Expo puts host city at forefront of new industry
and if the car makes an unusual journey, the bank will automatically receive an alert.
The IoT platform is much more objective and accurate than online funding and traditional finance, which often use subjective risk assessments. Moreover, because the data is input automatically rather than by humans, the platform eliminates the risk of cheating, said Liu.
Ping’an Bank’s Wuxi branch was among the early explorers testing the waters of IoT finance. It teamed up with WSN in 2014 in
The upcoming World Internet of Things Exposition will showcase new IoT technologies and provide communication channels for business leaders and industry professionals.
The event will officially open in Wuxi in East China’s Jiangsu province on Sunday and will continue through Tuesday.
“Leading IoT figures from both home and abroad will gather to discuss the development of the industry,” said Huang Qin, deputy mayor of the host city.
With the theme of “innovative internet of things era and sharing global wisdom”, the expo is expected to attract 80,000 people, including business leaders, experts and government officials.
Nearly 500 companies have confirmed their attendance. They include Alibaba Group Holding Ltd, Google Inc and Siemens AG, who will showcase their innovative products and IoT strategies at the Taihu International Expo Center.
While the exhibition will display state-of-the-art IoT products and provide glimpses of future technologies in a 50,000-square-meter exhibition area, leaders from international organizations will deliver key speeches at a series of forums on such IoT aspects as information security, finance and development of sensor technologies.
Part of the expo, the fourth meeting of the leading group of Wuxi National Sensor Network Innovation Demonstration Zone is to be held on Sunday, the first time it has been held concurrently with the WIOT expo.
As well, the final of the China National College Innovation Competition of IoT Application is taking place in Wuxi, with winners in IoT programming, creation and application receiving awards on Monday.
More than 100 teams from 230 universities and colleges across the country will present a wide range of inventions at the three-day competition, including a voice-controlled wheelchair developed by students from Shandong Agricultural University and a smart walking stick fitted with a GPS device designed by students from Yan’an University.
In addition, the expo will also help to facilitate international investment, organizers said.
During the expo, the host city will announce an IoT town development plan, which will be built in Wuxi’s Xinwu district and is expected to spur growth in the sector.
Reportedly the first city around the country to issue policies to support the IoT sector early in the 21st century, Wuxi has maintained a steady 30 percent average annual growth in its IoT business revenue over the past three years. To learn more about the World Internet of Things Exposition, scan them!