Web Summit 2019 redefining global tech industry
Updated 22:57, 07-Nov-2019
CGTN
05:34

The Web Summit 2019, on November 4-7 in Portugal's capital Lisbon, brings together the people and companies redefining the global tech industry. Organizers bill the summit as the world's most important tech gathering.

Lu Zhang, founder of Fusion Fund, observed that participants are paying more attention to diversity and sustainability of innovation.

"It's an amazing conference that has founders from different country and different types of innovation. Lots of founder here naturally have a global perspective. So they're not only trying to use innovation to solve the problem based in Europe, but also the United States and China," Zhang told CGTN.

She also discussed that tech buzz not only makes investors richer, but also makes the world a better place.

"The new trend we're having right now is not only talking about using technology to become rich, for founder and investor. We also want to use technology to make the world a better place," she commented.

CGTN's Cheng Lei (L) speaks with Lu Zhang, founder of Fusion Fund, on the sidelines of the Web Summit 2019 in Lisbon, Portugal, November 5, 2019. /CGTN Photo

CGTN's Cheng Lei (L) speaks with Lu Zhang, founder of Fusion Fund, on the sidelines of the Web Summit 2019 in Lisbon, Portugal, November 5, 2019. /CGTN Photo

Based on her point of view, business success is not opposite to creating positive social impact. Instead, she believes that huge business success will generate bigger social impact. Based on her words, business good is generating higher efficiency, and then technology and the Internet will help reduce the social inequality.

"For the past century, the business operation is on the opposite position of social good or social impact. But I think in the near future, for sure we have the opportunity to really combine these two together," she noted.

"For example, farmer in India will be able to have a better access to the information and connect to people –  better than the president of the U.S. 50 years ago. That's the power of technology," Zhang further explained.

Artificial Intelligence (AI) is also in the spotlight in this year's gathering. Zhang stressed that the development of AI should empower the existing player rather than disruption or replacement. And she saw a good trend in AI area this year – "the way companies justify the evaluation of AI is based on how better they could integrate their AI solution with the existing player."