Voices | Jack Ma: Manufacturing sector will be facing tremendous difficulties in a decade

Jack Ma said that within the next 10-15 years, the pain of traditional manufacturing will be beyond imagination. He said, “If enterprises cannot transform from the old ‘economies of scale and st

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Jack Ma said that within the next 10-15 years, the pain of traditional manufacturing will be beyond imagination. He said, “If enterprises cannot transform from the old ‘economies of scale and standardization’ to the new ‘individualization and intelligence’ model, it will be difficult to survive. A successful manufacturing company in the future must be a company that uses smart technology because enterprises that do not use smart technology will fail.”

Jack Ma also mentioned that young people have high abilities to innovate. Governments and entrepreneurs should use their resources to prepare the new environment for them. “Today it is not China’s manufacturing industry that is incapable, it is your manufacturing technology that is lagging behind. It is not China that is not creative, it is you who is not creative enough to innovate. It is not the young people who are not making efforts, it is you who is not making efforts to (prepare the new environment for the next generation).