China, the newest megatrend in tech

Josey Puliyenthuruthel December 5, 2018 2 min

At FactorDaily, we’ve been covering the flow of Chinese entrepreneurs, venture capital and companies into India for some time now. As the trade war between the United States and China gets real despite the recent handshakes, the Chinese government will likely channel more and more investments in Asia as well as Africa. Everything is interconnected in China. So, the government can not only channel public spending but also influence private spending to a great extent.

Between November and December this year, our reporters have been in Beijing, Shanghai and Hong Kong to understand more about Chinese companies, the market and their ambitions overseas. Over the next week, we will bring you stories from China, packed with insights and on the ground understanding of the market where Unicorns are born every other month.

The new wave of Chinese globalisation will be built on top of the internet and not so much manufacturing, says Jayadevan PK, our lead reporter in this ‘FactorDaily in China’ project. Chinese companies are making rapid progress in building services that deliver everything from grocery to fashion at your doorsteps.

“In Beijing, the capital city, you’ll see how artificial intelligence is meeting real life,” Jayadevan says listing examples like automated billboards shaming jaywalkers, tai chi practitioners perfecting their art with the help of an AI program, or smart screens that “dress you up” in hutongs. In Shanghai, Ant Financials is powering a fintech platform rivalled in scale only by another Chinese company: Tencent. At the headquarters of Live.U, you’ll see young Chinese spend hours broadcasting to millions of viewers on an app.

The implications of manufacturing chops honed over decades combined with a growing AI prowess is vast and just beginning to play out in China. It has implications for the rest of the world, especially India. Concludes Jayadevan: “They’re inspired in parts by Silicon Valley and Hollywood myth-making but with a tinge of Chinese pride.” That could well be the biggest megatrend in the world of tech in the next decade.

Drop by to read our China dateline stories starting December 10. Keep an eye out for the #FactorDailyinChina hashtag.


               

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