Ping An’s innovations being introduced in Shenzhen will represent the next step in Smart City innovations globally. The US, Europe, Singapore, South Korea and Japan have a history of smart city development to improve their societies in unique ways. For example, the US has used smart city technology to work towards much needed infrastructure upgrades while Europe has increased efficiency and reduce pollution and congestion. South Korea and Japan have used Smart Cities to create livable and high functioning mega-cities such as Seoul and Tokyo.
The US began important Smart City development in 2008 lead by IBM. They developed smart solutions that were implemented during urban construction to analyze and measure urban activities to make operations more efficient and make cities more functional for residents. Europe began smart city construction in 2000 and has made tremendous progress since. 12 out of the 25 top smart cities of the world are located in Europe.
China, while coming later than other regions, is taking a collaborative approach by using the strengths of China’s top technology companies- Ping An, Alibaba, Tencent, and Huawei to develop the “PATH to Smart Cities” initiative. So far over 500 cities in China have plans for smart city development.
Ping An (P), a leading member of the “PATH” initiative, has invested more than 50 billion RMB in technology research in the past 10 years. It possesses a technical understanding that is unique in the PATH group. Ping An has developed considerable technical advantages in domestic enterprises in the four fields of intelligent cognition, artificial intelligence, blockchain and cloud technology. It has also been proven to be globally competitive in the field of facial recognition.
The other PATH members bring their own unique strengths. Alibaba (A) focuses on helping businesses and residents thrive through AliPay. Tencent (T) helps residents stay connected and better communicate with each other. Huawei (H) helps implement core hardware technology with smartphones and networking.
Attendees of the China Smart City International Expo will have the opportunity to learn about how Ping An is leading the “PATH” companies to advance Smart City development globally. To learn more about Ping An’s work in this field, visit Ping An Smart City in Hall 1, Booth B006 at the China Smart City Expo.
About Ping An:
Ping An, with the most comprehensive range of financial business licenses, the widest business scope, and the most compact shareholding structure, currently ranks 29th out of the Global Fortune 500. Founded in 1988 in Shekou, Shenzhen, Ping An has become one of few major financial groups in China to provide customers with a full range of financial products and services, including insurance, banking and investment.