Digital transformation powers future-proof industries, cities
Digital technologies are reshaping industries and cities by revolutionizing factories, logistics, customer service and various other domains. Businesses are actively embracing digital tools to address industry-specific challenges and stay ahead of the curve.
Hong Kong, an emerging hub for digital assets, stands at the forefront of this trend. In collaboration with Cyberport, a prominent digital technology center in the Asia-Pacific region, the city’s government will host the Digital Economy Summit 2024 from April 12 to 13.
Themed “Smarter Technovation for All: Forging a Sustainable Future”, DES 2024 will examine the transformative impact of digital technologies on industries and urban landscapes through the lenses of global industry leaders and technology visionaries.
Nadia Omer, CEO of Malaysiabased online travel agency AirAsia MOVE, will deliver a keynote speech at the summit. In a recent interview with China Daily, she highlighted the revolutionizing role of artificial intelligence in value creation and customer engagement.
“AI helps us build smarter search result algorithms, offering our customers the most suitable deals and packages that yield higher conversion rates,” she explained.
Furthermore, the AI-powered chatbot, AskBo, has been deployed to offer customers round-the-clock assistance with bookings, flight status and general travel information.
Blockchain technology is also disrupting traditional models by enhancing security, transparency and efficiency in transactions and data management, Omer noted, adding that AirAsia MOVE is moving its rewards and loyalty program to the blockchain.
Peter Brewin, a co-leader of crypto and Web3 at PwC Hong Kong, envisions a future where blockchain technology, through its interaction with AI, could give rise to autonomous machines with their own financial agency, supported by smart contracts and financial incentives.
An often-discussed example, as cited by Brewin, is self-driving taxis capable of collecting fares and recharging their batteries using the income.
“These taxis could be financed by tokenized loans or other instruments that automatically repay or give returns to investors as the cars earn fares,” Brewin explained. He will speak at DES 2024 about how blockchain technology can combine with IoT and big data to power the new smart economy.
He said the immutable nature of blockchain data would ensure the trust of investors, driving investment and reducing opportunities for fraud or information asymmetry.
An efficient flow of goods is another crucial element for well-connected smart cities. The Port of Hamburg in Germany, for instance, has fostered a smartPORT ecosystem where all stakeholders harness their technological prowess to improve efficiency, eco-friendliness and customer experiences, according to Anne Thiesen, the representative for Hong Kong, the Guangdong-Hong Kong-Macao Greater Bay Area and Southeast Asia at Port of Hamburg Marketing. She will join a panel discussion on smart port platforms at DES 2024.
The Port Community System, an essential component of smartPORT, digitalizes port processes and facilitates secure data exchange among stakeholders to improve efficiency and transparency.
Digital transformation also contributes to workplace safety, as exemplified by the voice-controlled assisted reality headsets developed by US company RealWear. These devices enable remote communication and hands-free operation for frontline workers in industries such as manufacturing, warehousing and healthcare.
Makoto Ito, who heads the company’s North Asia operations, will deliver a keynote speech at a forum on smart industrialization during DES 2024.
According to Ito, RealWear focuses on sites where urgency and safety are paramount, such as oil and chemical plants, as well as water, electricity and gas lifeline maintenance workers, who play a crucial role in the development of smart factories and smart cities.