In recent years, the tech industry in North America has rapidly increased in terms of the scope of its innovation and entrepreneurship. Many of the strongest global trends continue to come from this region, which has extended influence in different directions.
On December 9-12, EqualOcean was holding the World Innovators Meet (WIM) 2020. This year, the event's main topic was 'Technology and Innovation Connect the World.' WIM2020 gathered up innovators from Asia, Africa, Europe and the Americas to share their knowledge and key achievements, promoting the concept of 'Tech for Equal.'
From December 9th to 12th, more than 100 world-class speakers, including 70+ Chinese speakers and 30+ global speakers, discussed the world’s technological and industrial innovation achievements from this year, including analysis of possible tracks of future development, at the first online World Innovators Meet 2020 (WIM2020). Despite this year being filled with ‘black swan events’ and great global uncertainty, enthusiasm for the potential of technological innovation has not diminished.
In recent years, the tech industry in North America has rapidly increased in terms of the scope of its innovation and entrepreneurship. Many of the strongest global trends continue to come from this region, which has extended influence in different directions. The activity of startups, investors, incubators, accelerators and state organizations has encouraged the promotion of new business models. WIM2020’s North American Chapter successfully connected people from different industries around the world in the name of technology and innovation.
For more than four hours, speakers, including Professor Rajkumar Venkatesan, Ronald Trzcinsiski professor at Darden School of Business, University of Virginia, talked about the influence of Artificial Intelligence in Marketing strategies and the different methods of Marketing Analytics. Also, we had the participation of Rebecca Pang, VP of commercial services, Diversified Asian Markets at RBC who share with the audience her insights about the transformation of businesses in times of crisis. Additionally, Jesse Horwitz, Co-Founder and CEO at Hubble Contacts, recognized by Forbes as one of the most influential entrepreneurs in the 30 Under 30 group, shared his insights on the disruption of e-commerce and new consumption in this era. This session also had a space dedicated to the role of actors in the entrepreneurship ecosystem in North America and Asia, accompanied by executives from Chinaccelerator, Plug & Play and Shenzhen Open Innovation Lab.
Here are some insights from the nine keynote speakers and one-panel discussion from WIM2020’s North America Chapter, followed by our thoughts.
AI in Marketing – Professor Rajkumar Venkatesan
When marketing is no longer about the strategies used in promoting one item to a customer, it can become a deeply personalized experience that requires companies to make a significant shift. “AI is the use of data and algorithms to personalize the acquisition and retention growth,” said Professor Rajkumar Venkatesan, “AI in marketing represents excellent customer service, customer value, understanding the customer and personalizing the service.” He then shared the five stages of AI maturity which are seen together as a recognized pattern by companies that have already implemented AI in marketing. From organizing data, finding external vendors as well as in-source, to building vs. buying and to turn the successful internal efforts into external platforms, the use of AI in marketing is more than hype but includes action plans.
How COVID Transformed our Lives and the Opportunities Ahead – Rebecca Pang
Coronavirus pandemic has affected our lives profoundly in many aspects. Production and consumption in most countries and regions in the world have been severely disrupted, and the economy has been experiencing negative growth. Rebecca Pang, Vice President, Commercial Financial services, diversified Asian markets at RBC, has shared her insights on the topic. As we step further into a world affected by its reality, COVID-19 is changing how we work, how we shop, how we watch, how we share, how we learn, how we heal and how we travel. To name a few, some of the results of COVID-19 show we have fewer offices and everything became much more easily accessible online. Ms. Pang said it well: “We have to be prepared for a different kind of recovery, to tap into the entrepreneurial spirit and to brace new technologies, to adopt new business models and seek new opportunities.
Navigating the D2C World – Jesse Horwitz
As the mind behind one of the most successful D2C brands, Hubble’s co-founder and CEO Jesse Horwitz had many insights to share, ranging from his involvements in e-commerce as a whole to the marketing strategies he uses on different advertising platforms. As Jesse mentioned, the D2C model tracks user activity and engagement with profitable advertising which allows businesses to understand customers. In the meantime, the automatic integration of social media platforms in marketing strategies facilitates the online presence of newcomers to the market.
