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BOE (BOE) Chairman Wang Dongsheng: The Path to Success in the Event of Things
On November 7th, Japan time, Wang Dongsheng, Chairman of BOE (BOE), delivered a keynote speech titled *"From the Display Device to the Smart Port: A Path to Success in the Event of Things"* at the 19th *Nikkei World Executive Conference*. As the sole Chinese business leader invited to speak at the event, Wang provided valuable insights into the theme of the conference, *"Creating Opportunities from Disruptive Innovation."* He shared his vision on industry development and how companies can adapt and evolve to stay ahead in an ever-changing landscape.
Since the first mass production of TFT-LCD in Nara, Japan, in 1991, the global semiconductor display industry has undergone remarkable growth. By December 2017, BOE’s Hefei 10.5-generation line was set to launch, marking a significant milestone. Over 26 years, the industry has grown rapidly, with the total output value expected to surpass $120 billion in 2017. The scale of investment in glass substrates is so large that it could cover nearly 40,000 football fields. Semiconductor displays have become a key driver for the ICT industry's expansion.
Since its founding in 1993, BOE has always emphasized technology and innovation. Even during tough times, the company maintained a commitment to R&D, investing 7% of its revenue. Today, BOE has grown into a major player in the global market. According to the IHS Global LCD Panel Report, in the first three quarters of 2017, BOE accounted for approximately 25% of global shipments, ranking first in total volume.
Wang Dongsheng highlighted that the growth driven by mobile internet has slowed in recent years. However, the rise of artificial intelligence and genetic technology has triggered the first wave of the fourth industrial revolution. The evolution of AI is transforming silicon-based life systems, while the integration of AI and genetics is pushing forward carbon-based life systems. This convergence marks a new era of industrial transformation.
Looking ahead, BOE is focusing on the intersection between silicon-based and carbon-based systems. It is strategically planning future business areas, aiming to become a company that provides intelligent solutions for information interaction and human health. Through display technology, BOE is building capabilities in sensing, AI, and big data, expanding into smart systems and health services.
According to McKinsey, the IoT market is projected to grow tenfold from 2017 to $11.2 trillion by 2025, making up 10% of global GDP. However, turning this potential into reality requires overcoming challenges such as data processing, algorithm support, high-quality big data, and security. Wang believes that success in the IoT era will come from collaboration rather than isolation.
He advocated for cross-industry cooperation to seize opportunities amid challenges. BOE will continue to promote open platforms and technologies, following the ICPST model—Integration of Chips, Panels, Software, and Things. With a collaborative mindset, BOE is opening up its application and technology businesses, partnering with experts in computing, storage, sensing, software, content, and more to create value and share growth opportunities.