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"For example, everyone living in a city spends hours in traffic every day. So, Ping An uses technology to improve the traffic situation. Using artificial intelligence, we increased the traffic speed in cities by 30 percent to 50 percent. In the healthcare sector, our AI-enabled technologies help doctors to improve their medical ability and reduces misdiagnosis rates," Tan said.

"For instance, Baidu is leveraging AI to help supermarkets better manage their supply of fresh food, by analyzing and predicting which products are most popular," said Li, who runs China's largest search engine.

"First, the court must determine what acts of negligence or conditions of unseaworthiness caused the accident. Second, the court must determine whether the owner of the vessel had knowledge or privity of those same acts of negligence or conditions of unseaworthiness," he said.

"From the perspective of direct banks themselves, meanwhile, they don't have a clear strategic positioning, which results in overlapping of business with traditional banks."

"First and foremost, we comply with all local regulations, meaning that Chinese customers can place their data in our cloud and know that it's being protected," he said.