Commenting on Shenzhen’s surge in artificial intelligence (AI) and technological innovation, SMU Associate Professor of Finance Fu Fangjian said that Hangzhou has excelled in the field of AI by leveraging the data, algorithms, and talent advantages accumulated by its internet companies; Shenzhen, on the other hand, leans more towards hard technology innovation driven by manufacturing and supply chains. Assoc Prof Fu stressed the two are not in zero-sum competition, but rather have formed their own advantages based on different industries. He noted that Shenzhen's innovative ecosystem today is not something that formed overnight, but rather the result of decades of continuous accumulation since China's reform and opening up. Assoc Prof Fu said that successful companies continuously attract talent, which in turn creates new businesses, attracting even more resources, thus forming a continuously reinforcing cycle of innovation.
