MSc in Data Science is a joint programme launched by School of Data Science and School of Management and Economics, in collaboration with Shenzhen Research Institute of Big Data and Shenzhen Finance Institute.
Introduction of speaker:
Mr. Li Renjian is the Master of finance from Shanghai Jiaotong University and got Bachelor Degree in computer from Sichuan University. He is the representative (the venture partner) and works as the strategy consultant in several start-up companies. Used to work in the investment group of Zhongxin Capital Investment and Ali Group and owns the experience of early whole chain investment and exit strategy and he has been focusing on the industrial investment of Internet and technology. As the early investor of some well-known corporations like Repo, Linklogis, Mr.Li Renjian is also the strategic investor of some corporations like Meizu and XiFeng Liquor.
On January 9th, 2020, the representative of Baidu Ventures Mr. Li Renjian has been invited by Data Science Programme to share his ideas about how to seize the chances under the background of industrial transformation of Data and AI Technology. With vivid descriptions about his career experience, he provided lots of unique viewpoints for students.
At the beginning of the lecture, the co-director of the Master of science in Data Science Programme, Assistant Dean of School of Science and Engineering, Vice professor Junhua Zhao has introduced the career experience of Mr. Li Renjian and he also mentioned their friendships in the long run. At first, Mr. Li Renjian introduced the current entrepreneurial background and mentions the popular saying, which is, the year of 2019 is the worst year in the past 20 years yet the best year within ten years. Due to the massive demographic dividend, the rapid GDP growth, massive unmet demand and lack of industrial landscape, everyone can get a piece of cake in the market. However in the future years, since the demographic dividend will gradually decrease, lots of demand will be satisfied and industrial landscapes are comparatively integrated, we’ve got to face more difficulties in the market. The future entrepreneurial environment will favor entrepreneurs with high academic backgrounds as well as high strategic mindsets and technical backgrounds.
Later, he mentioned that, there are two kinds of start-ups that are students’ favorite in terms of investment, they are start-ups run by successful entrepreneurs with great experience and start-up run by students. For the former, they’ve already got rich resources and it is quite natural that they could get favored but what about the students? Reasons are students do not have much burden and they dare to take challenged and also, the investment cost is comparatively low. Even if they fail their business, their entrepreneurial experience itself is a shining point in their CVs. The famous DJI-Innovations whose value is more than ten billion, is a great example of student start-up.
Mr.Li Renjian also introduces three dimensions in AI, the first is the level of perceptual computing( digitizing the physical world), such as facial recognition, digitizing Taobao behavior and digitizing offline spaces(to digitize the activities and purchase records in everyone’s life). The second is precision and internship decision making. For example, Coco Chanel will collect consumers’ favorite styles and they recommend the similar ones as well as provide discount service to boost the consumption. The third is higher industrial efficiency such as the farm experiments that are undergoing. Scientists use satellite data to gather information about crop growth in order to predict the most suitable time for pesticides and fertilizers. With the support of AI technology, the amount of pesticide and fertilizer have been cut in half.
After sharing some basic knowledge about industry, Mr.Li Renjian has provided some crucial tips for students who want to start their own businesses. Factors include qualified partners, serious attitudes towards products as well as high efficiency. Here, many thanks to Mr.Li’s wonderful sharing and it is believed that students can gain a lot in this lecture. Looking forward to the following lectures in the future.
Comments from Shuting Han majoring in Data Science Programme:
"On January 9th, 2020, I was so honored to get the chance to enjoy the lecture delivered by Mr.Li Renjian, the tutor of data and science programme. In his lecture, Mr.Li Renjian mainly talked about his analysis about technological revolution of AI and how we can better invest as well as start our own businesses. I got to know that, features of AI can be summarized as “more precise cognitive ability about data”, “computing ability with lower cost and higher efficiency”, and “real time decisive ability”. In other words, we’ve got to create a physical world with finer granularity, and make high-efficient, accurate decisions in terms of computing and decision-making. Based on this technical background, when we invest and run our own businesses, we shall take more considerations about the strategic products with huge market potentials. And I also get to notice that, situations nowadays are quite different what it used to be, since nowadays we’ve got to invest lots of time and patience and at the same time, do well preparation and analysis about the market as well as be ourselves and dare to be different so as to benefit from our investment and make great business."