How the Mighty are Learning to Change: Who is Evolving and Who is Dying

Paul Schulte and David Kuo Chuen Lee

Chapter 3 in AI & Quantum Computing for Finance & Insurance:Fortunes and Challenges for China and America, 2019, pp 75-88 from World Scientific Publishing Co. Pte. Ltd.

Abstract: In this chapter, we look at some of the transformation strategies of Chinese technology companies. In particular, we describe the advantages and challenges of China in commercializing technology into sustainable global business models. Primordial soup, or prebiotic soup, is used to describe a solution rich in organic compounds in the primitive oceans of the earth, from which life is hypothesized to have originated. According to Alexander Oparin and John Burdon Sanderson Haldane in the 1920s, this primordial soup is a fundamental aspect of the origin of life. With prebiotic soup, life originated, and the first forms of life were able to use the organic molecules to survive and reproduce. We can draw a similar analogy with the FinTech creations in China just like in the 1954 movie Creature from the Black Lagoon (see Figure 3.1)!…

Keywords: Financial; Lizard Brain; AI; USA; China; Banking; Insurance; Cloud; Quantum Computing; Insurtech; FinTech; Blockchain; Data Analytic; Singapore; Technology; Alibaba; Ping An; Tencent; Baidu; Zhong An; Softbank; Amazon; Google; Apple; Facebook; Microsoft (search for similar items in EconPapers)
JEL-codes: G20 O33 (search for similar items in EconPapers)
Date: 2019
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