On October 13, Jack Ma attended the annual Hangzhou Yunqi Conference (The Computing Conference 2016) and explained the dramatic impact that the new technological revolution will have on various industries. Ma believes that e-commerce has neither hit the traditional business nor taken any firm action against it. Ma also pointed out that e-commerce was just a ferry boat that would be eliminated in the future. Ma said Alibaba would no longer mention e-commerce from next year. In the future, the five big changes such as new retail, new manufacturing, new finance, new technology and new energy will undermine all areas of life.
"Many people say that the Internet especially e-commerce, has hit all walks of life in various industries. In my opinion, e-commerce has not hit and cracked down on traditional trade. E-commerce captures only the Internet technology and thinking, knowing that the economy of the future will be based entirely on the Internet. We understood the technology of the Internet and developed a future-proof business model from it; that is e-commerce." Ma said that the real impact on all areas of life, employment, traditional ideas and industries were our thoughts of yesterday and ignorance of the future. The next 30 years are the earthshaking 30 years of human society.
Jack Ma prophesied that the word ‘e-commerce’ could soon be eliminated, "In fact, Alibaba will not mention 'e-commerce' from next year. Because e-commerce is just a ferry that takes something from this riverbank to another, that’s all. We think that the five new developments will have a profound impact on China and will affect the world as well as our future."
“The first ‘new ’is new retail. Jack Ma said that the pure e-commerce era would end soon, and there would be no e-commerce slogans over the next decade or two. There will only be new retail at that time. Offline businesses must go online, online businesses must go offline. Both, combined with modern logistics, can truly create a new retail.
The second ‘new’ is new manufacturing. Jack Ma believes that the next 30 years of manufacturing will focus on intelligence, personalisation and customisation. If not, any manufacturing industry will be destroyed, "As retail changes, the original B2C manufacturing model will be completely transformed to C2B, namely, the customisation on demand. Today we are talking about a supply-side reform, which means we need to reform ourselves to adapt to the market and consumers."
The third ‘new’ is new finance. Jack Ma said that over the last 200 years, finance has helped industrial development. It was based on the two-eight principle, which meant that 80% of the global development could be spurred on by the support of 20% of large corporations. The new finance, on the other hand, must follow the eight-two principle in the future. That is, we should support 80% of those SMEs, individualised businesses, young people and consumers.
The fourth ‘new’ is new technology. After the advent of the mobile Internet, the original PC-based chip becomes a mobile chip, the operating system becomes a mobile operating system, and the original machine becomes artificial intelligence. The original machine is based on electricity; the future machine will rely on data. In the future, many new technologies based on the Internet and big data will emerge, and that will create many imaginary and development spaces for humanity.
The last ‘new’ is new resources. The past social development was based on oil and coal, the technological development of the future will be based on new energy, which is data. Data is the first energyand resource that human beings have created themselves. Take a simple example, old clothes worn by other people are not valuable to you, but the data used by humans will be valuable to you. After you use it, it will become more valuable. Data is something that becomes more valuable as more people use it.”
"I hope you all remember that these five ‘new’ will affect many industries. Today we mentioned it for the first time and will not say again that we will destroy you after 20 years.” According to Ma, these five ‘newcomers’ will exist in all aspects and have a tremendous impact on all areas of life. "I do not want to turn this into an alarmist warning but an opportunity to change yourselves from now on."
"The future is changing far more than our imagination. In the past, the revolution in science and technology was driven largely by knowledge. I think the trend of the future is determined not only by knowledge but also by intelligence and data.”
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