(Yicai Global) July 21 -- Artificial intelligence has the potential to rapidly rise and penetrate various industries with the help of big data, computational power and algorithms, Yang Yuanqing, chairman and chief executive of Lenovo Group Ltd. [HKG: 0992], said at 2017 Lenovo Tech World.

"Lenovo has seen AI as the future of the information industry, and Lenovo has bet its life on AI," Yang said.

Lenovo has great advantages in information collection, processing and application and is a rare enterprise that can make devices, services, and back-end technology architectures an integral closed-loop system, said Rui Yong, the group's senior vice president and chief technology officer.
With Lenovo involved in more AI-supported intelligent terminal products, the company's tens of thousands of specialty stores will be revamped to present more Internet of Things equipment and smart terminal products, said Liu Jun, the enterprise's vice president.

In the future, Lenovo's core will still be personal computer making, but the company will not be limited to PCs and will pursue personal computing equipment + cloud and personalized computing equipment + personalized cloud products, Yang said. The company will up its investment in three technical directions -- smart devices, smart cloud platforms and intelligent services, he said.

With the PC market gradually becoming saturated, Lenovo has been in the throes of transition in recent years. In the second half of this year, the outside world will see the effects of Lenovo's transformation and its smart phone business will get onto the profitability track, said Yang.