Tech Titans Forecast AI, 5G, and Digital Economy Trends at Wuzhen 2019

The 6th World Internet Conference (Wuzhen Summit) opened on October 20, 2019 with the theme “Intelligent Connectivity, Open Cooperation – Building a Community of Shared Destiny in Cyberspace.” The event covered hot topics such as artificial intelligence, 5G, open chips, fintech, and industrial internet.

Jack Ma (retired) said that none of the participants are “future experts”; they are all “yesterday’s experts,” emphasizing continuous learning and collaboration.

Li Yanhong introduced the concept of a “smart economy,” describing it as the next stage after PC, PC‑Internet, and mobile Internet, driven by AI. He outlined three major impacts:

Transformation of human‑machine interaction, with smart devices beyond phones (smart speakers, wearables, sensors) enabling more natural communication.

Shift in IT infrastructure: AI chips, efficient cloud services, open deep‑learning frameworks, and universal AI algorithms will replace traditional CPUs, OSes, and databases as core infrastructure.

Emergence of new business models across transportation, healthcare, urban safety, education, and other sectors.

Li also argued that AI will not destroy humanity; instead, digitalization of memory and consciousness could allow personal legacy to persist.

Ding Lei highlighted three future drivers: upstream technology, globalization, and upgraded information consumption. He believes AI‑centric companies will dominate, and that investing in education, healthcare, manufacturing, and agriculture will yield strong opportunities.

Zhang Chaoyang reflected on his 2016 goal for Sohu to return to the internet core within three years, admitting the deadline was missed and a timeline extension is needed, while emphasizing a renewed focus on media and large‑scale events.

Zhou Hongyi warned that rapid digitalization brings security challenges. He stressed the need for detection, interruption, and collaborative defense against sophisticated hackers, and highlighted talent development and industry cooperation.

Lei Jun showcased 5G performance tests (400 Mbps downlink, 800 Mbps later) and announced plans to launch more than ten 5G smartphones next year, viewing 5G as a catalyst for high‑quality video, cloud gaming, and other services.

Liang Jianzhang emphasized that innovation relies on talent quantity and quality, as well as internal and external communication, predicting continued growth in youth‑focused consumption and investment opportunities.

Yang Yuanqing described the era of data‑driven intelligent transformation, stating that traditional industries will undergo disruptive changes through integration with big data, AI, cloud computing, and other new technologies.

Lu Qi expressed optimism about the resurgence of entrepreneurship, noting AI’s role in accelerating innovation and the importance of open cooperation, data privacy, and ecosystem support.

Wu Hequan (Academician) argued that 5G provides reliable, high‑bandwidth, low‑latency connections essential for industrial internet applications, though large‑scale fiber deployment is unrealistic.

Ni Guangnan pointed out that while China’s internet technology matches international standards, foundational research in AI algorithms lags behind, calling for stronger ecosystem support and balanced regulation.

Fu Sheng (CEO of Cheetah Mobile) said the internet’s essence is data‑driven and predicted the next standardized device will be a robot—an AI‑centric hardware‑software‑service platform offering natural interaction.

The conference gathered many leading figures who collectively painted a picture of a future shaped by AI, 5G, digital economies, and heightened security awareness.