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Bouee said he believes AI will emerge as a leading industry, and will greatly improve consumer electronics and data analytics. Ultimately, AI will change business models in telecommunication, media, financial, retail, transportation, insurance, consumer goods, automotive and education sectors, he said.

British insurance brokerage Willis Insurance Brokers Co Ltd in April became the first foreign insurance broker to apply for the expansion of its business scope in China. French insurer AXA SA also gained regulatory approval to set up a joint-venture asset management company in China through its local life insurance JV with the Industrial and Commercial Bank of China.

Businesses laud leadership's backing for technology-driven progress

Business meetings are an integral part of corporate life, but Peter Fleet, the newly appointed president of Ford Motor Asia-Pacific, has decided to slash them in his company.

But "if we need to tweak sat orientation to minimize solar reflection during critical astronomical experiments, that's easily done," Musk wrote.