The World Artificial Intelligence Conference (WAIC) in Shanghai is underway, marking its ninth year as a premier event showcasing China’s progress in artificial intelligence. The four-day conference, held at the Shanghai World Expo Exhibition and Convention Center, has attracted "record-breaking" participation, with over 1,400 guests and 1,100 companies presenting more than 3,000 exhibits, according to China’s state-run Global Times.

Dedicated to "exploring the frontiers of AI technology and driving innovation in the field," the WAIC highlights China’s growing influence in AI, particularly as its cost-effective models gain traction worldwide. The event follows a recent United Nations meeting in Geneva focused on AI governance, which underscored differing perspectives between the U.S. and China on managing the technology’s development and risks.

Meanwhile, in South Korea, the Bank of Korea is poised to begin a cycle of interest rate hikes amid inflation pressures and strong economic growth driven by the semiconductor sector. Observers expect the central bank to raise its benchmark rate to 2.75% during its upcoming rate-setting meeting. This monetary policy decision comes amid a weakening of the South Korean won, adding complexity to the economic outlook.

In broader regional developments, the Nikkei Asia Forum APAC 2026 is scheduled to take place in Bangkok, convening political and business leaders across Asia to discuss critical issues such as energy, mobility, and AI innovation.

Additionally, the financial sector is experiencing leadership changes. HDFC has appointed Rajiv Kumar as its part-time non-executive chairman following the abrupt resignation of Atanu Chakraborty in March. Meanwhile, Kotak Mahindra’s CEO and Managing Director Ashok Vaswani has announced plans to leave the lender by the end of the year.

China’s economy showed signs of slowing growth, expanding by 4.6% year-on-year in the second quarter, down from 5% in the first quarter. This economic data adds context to the region’s dynamic economic and technological landscape.

Why It Matters

The WAIC’s record participation underscores China’s ambition to lead in AI technology amid global debates on governance and ethical standards. South Korea’s anticipated monetary tightening reflects efforts to balance inflation control with sustaining growth in a key semiconductor-driven economy. Together, these developments highlight Asia’s pivotal role in shaping the future of technology and economic policy.

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