Name: What’s in Store: The Future of Retail
Uploaded: 2019-11-08
Duration: 19 min 2 s
Description: Technologies are transforming the way we spend, save and move our money.

Many years ago, of a famous British professor in the Israel Imperial University industry, if [ UNKNOWN ] 30 students were doing a research project with AI algorithm So analyzing the pixels on the screen can understand a game also operate it. Later on the student and to Cambridge friend created a company which become one of the few British company unicorn company. The student is who Peter lip car Improper company. The first question. Peter. The first question I would like to ask Peter. There's a media report, headline, if all of us live in a virtual world. Maybe your company will be able to create the war, at the same time you will sell much like you want to create a matrix. It's D matrix as in the few. So Peter Coyote service us. This like a seemingly crazy business idea what is that. Hi Derek I think we already living in the matrix right now you just don't know it. Okay and nope it and it is in all seriousness will believes in a future where we all live in multiple wells at the same time. With most of them being virtuals and oversee the physical world we live in all today. And not this kind of scary future that the matrix portrays. We belive these new worlds are gonna be vital to us. And we're gonna gain a lot of meaning and we're gonna enjoy our existence in them. And so, from our side, we believe that these worlds will come from a variety of places. They come from social media. So for example, people already live And brief social media they interact with in these worlds, they make money from these worlds. And the other one place that they're gonna come from is games. We make games will become the basis of these new virtual worlds. And there's a great statistic that earlier this year they made a survey with four kids that played fortnight and over a third of them found that fortnite is More important to them than many parts of the real world. In China, over 50 % of gamers say that games, let them interact with their family become closer to their family and their friends. And to create these kinds of online experiences is very key to have innovation. And so we've created a product spatial awareness that allows them to To create new types of innovation and de risk the experimentation with that innovation to create these very great experiences that really help them and make them enjoy the lives more. Okay, thanks, Peter. Peter give us a very smart answer. He was talking Even though we do not have to care what kind of war is that we're not many of us today are already living and breathing in this war. Also in the games, the question is for Mr. Young. China's gaming market, is very unique. Very few gaming companies actually capture half of the market. You happen to be the Asia the top two company leading far distant all the other companies. How do you define the gaming industry's content creation? Okay content creation. Actually content includes many, but it's future is towards become more and more elegant. Right now, the biggest market share is a long [ INAUDIBLE ] game. Camera resistant, fighting on the PC, also mobile games. But if you look at the smartphone proliferation by starting in 2012, it's now become more and more popular at the very beginning. There's a lack of products in a bouquet. Whatever games you learn tends to be many people coming over to learn and play that. So, our pursuit or quality demand and quality is at that high. We don't just want to as quick as possible launch new products and to capture the market share. But Today when the population dividend is disapproved, so, products are become more and more customers are become fewer and fewer. But how can we capture meaningful customer you have to come up with very good quality games. Better and better in content actually include the artistic quality of the games and the content, your work outlook, the approach of gaming, whether the game is a small so not an experiences you can provide to the customer to the player you want to do Well in all this aspect, the input into this games cause and cycle will be very, very high at the very beginning the triggers on a six months to come up with a game or even shorter but now we found. It may take one to two years or even three years. So the development cycle is longer barriers higher and higher. If you want to do a good content game, this is what we see today. Why the barriers Higher and higher. The company who did very well, people the company's accumulated acumen Tyler is funded, they have the resources to have the time to come up with better games. But for smaller companies, or startups you know, they lack resources to the game they produce Quality will be lower compared to the big ones. However, in a market the market only recognized the best ones, this is why in the process of development of industry gradually it will have this situation Mobile games market when you look at that. This situation will continue, the future of the content will be better and better in quality, 5G technology, the faster speed of transmission, cloud computing etc. All these technical entreaties will enable your games. Become more and more excellent. The image quality better and better transmission faster and faster and bigger, bigger in Mega Giga hundreds of thousands online the same time or 100 people fighting each other this type of game will be there. but some new devices from PC to the mobile terminal, the carriers are changing, AR, VR equipment, on the market, it is not being very popular but they are emerging, for new startups there is platform, new company May represent the opportunity because on this platform, for many traditional existing gaming players, they may have different experiences. This may represent a new starting point. Even though you have accumulated a lot of resources, we'll start off the challenge the same. This might be a challenge for smaller one. So human talents and machine devices, will be will be important. Okay, we'll have further questions for you later. Questions for Mr. Joe. Are they investor. You have been fighting very hard you have your own set of strategies like a tribal strategy, YU select area, you will go all out within two three months to find all the investment opportunities to seize the good window. The problems, why you succeed a Corporate in Himalaya and other new platforms of the gaming industry. Unicorn companies already IPOs so educating our media industry Do you think there will be new opportunities. New opportunities will be live, there will be many. So regret sorry, we missed, working with your company. Actually two years ago, we have a main thing. The Next Generation Entertainment platform I believe, for Himalaya content or games industry. The all digital light station will bring about a new enhancement of opportunities, the interaction between people and machine and people to people interaction or even further. We want to find out people in the games and how they can interact with the human in real world. With all though find such a mechanism to do that, so in the process of searching for all of these, we meet peter's