The internet and artificial intelligence technologies are empowering businesses to upgrade industrial production, and changing the way people communicate with each other, company executives said.

Yang Yuanqing, chairman and CEO of China's largest computer maker Lenovo Group, said thanks to rapid technological advancements, smart manufacturing is no longer just about automated production and robotic arms.

"Instead, artificial intelligence will revolutionize the whole industrial chain, including research and development, supplier management, production, sales and services," Yang said.

According to him, as the internet of things, cloud computing, big data and deep learning technologies become widely used, society will be more intelligent.

"I think it is better to refer to artificial intelligence as augmented intelligence, for AI is not to replace people but empower people," he added.

When it comes to the cultural sector, the internet and AI are also playing a significant role in driving growth.

Zhang Lijun, chairman of V1 Group, a major media group in China, said the internet, as one of the greatest inventions of mankind, has thoroughly transformed people's ways of living, production and exchange, and also subverted traditional concepts of communication.

Data show that China now has over 750 million netizens, and globally, the number of internet users has exceeded 3.4 billion. The internet has become one of the most important tools for cultural development and communication.

"We should fully leverage the advantages of the internet and AI as a convenient transboundary tool with wide coverage, and make joint efforts with state-owned companies and private institutions to promote culture," Zhang said.

The company is working hard to develop and promote Chinese culture by way of short videos, and step up efforts to integrate traditional media with the internet.