Mar 15, 2021|
Dr. Bowen Zhou: Promoting Industrial Intelligence and Digitalization via Trustworthy AI
by Ling Cao
“In the next ten years, we hope to become an enabler with our partners to promote the industrial intelligence and digitalization via Trustworthy AI,” Dr. Bowen Zhou, Chairman of JD Technology Committee shared during the virtual annual conference held by MIT CHIEF (MIT-China Innovation and Entrepreneurship Forum) on Mar. 12.
Dr. Zhou said, “Technological progress is the underlying driving force of industrial revolution.” He added that technology progress will continue to expand industries’ boundaries, and create new industries. “And vice versa –industry needs will promote technology development.”
Dr. Zhou shared examples from enterprise perspective. In China, enterprises pioneering in digital transformation (which is defined as in the past three years, new business revenues accounted for over 50% of its total revenues) have benefited an average revenue CAGR（Compound Annual Growth Rate）which is 5.5 times that of other enterprises.
Zhou explained that apart from operational efficiency improvements, people tend to overlook other benefits for digitalization, such as making the whole organization more agile and flexible, which creates huge growth potential.
Zhou also shared how JD has applied AI areas from in manufacturing to consumption, in order to connect and integrate the whole circulation process via technology. For example, JD is using AI in C2M (Consumer-to-Manufacturer), as well as to help with writing product introductions, marketing content and more for its e-commerce platform. In addition, JD is using AI for automated product quality inspection. The service is SaaS based, and allows manufacturers to pay for it on a scaling basis according to its effectiveness.
While digitalization for all industries are still in early stages, in face of the challenges, Zhou said: “JD is fully embracing Trustworthy AI. There are two aspects, one is solving technology challenges: robustness, reproducibility and explainability. Second is showing human social responsibility and value, ensuring fairness, value alignment and accountability.”
Founded in 2011, MIT-CHIEF is committed to promoting intellectual exchanges and collaborations between China and the United States in technology, innovation and entrepreneurship.
Apr 1, 2024|
JD Chief Economist: Tech-Driven Supply Chain Revolutionizes Gen-Z Consumer Engagement in China
At the inaugural FORTUNE Innovation Forum in Hong Kong on March 28th, Dr. Jianguang Shen, chief economist of JD.com, highlighted the transformative impact of tech-driven supply chain solutions in meeting the dynamic needs of Gen-Z consumers in China.
“Gen-Z consumers are very discerning and pragmatic,” said Dr. Shen. “They don’t care if the brand is local or global.” Dr. Shen began by discussing the increasing sophistication of younger Chinese consumers. “The rising popularity of local products can be attributed to China’s supply-side reform, which has enabled brands to provide lower-cost products with higher quality,” he said. Shen also emphasized the strategic advantage that brands can achieve by leveraging advanced digital supply chains, which offer deep insights into consumer behavior, thereby tapping into substantial market opportunities.
Joining Dr. Shen were industry leaders including Angela Wei Dong, Global Vice President China at Nike; Pontus Erntell, President and Chief Sustainability Officer at IKEA China; and Doreen Wang, CEO of Kantar China and Global Head of BrandZ. Together, they shed light on the shifting preferences of China’s youth towards quality, sustainability, and enhanced social engagement in their retail experiences, especially amid economic headwinds, prompting brands to adapt swiftly.
Drawing examples from JD.com’s platform, Dr. Shen discussed the rising popularity of eco-friendly mini refrigerators among Gen-Z consumers. These products, aligning with Gen Z’s penchant for tech-savvy and environmentally conscious offerings, underscore the necessity for brands to evolve and align with consumer preferences.
Furthermore, Dr. Shen discussed the positive impact of a new government policy encouraging trade-in of consumer goods, which is expected to boost consumption. Leveraging JD.com’s robust supply chain capabilities, customers not only can easily trade in old appliances for more modern and eco-friendly goods but also benefit from a suite of JD’s attentive services such as doorstep pickup, installation, and recycling.
The conversation also touched upon the strategic collaborations under the Consumer-to-Manufacturer (C2M) model between JD.com and numerous brands, aiming to streamline the journey from product ideation to distribution. This collaboration has welcomed over 4,000 brands to JD.com’s C2M platform, drastically reducing product research and market introduction times by 80% and 70%, respectively, thereby fostering a mutually beneficial ecosystem for brands, retailers, and consumers.
Dr. Shen concluded by emphasizing JD.com’s commitment to technological innovation, with its deployment of AI-driven chatbot customer service, highly automated warehouses, autonomous delivery vehicles, and integrated retail solutions that bridge both online and offline domains. These innovations are designed to meet the dynamic preferences of consumers, enhancing the overall shopping experience and setting a new standard in consumer engagement.
Two Thirds of Customers Prefer Omnichannel Approach for Electric Appliances
