COVID-19 has had a dramatic impact on China’s economy. Jenna Ross at Visual Capitalist describes how the effects on their economy could foreshadow what the rest of the world can expect. While China turns the corner on the health side of the story, the economic side is telling its story. This Article via the World Economic Forum uses visualization to tell this economic story. Countries in the early stages of the outbreak should take notice.
The path to breakthrough innovation is usually paved by compelling reasons to address challenges. China’s flourishing economy and continuous progress of medical reform has driven rapid expansion in their healthcare system and significant service improvements. There are over one million medical institutions in China and insurance covers more than 95% of the Chinese population. Average life expectancy has reached 76.4 years – higher than in some high-income countries. As with other countries however, population aging has put enormous pressure on their healthcare system – a phenomenon likely to play out everywhere as baby boomers retire. New innovations are likely to improve healthcare efficiency and offer new ways to address these global healthcare challenges.
I just finished a fantastic book on artificial intelligence and the evolutionary path of China and the U.S.. Author Kai-Fu Lee inspires, as he focuses on the astounding capabilities of AI, and the one thing that only humans can provide; love. The journey includes the author’s own brush with mortality, and proposes a path forward: the synthesis on which we must build our shared future is AI’s ability to think, coupled with a human’s ability to love. He believes this synergy harnesses the undeniable power of artificial intelligence to generate prosperity, while also embracing our essential humanity. His hope for our future lies both in this new synergy between artificial intelligence and the human heart, and an AI-fueled age of abundance that fosters love and compassion in our societies.
I recommend reading this book from cover to cover. In the meantime, here is a summary organized by several key themes.
This very good opinion piece addresses a subject that is gaining more attention and driving more dialog. Will artificial intelligence destroy jobs? Author Kai-Fu Lee has an opinion:
“It will soon be obvious that half of our job tasks can be done better at almost no cost by AI and robots. This will be the fastest transition humankind has experienced, and we’re not ready for it”