Online exhibitions bet on AI and big data to aid beleaguered industry as Hong Kong seeks return to normalcy
- Participants in online trade shows say artificial intelligence is helping them find the buyers and suppliers they need during the Covid-19 pandemic
- Many exhibitors are still eager to return to physical shows, pinning hopes on travel bubbles aiding meetups in the near future
After the Covid-19 pandemic forced exhibitions and trade fairs to shut down around the world, new technology is starting to offer a glimmer of hope. Online platforms aided by artificial intelligence are helping exhibitors continue to connect with buyers and strike deals while being unable to meet in person, according to Hong Kong’s trade promotion body.
“Global sourcing is becoming increasingly focused on digital solutions following the pandemic, but we also believe online exhibitions cannot completely replace physical ones,” Benjamin Chau, deputy executive director of the Hong Kong Trade Development Council (HKTDC), told the Post via email on Thursday.
Chau said he believes future HKTDC exhibitions will adopt a hybrid model featuring both online and offline channels, allowing the organisation’s digital sourcing platform to be used for year-round trade fairs and exhibitions.
“We will keep an eye on the Covid-19 situation and be prepared for all eventualities,” Chau said. “We will resume physical exhibitions when the pandemic abates, while continuing to organise diversified virtual sourcing fairs.”
Like other online platforms, HKTDC is betting on big data to help its customers. Chau said the organisation is using AI and machine learning to more efficiently and accurately match up buyers and suppliers. Natural language processing is also helping to screen out false inquiries and provide personalised recommendations to buyers, he added.
New technologies have become essential tools for surviving during the Covid-19 pandemic, which continues to disrupt global supply chains and has forced cities and businesses to shut down around the world.