The annual B20 (Business 20) summit, which gathers leaders of businesses from countries in the G20 got underway this weekend in Hangzhou, capital of East China’s Zhejiang Province with an opening keynote speech from President Xi Jinping.
- HTC is launching its own virtual reality app store
- Oculus Rift vs HTC Vive: Which is the VR king at the moment?
- HTC Vive vs Oculus Rift vs Playstation VR: how do they compare?
During his 50 minute keynote speech, President Xi Jinping highlighted China’s need to establish an innovative world economy and he sees the growth of VR being an integral part to that.
First, we need to build an innovative world economy to generate new drivers of growth. Innovation holds the key to fundamentally unleashing the growth potential. The new round of scientific and industrial revolution with Internet at its core is gathering momentum, and new technologies such as artificial intelligence and virtual reality are developing by leaps and bounds,” he said. “The combination of the virtual economy and the real economy will bring revolutionary changes to our way of work and way of life.”
It’s not the first time we’ve seen the emphasis placed on the importance of VR in China, with some companies making it their sole strategy to break into the market. The possibilities of virtual reality are limitless and real world application of the technology is being enhanced daily. With VR very much in its infancy, anyone who can leverage its potential are on to a winner.
South Korean President Park Geun-hye also mentioned both VR and augmented reality (AR) during her address at G20 itself on Sunday. According to Yonhap News Agency, the president said that “Innovation in the fields of virtual and augmented reality, the Internet of Things, big data, as well as artificial intelligence is leading the fourth industrial revolution, and the origins of such changes are people’s creative thinking and imaginative power.”
It seems that the focus is very much on exploring how virtual reality can enhance the technology and grow the economies of countries around the world and is good to see that the people leading these countries are very much bought into the concept of VR.