Future Prospects of AI – Edgar Perez
Edgar Perez was a Vice President at Citigroup, a Senior Consultant at IBM, and Strategy Consultant at McKinsey & Co. His trajectory has made him one of the most influential executives and speakers in the technology industry. “Artificial Intelligence can monitor millions of points of data to provide personalized analysis to drive financial decisions as well as increasing safety and improves energy and transportation efficiency.” Mr. Perez shared with us his extensive knowledge on AI – from why the use of AI is increasingly fundamental, where AI is currently being used – such as robotaxis – to the future possibilities for AI.
How Digital Currency Changes People’s Lives – Adam Cai
Adam Cai, the CEO of the trading platform VirgoCX, is an avid crypto trader, experienced capital market professional and blockchain believer. Mr. Cai shared his takes on blockchain technology and digital currency as a whole – from the start of it to how it is now being utilized in everyday lives. As Mr. Cai said, “we have seen many revolutions in money over time but the trends of the future will rely on digital currency.”
How Online Education is Thriving by Technological Innovations – Joy Yuan
The last keynote speaker for the North America Chapter, Joy Yuan, is a managing director of Agile Preparatory Academy. She has dedicated herself to the education industry with a commitment to changing people’s lives. According to Ms. Yuan, “the DARQ AGE refers to existing technology like blockchain, Artificial Intelligence, augmented reality and quantum computing. Together, this wave of change will continue to shape the online education revolution, from content creation to students’ experiences.” From the ‘DARQ Age’ to other features of the new landscape, Joy continues to bring new perspectives on the key technologies throughout the online education revolution.
Innovation Trends in the China Market and Opportunities for Global Entrepreneurs and Innovators
As the world becomes more interconnected, the Chinese market has maintained its popularity among business executives and investors. ‘Wei ji,’ a word for both crisis and opportunity in Chinese, is a good explanation of today’s technological scene in China. The panel was moderated by Serena Chen, a consultant at Deloitte Consulting and director at Aves Lair, a NYC-based AI/Blockchain accelerator; they were joined by three speakers, Oscar Ramos, David Li and Jeff Chien. Oscar Ramos is a partner and managing director at Chinaccelerator – he is also a 'Full Stack Innovator' with expertise ranging from product development to corporate strategy. David Li, founder of Shenzhen Open Innovation Lab, a pioneer in the 'tech and maker space' scene in China and recognized as a 'Top Maker in Asia'. And Jeff Chien, a Senior Vice President of China Partnership at Plug and Play Tech Center who has experience in the innovative sections of many industries, such as Finance and Technology.
Three speakers with their extensive knowledge of the Chinese market shared their takes on current trends, why global investors need to care about this market and their suggestions for entrepreneurs and global investors when they take the plunge and come to China. While David suggested that entrepreneurs should not only think about how to grow their businesses but also look for inspiration, Jeff stated he believes that global entrepreneurs and investors should try to understand the customers and the technology people consume in China. Oscar reminded entrepreneurs that the market changes fast and it is important to consider the environment, how to supply services and consider what the customer is seeking. To summarize, to understand the customers and the unique market is the key to making a successful business in China.
About WIM
Hosted by EqualOcean, the World Innovators Meet (WIM) (click to watch the online event on December 9-12, 2020) is a global event for innovators. It provides limitless opportunities to learn from and connect with the most sought-after technology pioneers.
About WIA
The World Innovation Awards (WIA) are announced at WIM to recognize game-changers across various industries and geographies. Selected by a committee of distinguished experts, entrepreneurs and investors, WIA are designed to acknowledge technology disruptors striving to make a positive impact on a global scale.
See this year's WIA lists and download the research reports in English and Chinese on EqualOcean and 亿欧智库 respectively.