Internet of Things now run in vogue

By Wang Yi Source:Global Times Published: 2018/11/7 19:43:40

Responding to fast development of 5G and AI

 A Chinese display products supplier announced its ambitious plans in Internet about Things (IoT) domains in Beijing on Wednesday, saying it hopes to work with global partners to create an IoT value-creating ecosystem, which experts said shows Chinese companies in many industries have seen the market potential in IoT, and launched their strategy to embrace it.

"Open up technology and application platforms to create value through  Integration of Chips, Panels, Software and Things (ICPST)," explained Wang Dongsheng, Chairman and founder of BOE Technology Group Co Ltd (BOE) at the company's yearly Innovation Partner Conference (IPC), as he elaborated on the company's IoT development plan.

At the same conference, BOE's CEO Chen Yanshun said that the company's recent move into IoT is because they have seen the big potential in the sector.

"IoT is in the critical stage of industrial layout. The deep exploration, expansion and extension of application scenarios in various industries will greatly promote the explosive growth of the market," Chen said.

"It is estimated that the global IoT market will reach $14.2 trillion in 2030, mainly in the fields of smart manufacturing, smart cities, smart health, smart retail, smart logistics and smart transportation," Chen added.

Xiang Ligang, chief executive of the Chinese telecoms industry news website, told the Global Times on Wednesday that IoT is the new direction of many companies in many industries. BOE's core business is still the display products, but it has made a lot of investment in IoT, and hopes to make a difference.

"As the 5G era is coming, a big boom will be seen in the field. During this process, Chinese companies hope to find more opportunities, but as I mentioned, not in the short term," Xiang said.

During BOE's exhibition of several smart living scenes based on IoT, the company showed its 8K and 5G live broadcast during the 5th World Internet Conference in Wuzhen, East China's Zhejiang Province.

"This is the world's first successful 8K and 5G long distance live broadcast," said a BOE employee.

Xiang noted that the mature IoT has to base itself on several technologies including sensor technology, big data, and artificial intelligence (AI). "It's said that 4G changes life. I thinks 5G changes society," Xiang said.

Kevin Ashton, who named the IoT, on Wednesday said that industries that depend on cheap labor, such as the clothing industry might see a total transformation, he said about the new application scenes of IoT in the future.

"IoT plus AI will definitely free more people from simple repetitive labor in the future," said Fu Liang, a Beijing-based telecom industry expert. "It's a trend."

Speaking of IoT application, Fu suggested that China is likely to take the lead in many areas, and develop particular solutions. "China will become an example in many specific areas," Fu said.

Posted in: ECONOMY

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