Data Element Empowerment Salon for New Quality Productivity Development Successfully Concluded!

On the morning of May 16, 2024, the salon event themed 'Data Elements Empowering the Development of New Quality Productivity' officially kicked off in Hunan, attracting a multitude of industry elites and forward thinkers!

Guided by the Hunan Provincial Data Bureau and hosted by Hunan Changxin Financial Holding Group Co., Ltd., the event was   co-organized by Hunan Tianhe Guoyun Technology Co., Ltd., Guangzhou Youshu Digital Technology Co., Ltd., and Hunan Blockchain Association, with support from the China Chapter of the Data Management Association International (DAMA CHINA), the International Institute For Advanced Data Management Study, and Data Trading Network.

The event featured three distinguished guests who have made outstanding achievements and possess rich experience in the fields of data elements, data asset management, and value enhancement. Professor Zhang Xianghong, a senior engineer at the professorial level and a recipient of special allowances from the State Council, shared his remarkable contributions to the electronic information industry and information security, propelling the development of China's electronic information industry. Mr. Liu Jiawang, an expert member of theZhejiang Data Asset Standard Drafting Team and a specially appointed expert at the Wenzhou Data Asset Management Pilot Unit, leveraged his exceptional contributions in data assets and elements to facilitate regional projects for incorporating data assets onto balance sheets, thereby boosting the appreciation of corporate data assets. Dr. Wu Dayou, initiator and leader of the International Senior Institute of Data Management and General Manager of Youshu Tech, shared his significant achievements in global data asset management and standardization, steering corporate digital transformation and enhancing data asset value.

The event commenced with a comprehensive opening introduction. Onsite, Prof. Zhang Xianghong, a senior engineer at the professorial level and a State Council special allowance expert, deciphered the national framework of "Six Horizontals and Two Verticals" for data elementization and delved into the eight stages of data elementization, proposing eight strategies for advancing it. He meticulously analyzed key aspects including National Data Infrastructure (NDI), the development and openness of public data, authorizedoperation of public data, the data industry and technology, data trading and cross-border circulation, Digital China, the institutional system for data elements, and the security system for data. He emphasized, "Digital China represents the ultimate objective of the entire data elementization endeavor; the current focal points are formulating the system for data elements and constructing data infrastructure,nurturing the data industry."

Addressing the research and exploration of full-process management for data assets, Zhejiang Data Asset Standard Drafting Team expert Liu Jiawang meticulously outlined the policy backdrop for assetizing data, along with the challenges encountered in standard specifications, property rights registration, asset management, and authorized operations. He proposed a holistic solution for integrated data element construction under the metaphor of "points, lines, surfaces, and solids," suggesting that decentralized management can reduce the cost of data asset administration. Emphasizing that software is fundamentally about providing data services – the foundational tool for enabling data services – he underscored that the process of data asset management outweighs the outcome and requires systematic thinking with a value-oriented mindset.

Dr. Wu Dayou, initiator of the International Institute For Advanced Data Management Study and Director of the Global Data Elements 50 Forum Expert Group, shared on the theme 'AI-Driven Data Insights: A New Engine for Enterprise Value Addition,' aligning with the booming AI market. From the perspectives of data asset origination, development, and operation, he elucidated how enterprises can efficiently and systematically collect and leverage data through AI to generate high-value data assets. He posited that data assets possess five critical functions: economic value, decision support, business optimization, risk management, and innovation drive. By employing theNOVA model for continuous accumulation and effective utilization of data assets, businesses can achieve three leaps in data value realization across scenario positioning, data aggregation, and quality enhancement phases.

The salon reached its climax during the interactive Q&A session, where attendees actively posed questions, receiving highly targeted responses from experts that effectively addressed their data element challenges.

More than a feast of cutting-edge knowledge, this salon served as a confluence of intellectual exchange and collaboration opportunities. It showcased the opportunities and vitality of data elements in empowering the development of new quality productivity, imparting invaluable strategic insights to the attending guests.

We welcome all to follow our salon updates and encourage interested readers to participate in our upcoming events. Together, we willcontinue to explore new paths for data elements to empower the growth of new quality productivity, jointly scripting a brilliant chapter inthe era of smart data!