(Yicai Global) Sept. 11 -- It is crucial that China’s manufacturers learn to embrace the internet, Jack Ma, chairman of Chinese e-commerce giant Alibaba Group Holding Ltd. [NYSE:BABA], said in a speech at the World Internet of Things Exposition 2017 held in in Wuxi in China’s eastern Jiangsu province.
Digitization in the sector will bring an end to traditional manufacturing labels such as Made in China and Made in USA, he contends.
The manufacturing industry of the future will not rely on economies of scale, assembly lines or container operations. Instead, all aspects will be individualized and customized, said online news outlet China Economic, quoting Ma.
Industrial firms could also employ algorithm specialists in the future to code programs directly at factories, he added.
The Alibaba founder expects a new age of manufacturing to usher mankind from the monopolistic data technology era into one characterized by data sharing, with key drivers to be the Internet of Things, computing and artificial intelligence technologies.
Alibaba, Tencent Holdings Ltd [HKG:0700], Facebook Inc. [NASDAQ:FB] and Amazon.com Inc. [NASDAQ:AMZN] are all modern manufacturing companies, he added. They are not just creators of online programs, but rather modern manufacturers who integrate programs with internet products.
Entrepreneurship, enterprises and technology will be the main driving forces behind social progress in future, he told participants at the event.Keywords: Alibaba, Jack Ma, Made in China