Artificial Intelligence

In the second of a seven-part Lianhe Zaobao-Business Times series on China and ASEAN, Zaobao senior correspondent Chew Boon Leong looks at the strategies adopted and challenges faced by China’s tech companies in Southeast Asia.

An alleged ban of Tesla cars from Beidaihe, the site of Communist Party leaders’ annual retreat, shows the fangs behind the smiles in the Chinese government’s attitude towards US company Tesla. Lianhe Zaobao’s China Desk has the analysis.

The phrase “metaverse” has been bandied about but what exactly is it and how far along is the project? Academic James Pang and entrepreneur Liang Xinjun explain that the implications of this development are larger than most think. The metaverse is not so much a sub-world to enter into on the side but the integration of the real and virtual worlds and economic systems, essentially creating a new world with new governance structures and norms. US and Chinese firms are, of course, racing to get a big slice of the future.

While the US and Japan would like TSMC to "spread the risk" of global tech supply chains being hit in the event of cross-strait tensions, TSMC is quite firm on keeping its advanced technologies in Taiwan while going through the motions of setting up some overseas outposts as recommended by its allies. It is well aware of its strategic value and will want to hold on to its upper hand.

The global chip shortage throughout 2021 prompted many tech companies to rely more on themselves. Coupled with the rise of artificial intelligence, demand for high-capacity chips has increased with tech companies and device makers racing to deliver smarter services and products. But the global semiconductor industry is also getting increasingly crowded, as more and more newcomers seek to gain a foothold in advanced chips to power new technologies.

By certain indices, China seems to have surpassed the US in artificial intelligence development. But a closer look shows that the US is still a leader where it counts, even though China has its strengths and is pouring in significant investments to catch up. James Pang says that China still has to knuckle down and get its fundamentals right, if it is to truly surpass its rival.

Analyst Zheng Weibin says that while the China-US competition is a tussle for power that some would compare to the Cold War of the 20th century, digital technology is making all the difference in the 21st century. Today's competition is taking place amid changing definitions of national strength and economic power, and China needs to catch up in terms of growing its digital economy and meeting the challenges that come with it.

Dr Kai-Fu Lee recently spoke at a summit reviewing the development of artificial intelligence. He gave five predictions about the industrial changes that would be brought about by the combination of artificial intelligence and other new technologies. Lee feels these changes would allow China to lead the world in science and technology in the next 20 years or so. This is the edited version of his speech.

Zhang Yugui points out that China’s financial services development is currently at the awkward stage where there is much financial innovation and the opening up of the financial sector, but not yet the corresponding capabilities to manage the complex financial systems and cutting-edge fintech. Hence we see the recent rash of anti-monopoly measures directed at tech giants such as Ant Group and Tencent. But has the industry reached a true tipping point? What must regulators do to bridge the gap?