Harvard Forum: China is the Best Market for Robot Entrepreneurship in the Future
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In Silicon Valley, it is common for science and technology scholars to leave their jobs. From Google founders Larry Page and Sergey Brin, to Wu Enda who had previously left Stanford University to join Baidu, although the way of doing business is different, the trend is an indisputable fact. Xiaojian Xiong, the founder of auto-pilot startup AutoX and a former computer professor at Princeton University, is one of them.
Xiao Jianxiong believes that another major trend of technological entrepreneurship in recent years has been frequent exchanges between academia and the business community. He analyzed the reasons for this trend. First, more mature technology has brought potential business value and attracted a large number of companies to invest. Second, various industries increasingly rely on cutting-edge technology as a solid foundation for business development. Xiao Jianxiong said that such exchanges are a good thing, not only solving the problem of lack of funds for the research and development of high-tech campus personnel, but also accelerating the pace of using cutting-edge technology through enterprises for practical purposes.
Xiao predicts that the exchanges in the next two major areas will become more and more close. Not only will more academic talents in universities use professional skills to start businesses, but also more investors will be optimistic about cutting-edge technology startup companies.
China is the best market for robot entrepreneurship in the future
From 2015 to the present, there are three major industries in the Chinese market: the sharing economy, artificial intelligence, and robots. Gao Lufeng, chairman and CEO of Segway, believes that Chinese investors have a unique feature that they dare to invest in cutting-edge technology. Therefore, robot entrepreneurship in China is very conducive to entrepreneurs getting financial support.
However, the precondition for the commercialization of technology is to be able to put the leading research into practice and transform technology into industry. According to Zhang Feng, a professor of neuroscience at MIT and a pioneer of microbial systems CRISPR technology, “If you want to start a business successfully, scientific and technological talents should step out of the lab to find practical uses for their research projects.â€
Take biotechnology as an example. In the early days of startup, it was a stage to look for entrepreneurial inspiration and R&D technology. It was not easy to obtain investment at this stage, but once the technology came to fruition and was displayed, entrepreneurs could seek out financial support while still not forgetting to improve. The accuracy and efficiency of the technology are constantly improved.
Artificial intelligence - is the tuyere or bubble?
Since 2016, domestic attention on artificial intelligence continues to rise, and Internet giants have announced that they will strengthen their R&D projects and transition to artificial intelligence. For a time, artificial intelligence seems to be another outlet. However, in the face of a long research and development cycle and massive data requirements, can this immature field survive the winds that are growing more and more?
Wang Weijia, Founding Managing Partner of SinoCity Venture Capital and Chairman of the China Enterprise Research Institute, said, “There is still room for development in the field of artificial intelligence. Now every major company wants to be involved in artificial intelligence, but it still has cutting-edge technical talent and optimized algorithms. It is inseparable from the support of large amounts of data. In this area where data is king, investors will tend to have companies with more data and better data collection."
Xiao Jianxiong believes that there is indeed a small bubble in the field of artificial intelligence. In order to gain a foothold in this field, entrepreneurs have two choices, whether to provide better AI, or to provide more data, only to distinguish their own projects from other artificial intelligence companies.
Data is king, but fragmented data still does not contribute to the continuous development of artificial intelligence. Stanford University professor of physics and founding chairman of Danhua Capital Co., Ltd. Zhang Shouyi added, "Clear structured data is the basis for the machine to speak. Before thinking about obtaining data, entrepreneurs can not imagine how to improve the accuracy and fluency of data. Comprehensibility."
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