China to con­trib­ute more to world’s in­no­va­tion: Gates

The Pak Banker - - BUSINESS -

With a strong am­bi­tion to pro­mote sci­ence and re­search, China is go­ing to con­trib­ute more and more to the world's in­no­va­tion, Mi­crosoft's founder Bill Gates has said.

In an in­ter­view on the side­lines of the World Eco­nomic Fo­rum (WEF) An­nual Meet­ing 2016, Gates said China would prob­a­bly be­come a huge par­tic­i­pant in the Fourth In­dus­trial Rev­o­lu­tion, which is al­ready un­der way and bring­ing a fast and dis­rup­tive change for most in­dus­tries. Talk­ing about the new rev­o­lu­tion, Gates be­lieved the dig­i­tal rev­o­lu­tion, some­thing he spent most of his life work­ing on, was a huge fac­tor.

The Fourth In­dus­trial Rev­o­lu­tion refers to the on­go­ing trans­for­ma­tion of our so­ci­ety and econ­omy, driven by ad­vances in ar­ti­fi­cial in­tel­li­gence, ro­bot­ics, au­ton­o­mous ve­hi­cles, 3D print­ing, nan­otech­nol­ogy and other ar­eas of sci­ence. A key en­abler of much of th­ese new tech­nolo­gies is the In­ter­net where Mi­crosoft and Gates has been a lead­ing con­trib­u­tor to the progress. "An in­dus­trial rev­o­lu­tion is com­ing to in­crease pro­duc­tiv­ity very dra­mat­i­cally," Gates said, "It creates op­por­tu­ni­ties, and it creates chal­lenges."

New tech­nol­ogy changes would free some la­bor, so that peo­ple can do more in cul­ture sec­tor, ac­cord­ing to Gates. He said China had built some ad­van­tages in sci­ence and tech­nol­ogy through its ed­u­ca­tional sys­tem, and the coun­try had a strong will to pro­mote its con­tri­bu­tion in dif­fer­ent sci­ences sec­tors.

"China ob­vi­ously has a lot of peo­ple and a lot of smart peo­ple," Gates said, "Not only a lot of peo­ple col­lege-ed­u­cated, but also a lot of en­gi­neers with the qual­ity of en­gi­neer­ing skills. ""With the recog­ni­tion that peo­ple have done some­thing that they can be re­warded for that, many ex­perts have been leaded to have new com­pa­nies, in IT sec­tor, bi­ol­ogy, ro­bots and other those things."

"China is go­ing to carry its weight," he said. In re­cent years, the for­mer in­ter­net elite has been ded­i­cat- ing to driv­ing in­no­va­tion in global health and de­vel­op­ment. As the Cochair of the Bill & Melinda Gates Foun­da­tion, Gates de­cided to join force with China's Ts­inghua Univer­sity to es­tab­lish the Global Health Drug Dis­cov­ery In­sti­tute(GHDDI) in Bei­jing dur­ing his Davos visit. "China has made in­cred­i­ble progress in re­duc­ing poverty and shares the foun­da­tion's com­mit­ment to har­ness­ing ad­vances in sci­ence and tech­nol­ogy to ad­dress the crit­i­cal health chal­lenges af­fect­ing the world's poor­est peo­ple," Gates said.

"We are ex­cited about GHDDI's po­ten­tial to drive in­no­va­tion in global health re­search and de­vel­op­ment, and look for­ward to part­ner­ing with Ts­inghua Univer­sity on our con­tin­ued work to ad­dress the world's most press­ing global health chal­lenges."

In an ar­ti­cle re­leased dur­ing WEF, Gates pledged his foun­da­tion would in­vest more in in­no­va­tion in the com­ing years. He told Xin­hua that the in­vest­ment that went to China's in­no­va­tion was ex­pected to in­crease grad­u­ally. Asked whether he wor­ried about China's eco­nomic slow­down, which may hin­der in­no­va­tion progress, Gates said he was quite op­ti­mistic about China's eco­nomic out­look. "I have a lot of con­fi­dence in China, partly be­cause they take a long-term view, and partly be­cause they look what other coun­tries are do­ing," he said.

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