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The Power of IoT: WIOTC 2023 Showcases Global Development Potential

The 2023 World Internet of Things Convention (WIOTC) recently took place in Beijing, showcasing the power of IoT for global development. The convention, attended by leaders, government officials, and executives from Fortune 500 companies, explored various topics including industrial IoT, smart logistics, agriculture, energy, transportation, healthcare, AI, and finance.

U.N. Secretary-General Antonio Guterres acknowledged the significant impact of IoT on industries and socio-economic changes worldwide. He highlighted how IoT applications in transportation, agriculture, energy, and healthcare are improving quality of life and contributing to the achievement of Sustainable Development Goals. Guterres emphasized the need for governance frameworks to ensure human rights, security, privacy, and a safer digital environment.

Ulrika Francke, president of the International Organization for Standardization, praised IoT’s transformative influence in sectors such as energy, agriculture, transportation, finance, healthcare, tourism, and education. She emphasized the importance of a unified approach across systems and international borders to fully realize the potential of IoT.

WIOTC Executive Committee Chairman He Xuming delivered a keynote speech analyzing data from research institutions and international organizations. He highlighted the rapid growth of the world digital economy driven by IoT intelligent technology, with a growth rate of 20% per year. Global IoT connections are expected to exceed 18 billion in 2023, a 20% increase from the previous year.

He also commended China’s role in the sustainable development of IoT infrastructure, mentioning the country’s plans to build over 3.2 million 5G base stations this year, making it the country with the largest new-generation network globally. China’s digital economy is predicted to exceed 60 trillion yuan this year, with a growth rate of over 25%.

During the convention, the “Build the Intelligently Interconnected Global Market of Digital Economy” initiative was launched. This initiative aims to promote economic transformation and upgrading worldwide, build a smart world supported by IoT, and contribute to the achievement of the U.N.’s sustainable development goals.

The WIOTC 2023 highlighted the immense potential of IoT in driving global development across various sectors. With the continuous growth of the digital economy and the increasing number of IoT connections, it is evident that IoT will play a crucial role in shaping the future of industries and societies worldwide.

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