The world needs to bring about collective intelligence to address challenges of the global economy standing at an economic inflection point, said Chang Dae-Whan, Maekyung Media Group CEO as he opened the 18th World Knowledge Forum in Seoul Tuesday.

“The world is now experiencing the inflection point with the advent of the fourth industrial revolution led by artificial intelligence,” said Chang in explaining the current transition the world is experiencing.

The annual forum hosted by South Korea’s largest business media Maekyung Media Group is held until Oct. 19. This year’s discussions are devoted to “prepare for the fourth industrial revolution and bring the world common prosperity.”

The fourth industrial revolution would transform the society in new economic and industrial structures as the development of artificial intelligence is expected to bring the productivity growth at an unprecedented pace, he said.

“Historically, inflection points have always divided people into winners and losers,” said Chang, emphasizing that any individual or organization who fails to ride on this fast disruptive change would get left behind. He also mentioned the situations of the United States, Europe and China as examples of global leaders, who move backward, fearing the new future at the crossroads.

U.S. President Donald Trump’s “America First” doctrine is shaking the world with protectionism and geopolitical crisis. Especially there is mounting tensions in the world because of the absence of practical solutions for North Korea’s continuous missile and nuclear tests. Britain’s exit from the European Union and separatism in Spain are threatening Europe’s political, economic and social order. Washington and Beijing are set to wage a trade war in the name of protectionism.

Along with the conflicts among countries, the mankind has to find a way to coexist with smart robots embedded with the artificial intelligence in this age, he said.

By Han Ye-kyung and Lee Ha-yeon

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