/PRNewswire/ — The 17th Annual Meeting of New Champions (AMNC, also known as Summer Davos) of the World Economic Forum was held June 23-25 at the Dalian International Conference Center. Alex Yang, co-founder, operations manager and chief financial officer of Tuya Smart (NYSE: TUYA; HKEX: 2391), was invited to participate in several events including “China’s Lobster Fever,” “AI and Future Growth,” and “Staying the Interface Master: Strategy in the Age of AI Agents.” There he shared his perspectives on the changing global AI landscape and the future of large-scale innovation.
China’s Lobster Fever session with Alex Yang Yi, Co-founder, Chief Operation Officer and Chief Financial Officer, Tuya, People’s Republic of China; Cathy Li, Head, Centre for AI Excellence; Member of the Executive Committee, World Economic Forum; Zhang Ying, Professor of Marketing and Behavioural Science, Guanghua School of Management, Peking University, People’s Republic of China during the Annual Meeting of the New Champions in Dalian, People’s Republic of China, on 24/6/2026 from 14:00 to 14:30 in the Dalian International Conference Center – Hub 4 (Zone E), Hub. (china lobster fever). ©2026 World Economic Forum
China’s Lobster Fever session with Alex Yang Yi, Co-founder, Chief Operation Officer and Chief Financial Officer, Tuya, People’s Republic of China; Cathy Li, Head, Centre for AI Excellence; Member of the Executive Committee, World Economic Forum; Zhang Ying, Professor of Marketing and Behavioural Science, Guanghua School of Management, Peking University, People’s Republic of China during the Annual Meeting of the New Champions in Dalian, People’s Republic of China, on 24/6/2026 from 14:00 to 14:30 in the Dalian International Conference Center – Hub 4 (Zone E), Hub. (china lobster fever). ©2026 World Economic Forum
Under the motto “Innovation on a Large Scale,” the forum brought together more than 1,700 leaders and innovators from politics, business and science from over 90 countries and regions to discuss how artificial intelligence, industrial digitalization and new innovation models are changing economic growth and the introduction of new technologies.
A new phase of global AI innovation
Breakthroughs in basic models and AI agents are accelerating the rise of artificial intelligence as a new arena of global technology competition. China’s AI industry and technology companies have increasingly attracted international attention due to their rapid commercialization and diverse applications. In keeping with this dynamic, AI and digital transformation were among the most discussed topics at the Summer Davos; The events discussed topics such as the limits of AI-first companies and the impact of increasingly autonomous, boundary-pushing AI agents.
Background to China’s “Lobster Fever”
The broad introduction of AI tools was one of the central topics of the forum. At the “China’s Lobster Fever” event, Yang joined Cathy Li, Head of AI, Data and Metaverse at the World Economic Forum, and S. Alex Yang, Professor of Management Sciences and Business Administration at London Business School, to discuss the factors driving China’s rapid adoption and innovation in artificial intelligence.
Yang pointed out that China’s ability to achieve large-scale adoption of AI is the result of several mutually reinforcing advantages.
“First, there are a large number of developers in this country who are actively engaged in research and development of AI applications. Second, both individuals and companies have shown a remarkable openness to explore and test new technologies. Fundamentally, the strong desire of the entire society for development and progress has become a powerful, intrinsic driver for innovation in the field of AI.”
“At Tuya, we are committed to integrating AI into various real-world industry scenarios,” Yang added. “In the smart home sector, we lower the barriers to developing AI-native products through standardized AI modules and an active developer community. In the energy sector, our AI solutions cover the entire energy cycle – from generation to transmission to storage and consumption. By integrating real-time and dynamic electricity price data from more than 800 energy suppliers across Europe, our platform can intelligently optimize energy utilization and help users efficiently reduce their overall energy costs.”
When it comes to AI commercialization, Yang noted that the industry is shifting “from traditional, usage-based pricing models to an outcome-based, value-based pricing model.” He added: “For companies, the winners of the AI era will be those who not only adopt AI technologies early, but also build AI-native organizations and talent.”
Promoting global AI applications through an open developer ecosystem
During the Summer Davos, Yang also gave interviews to major international media outlets such as CNBC, Bloomberg and CGTN, sharing his views on the commercialization of AI applications, the development of the developer ecosystem, and the large-scale deployment of AI hardware.
He stressed that at a time of rapid technological change and accelerating industrial transformation, open innovation is essential to maintaining long-term competitiveness. Looking forward, Tuya will continue to increase its focus on AI for Home, AI for Energy and AI for Robotics applications, working with developers and ecosystem partners worldwide to advance AI from technological breakthroughs to large-scale deployment.
Information about Tuya Smart
Tuya Inc. (NYSE: TUYA; HKEX: 2391) is a global leader in AI cloud platform services committed to integrating AI into everyday life. Through its open source development framework TuyaOpen and universal AI agent engines, including the AI agent development platform, Tuya integrates multimodal AI capabilities to reduce barriers to AI development, efficiently advance the realization of an AI-driven lifestyle, and accelerate the integration of AI into the physical world. Tuya provides innovative physical AI solutions for smart devices, commercial applications and industrial developers through its cloud computing and spatial intelligence capabilities. Additionally, the company offers a complete, open and neutral global AIoT ecosystem.
As of March 31, 2026, the Tuya AI Developer Platform had over 1,970,000 registered AI developers from more than 200 countries and regions.
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