- Jul 27, 2020
- Executive Spotlights
Dr. Bowen Zhou: The Industrial Internet Faces Immense Opportunities
by Yuchuan Wang
“The industrial internet faces immense opportunities amidst great challenges.” In the opening dialogue of the 17th China Internet Conference held on July 23rd, Dr. Bowen Zhou, Chair of JD Technology Committee shared his view on the transition of industrial internet from consumer internet.
“JD.com is not only an internet company. Leveraging its B2C model and logistics network, it is also the first company that truly moves the real economy online. We are well-positioned in both the consumer and industrial internet as we connect both the demand and supply ends.” Said Dr. Zhou.
Dr. Zhou explained, “On the technical level, the cost of data acquisition for the industrial internet is comparatively higher. Data discreteness and isolation problems are serious. On the algorithm level, it can be difficult to replicate certain models. On the system level, the requirements for security, stability, and latency are much higher than those for the consumer internet. In addition, the business models of the two are quite different. The model driven by venture capital in the consumer internet is not applicable to the industrial internet.”
Dr. Zhou believes that the current industrial internet is still limited to factory plants, but an efficient industrial internet for an enterprise should be full-chain. Enterprises should expand beyond their factory plants as it is of utmost importance for the upstream and downstream businesses to collaborate with each other.