24.2 C
Wednesday, June 7, 2023


Global investment in digital transformation will reach US$3.4 trillion by 2026

Related stories

IMF mission staff to track Ghana’s programme this week

Staff from the International Monetary Fund (IMF) are scheduled...

We need to reconsider tariffs that influence automotive sector – Investive

Some investors in Ghana's automotive industry are requesting that...

Cedi may record mixed performance this week

The Ghanaian cedi exhibited a deceleration in its depreciation...

Importers charged by GRA to pay 12.5% more if they refuse to register for VAT

The Ghana Revenue Authority (GRA) is warned all importers...

5 financial bills to be laid before Parliament today

As Parliament reconvenes today, Tuesday, June 6, a set...

Economist suggest the implementation of a bank tax

Dr. Sajid Chaudhry, a Senior Lecturer in Economics, Finance,...

Largest economies experiencing slowest growth – McKinsey

A recent research by the economic consulting firm McKinsey,...

Airline industry will become profitable this year – IATA

The aviation sector is anticipated to earn a profit...

Economist calls for ‘Bank Tax’ to check too profitable financial institutions

A British Financial Economist and lecturer at Aston University...

Forex rate shows dollar selling at GHS11.90, BoG interbank rate at GHS10.97

The Bank of Ghana has released today's Interbank forex...
- Advertisement -

With global digital transformation spending expected to reach US$3.4trillion by 2026, Huawei’s Rotating Conference Chairwoman, Meng Wanzhou, has advocated a move from narrow artificial intelligence (AI) to general and super-AI.

She said digitalisation is the new blue ocean for the whole information, communication and technology (ICT) value chain, and it is imperative that the strategic objectives of industry should drive digital transformation rather than the technology itself.

- Advertisement -

“Digitalisation is a new blue ocean for the whole ICT value chain. Enterprises that are going digital and enterprises that are helping others go digital will have huge addressable markets and huge economic benefits,” Ms. Meng said during Huawei’s 20th Global Analyst Conference held in China.

Against this backdrop, the leading global provider of ICT infrastructure and smart devices said it will ramp up its investments in domains like connectivity, computing, storage and cloud – in a bid to deepen its drive to enable productivity and efficiency improvements across industries such as mining, healthcare, ports, transportation and many others.

- Advertisement -

Huawei has over the years built in-depth partnerships with nearly 200 power enterprises worldwide, and is providing digital services for more than 20 leading oil and gas enterprises and 800 mining enterprises.

In Ghana, government’s strategic digitalisation agenda, if pursued to the letter, could position the country as a fertile ground for data science research and development; and to take advantage of this investment to develop AI solutions for the agriculture, health, education and financial sectors.

- Advertisement -

It will also provide unique opportunities to accelerate economic growth and connect citizens to services and jobs, a move that could support efforts to restore macroeconomic stability.

Digital infrastructure

Huawei disclosed it is building the digital infrastructure that will support these increasingly diverse and complex industrial scenarios. These networks require ultra-reliable and fast connections between people and intelligent objects, and between home and factories. It is leading the development of next-generation 5.5G infrastructure, developing the technology and networks that will support over 100 billion connections and deliver a 10-gigabit user experience.

Outlining the four distinct characteristics of digital infrastructure that Huawei is delivering to help customers go digital, Ms. Meng said: “We aim to provide our customers with digital infrastructure that has the simplest possible architecture and the highest possible quality, delivering the best possible experience at the lowest possible costs.

“Our goal is to help organisations go digital in four stages: digitising operations, building digital platforms, enabling platform-based intelligence, and putting intelligence to use. The time is ripe to thrive together in this new and exciting digital future.”

An intelligent world needs new networks and new computing

As humans move toward an intelligent world, two key areas were identified during the conference: new networks and new computing. As a result, Dr. Zhou Hong – President of the Institute of Strategic Research – observed that networks and computing are the two key cornerstones underpinning the shift from narrow AI toward general-purpose AI and super-AI.

“To get there, we will need to take three key steps. First, we need to continue driving breakthroughs in theories and technologies to deliver ubiquitous, intelligent connectivity and drive social progress. Second, we need to keep pushing our cognitive limits to better understand and control intelligence. Finally, we need to define the right vision and use the right approach to guide AI development in a way that truly helps overcome human limitations, improves lives, creates matter, controls energy, and transcends time and space. This is how our society as a whole will continue to evolve and thrive,” he said.

The goals of AI must be defined and aligned

He added that as AI’s capabilities are improving rapidly, there’s a need to consider how to make sure the development of AI is what people want and ensure AI execution is accurate and efficient.

“We must create rules and laws to enhance AI ethics and governance.” He believes that from a theoretical and technical perspective these goals present three major challenges: AI goal-definition, accuracy and adaptability, and efficiency.

“If we don’t have an agreed-upon definition, it’s almost impossible to ensure that the goals of AI and human beings will be aligned. It also makes it difficult to make reasonable classifications and computations,” Dr. Zhou explained.

Meanwhile, a panel discussion was held during the summit on the role that digital productivity plays in driving industrial digitalisation, the challenges industries face in their digitalisation process, recommended actions, as well as expectations for industries in the process of building up their digital productivity.


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories