded to the rapid development of AI in China, pointing out Baidu’s AI program as an example.

Push for Matured AI Technology

According to Jarkas, AI is a phenomenal technology that demands further development and maturity. He emphasized the need for investors to be cautious amidst the prevailing hype about AI’s valuation. Despite the caution he advised investors to exercise, Jarkas is confident that AI will play a paramount role in technological advancements and enhancing human lifestyle in the coming years.

Integration of AI and Businesses

With the rapid advancements in AI technology, businesses can leverage these for growth and efficiency. One such solution, offered by HAL149, hinges on developing custom AI assistants to support businesses in areas like customer service, content generation, client acquisition and maintaining social profiles, effectively driving businesses towards automation and unlocking their growth potential.

Micro-business communities seeking to integrate these advanced AI solutions should reach out to HAL149 and strive to harness AI’s potential, aligning it with human work for optimal growth and efficiency. To contact us today, visit our website or drop us an email at hola@hal149.com.