company, but we still believe going forward all the entertainment contact will be more interactive, will have more UTC. So may I may not agree with Mr. Ya, all the games will be more cool more and more cool and big, larger and larger. Maybe your platform provide opportunity, the smaller wise Cray in a bigger war, a small gaming war. But when the date monopolize the big world, but nobody was there will be many new opportunities will be many different ways of playing these games. The advantage of this interaction many non gaming players in the future or a non content participant in the process, they will participate to some degree. A literary translation Chinese online normal to readers, you know actually a very popular kind of, you know it's happening. It's more and more popular going forward many entertainment and other things. Player the participants can become a organic part of this whole thing. I change the roadmap. But there's another thing we want to focus. Digitalization is stronger, stronger, closer, closer communication between people feel closer closer with V Chad and everything. So the school may not have to see each other they can get together on a nap. So people feeling lonely is a major problem like in Japan Loneliness. So we pay a lot of attention to people in game's communication with people in real life. We also pay special attention to the next generation of, [ BLANK_AUDIO ] Situation. What kind of changes [ BLANK_AUDIO ] So, actually this is something we think will happen in the next 20 years. So basically Mr Yang believes, Mr Yang and Peter gave us their specific idea. So if your platform like Google and Angel can be more open, providing a ecosystem with Angel and Google so gaming company in Toronto PK the global competitors. So it should be More open and more fair for people to compete with each other. Mr. Joel mentioned, he said it reminds me of a disruptive platform product special west of your company. Joel mentioned, if you use financial industry, frequent Trading mechanism into the game is so special where's technology create a many new values. Maybe you can share with us what kind of new materials you're talking about. Had a lot of people that were outside the games industry from Google I went to Amazon to I came from Goldman Sachs. And so we set out to create the the ability to create these new huge virtual worlds and that people were talking about here today. However we very soon realized that the games are already very risky and endeavour and often they cost hundreds of millions. And so [ UNKNOWN ] mentioned about looking more and more expensive and take longer and longer. And so we realized actually the key is about reducing risk, reducing time to market and actually incremental innovation Let them do what they already do very very well, you know building Call of Duty 16 or 17 I think this year is out, but let them do that little bit extra, that little bit more either, more interesting AI, or more interesting kid of simulation or more people, and let them incrementally innovate rather than jump straight into this large virtual worlds. And so that's why we created special OS and to enable them to reduce that risk of game development, create the experimentation of innovation, and effectively make better and more compelling games. So in China, we're, quite lucky because Now partnered with Netease really believes this they're an investor as well and building games on top of our technology, as well as Tencent cloud as well, who are building the creating the kinda fundamental infrastructure which we can run on the cloud infrastructure. And so that's the value that we bring to our customers. So touching each other Indeed your for 10 cents and NASA ease. They are so visionary that they have seen the value that can be created by your company. So for the 60 advantages, Mr. Young, so would you like to enlighten us that's a big data. Well have a big impact on gaming development and to may even change the life cycle of game. Is it right? Yes, you are very right. Because either era or you the digital era, big data, yes essential, including in the gaming industry. So we use big data analysis assistant. For example, we have collected a lot of data from the existing games, various activities and the favorable scenarios. So these kind of information connected were very helpful for our future gaming development And the way we are searching for customers and we need to find a market position there how to target the right market position. We also depend on big data so that we can reach our right kinds right customers as quickly as possible. So when it comes to our customer behavior, how long they stay with our game, we will use a big data analysis in order to improve it. So big data helps us a lot. Now, we would like to go deeper a little bit Peter because we know that your focus is the game, and may be in the future you will go beyond the game. For example, a mining simulation, urban simulation if a fire break out You needed to do a simulation. So maybe the future there will be competition, cross sector competition and for ultra Daza, so for how do you view the cross sector competition and the opportunities. Gaming is in a very interesting space. It's at the intersection of simulation, visualization, as well as human interaction. And so there are definitely applications of something like spatial that's outside of gaming. You mentioned quite a few areas that we've already explored. And a good picture that I like to paint is imagine large scale disaster recovery. What happens when for example an earthquake that happens in a place, you didn't predict before. You can try and predict what the impact will be on buildings and on the infrastructure, but how do you train The thousands of first- responders. The thousands of people to help save lives and save the environment that we're in. The fire department and the police department. The medical department Government officials, they often don't work together. They don't know how to go in and go towards in a particular objective together. And so, how do you train them? If you created a virtual world where they can all interact with each other, and train for these kinds of Scenarios, you can save lives and you can save a lot of money and so that's why we see our potential application areas. And some of the other businesses that do just a portion of it, either visualization or simulation, they haven't put it all together. So we see potentially others as partners rather than competitors. Okay, [ FOREIGN ] Yes or no? [ FOREIGN ] I asked a question Mr. Joe, what do you think of Peters view? Do you think that investors will increase their evaluation of your value? Your valuation, yes, not so solid, we would like to increase our value. For example, high resolution. Three dimensional map will be something that will consider. Thank you. Thank you, Mr. Joe and other panelists and I would like to conclude with a quote from Mr. Joe. In this world we would like to grow as a species that's a people have never seen these species. We'll create a new world, thank you. [ APPLAUSE ] [ BLANK_AUDIO ]

What’s in Store: The Future of Retail

Technologies are transforming the way we spend, save and move our money.