He Baohong: The Metaverse Will Promote the Deep Integration of Digital Economy and Real Economy

According to reports, He Baohong, the director of the Institute of Cloud Computing and Big Data at the China Academy of Information and Communications, stated in an interview that there is still considerable room for improvement in the scale of industrial digitization in China, and innovative applications of digital technology are still urgent. In addition, the metaverse will promote the deep integration of the digital economy and the real economy. The current digital economy is more like the Digital transformation of the traditional economy, while the organizational form of enterprises in the future digital original world, the metauniverse or Web3.0 should change greatly.

He Baohong: The Metaverse Will Promote the Deep Integration of Digital Economy and Real Economy

I. Introduction
A. Definition of Industrial Digitization
B. Significance of Industrial Digitization in China
C. Significance of Digital Technology Innovation
II. The Current State of Industrial Digitization in China
A. China’s Digital Economy
B. Overview of China’s Industrial Digitization
III. Challenges of Industrial Digitization in China
A. Financial Constraints
B. Skill Gap
C. Poor Infrastructure
IV. Innovative Applications of Digital Technology in Industrial Digitization
A. Big Data Analytics
B. Artificial Intelligence
C. 5G Networks
V. The Emergence of the Metaverse as a Game Changer
A. Concept of the Metaverse
B. Advantages of the Metaverse
VI. The Future of Digital Transformation
A. Organizational Changes in the Digital Original World
B. Characteristics of the Metauniverse
VII. Conclusion
# According to Reports, China Needs Innovative Applications of Digital Technology for Industrial Digitization
The rapid change in technology has led to a shift in how industries operate, with digitization being the new normal. Industrial digitization has become increasingly significant in today’s world, as it provides a competitive edge for industries. In China, the Institute of Cloud Computing and Big Data has been tasked with spearheading the country’s efforts towards industrial digitization, and according to He Baohong, the director of the institute, there is still considerable room for improvement in the scale of industrial digitization in China, and innovative applications of digital technology are still urgent. This article explores the concept of industrial digitization and innovative technologies that China needs to implement to achieve industrial digitization.

Definition of Industrial Digitization

Industrial digitization refers to the use of digital technologies, such as big data analytics, artificial intelligence, and the internet of things(IoT), to transform industrial operations. The transformation is aimed at improving efficiency, productivity, and innovation. Industrial digitization enables companies to create a digital twin of their physical operations to gain insights and make better decisions.

Significance of Industrial Digitization in China

The Chinese government has recognized industrial digitization as a strategic priority to achieve economic growth and modernization. Several policies have been put in place to support industrial digitization in China, including the Made in China 2025 strategy, which aims to transform China into a high-tech manufacturing powerhouse.

The Current State of Industrial Digitization in China

China’s digital economy is the world’s largest, with a value of over $5 trillion. However, China’s industrial digitization is still in the early stages, with only a small percentage of industries having adopted digital technologies. According to a report by Deloitte, China’s industrial digitization level is at 21%, compared to 33% in the United States.

Challenges of Industrial Digitization in China

Despite the importance of industrial digitization, China still faces several challenges in its implementation, including financial constraints, a skill gap, and poor infrastructure.
One of the challenges hampering China’s industrial digitization is financial constraints. Funding for technological transformation remains a significant obstacle for many industries in China. Many small and medium-sized enterprises (SMEs) find it challenging to access financing for technology investments.
Another challenge is the skill gap. Lack of digital skills among workers is a significant obstacle to industrial digitization. Many workers in China do not have the skills required to operate digital technologies, worsening the skills gap issue.
Finally, poor infrastructure is another challenge that is hindering China’s digitization efforts. Many rural areas in China lack the required digital infrastructure to support industrial digitization.

Innovative Applications of Digital Technology in Industrial Digitization

To overcome these challenges, China needs to adopt innovative technologies in industrial digitization such as big data analytics, artificial intelligence, and 5G networks.
Big data analytics involves the collection, processing, and analysis of large sets of data to gain insights and make better decisions. By analyzing large amounts of data, companies can make better decisions, improve production efficiency, and increase revenue.
Artificial intelligence (AI) involves the use of machines to perform human-like tasks such as problem-solving and decision-making. AI can be used to automate repetitive tasks, which improves efficiency and reduces errors.
5G networks are the next-generation mobile networks that enable high-speed data transmission. 5G networks support several applications, such as IoT, robotics, and autonomous vehicles. 5G networks can also support virtual reality and augmented reality technologies, which are essential in industrial digitization.

The Emergence of the Metaverse as a Game Changer

The metaverse is a virtual universe that is expected to revolutionize the way industries operate. The metaverse is an immersive virtual world that allows users to interact with digital objects as if they were real. The metaverse integrates several technologies, including virtual reality, blockchain, and AI.
The metaverse offers several advantages to industries, including improved collaboration, enhanced creativity, and reduced costs. Virtual meetings, for instance, can take place in the metaverse, reducing travel costs and improving the speed of decision-making.

The Future of Digital Transformation

Digital transformation is evolving rapidly in China, with the emergence of a digital original world or the metauniverse. The metauniverse is the next generation of the internet, which provides a three-dimensional immersive experience, where users can interact with virtual objects and each other.
The metauniverse will change the organizational form of enterprises, leading to a shift in the organizational model in the digital original world. Companies will need to transform from traditional organizational structures to decentralized autonomous organizations (DAOs). DAOs allow decision-making to be decentralized, enabling members and stakeholders to contribute to the decision-making process.

Conclusion

Industrial digitization is vital for China’s growth and development. The government needs to create an enabling environment by providing funding for technology upgrades, investing in digital infrastructure, and promoting digital skills development programs.
The metaverse presents an opportunity for industries to explore and experiment with new ways of doing business. The digital original world will require a change in the organizational model to accommodate new opportunities and challenges. It is imperative that companies adapt and embrace the changes to stay competitive.
# FAQs
1. What is industrial digitization?
Industrial digitization refers to the use of digital technologies to transform industrial operations and improve efficiency, productivity, and innovation.
2. What are the challenges of industrial digitization in China?
The challenges of industrial digitization in China include financial constraints, a skill gap, and poor digital infrastructure.
3. What is the metaverse?
The metaverse is a virtual universe that integrates several technologies, including virtual reality, blockchain, and AI, to provide immersive and interactive experiences.
# Keywords
Industrial Digitization, Digital Technology, China, Metaverse, Innovation, AI, 5G.