DALIAN, China, June 26, 2026 /PRNewswire/ — The 17th Annual Meeting of the New Champions (AMNC, also known as “Summer Davos”) of the World Economic Forum was held from June 23 to 25 at the Dalian International Conference Center. Alex Yang, Co-Founder, COO, and CFO of Tuya Smart (NYSE: TUYA; HKEX: 2391), was invited to participate in multiple sessions, including “China’s Lobster Fever,” “AI and Future Growth,” and “Owning the Interface: Strategy in the Age of AI Agents,” where he shared his perspectives on the evolving global AI landscape and the future of innovation at scale.
Under the theme of “Innovating at Scale,” the forum convened more than 1,700 leaders and innovators from government, business, and academia across over 90 countries and regions to explore how artificial intelligence, industrial digitalization, and emerging innovation models are reshaping economic growth and technology adoption.
A New Phase of Global AI Innovation
Breakthroughs in foundation models and AI agents are accelerating the rise of artificial intelligence as a new frontier of global technological competition. China’s AI industry and technology enterprises have drawn growing international attention through rapid commercialization and extensive application scenarios. Reflecting this momentum, AI and digital transformation were among the most discussed topics at Summer Davos, with sessions exploring topics such as the boundaries of AI-first enterprises and the implications of increasingly autonomous cross-border AI agents.
Behind China’s “Lobster Fever”
The widespread adoption of AI tools was among the forum’s defining themes. During the session “China’s Lobster Fever,” Yang joined Cathy Li, Head of AI, Data and Metaverse at the World Economic Forum, and S. Alex Yang, Professor of Management Science and Operations at London Business School, to discuss the factors driving China’s rapid AI adoption and innovation.
China’s Lobster Fever session with Alex Yang Yi, Co-founder, Chief Operation Officer and Chief Financial Officer, Tuya, People’s Republic of China; Cathy Li, Head, Centre for AI Excellence; Member of the Executive Committee, World Economic Forum; Zhang Ying, Professor of Marketing and Behavioural Science, Guanghua School of Management, Peking University, People’s Republic of China during the Annual Meeting of the New Champions in Dalian, People’s Republic of China, on 24/6/2026 from 14:00 to 14:30 in the Dalian International Conference Center – Hub 4 (Zone E), Hub. (china lobster fever). ©2026 World Economic Forum
Yang noted that China’s ability to achieve large-scale AI adoption is the result of several reinforcing advantages.
“First, the country has a vast number of developers who are actively exploring and building AI applications. Second, both individuals and businesses have demonstrated a remarkable openness for exploring and testing new technologies. More fundamentally, the strong aspiration across society for development and progress has become a powerful intrinsic driver of AI innovation.”
“At Tuya, we are dedicated to bringing AI into various real-world industry scenarios,” Yang added. “In the smart home sector, we lower the barriers to building AI-native products through standardized AI modules and an active developer community. In the energy sector, our AI solutions span the entire energy lifecycle—from generation and transmission to storage and consumption. By integrating real-time and dynamic electricity pricing data from more than 800 utility companies across Europe, our platform can intelligently optimize energy loads and help users efficiently reduce overall energy costs.”
Commenting on the commercialization of AI, Yang noted that the industry is shifting “from traditional usage-based pricing models toward an outcome-driven value-based pricing model.” He added, “For enterprises, the winners of the AI era will be those that not only adopt AI technologies early but also build AI-native organizations and talent.”
China’s Lobster Fever session with Alex Yang Yi, Co-founder, Chief Operation Officer and Chief Financial Officer, Tuya, People’s Republic of China; Cathy Li, Head, Centre for AI Excellence; Member of the Executive Committee, World Economic Forum; Zhang Ying, Professor of Marketing and Behavioural Science, Guanghua School of Management, Peking University, People’s Republic of China during the Annual Meeting of the New Champions in Dalian, People’s Republic of China, on 24/6/2026 from 14:00 to 14:30 in the Dalian International Conference Center – Hub 4 (Zone E), Hub. (china lobster fever). ©2026 World Economic Forum
Advancing Global AI Applications Through an Open Developer Ecosystem
During Summer Davos, Yang also gave interviews to major global media outlets including CNBC, Bloomberg, and CGTN, sharing his views on the commercialization of AI applications, developer ecosystem development, and the large-scale deployment of AI hardware.
He emphasized that in an era of rapid technological change and accelerating industrial transformation, open innovation is essential to sustaining long-term competitiveness. Looking ahead, Tuya will continue to deepen its focus on AI Home, AI Energy, and AI Robot applications, working with global developers and ecosystem partners to advance AI from technological breakthroughs to large-scale deployment.
About Tuya Smart
Tuya Inc. (NYSE: TUYA; HKEX: 2391) is a leading global AI cloud platform service provider dedicated to bringing AI into everyday life. Through its TuyaOpen open-source development framework and universal AI Agent engines, including the AI Agent development platform, Tuya integrates multimodal AI capabilities to lower barriers for AI development, efficiently advancing the realization of AI-driven lifestyles and accelerating AI integration with the physical world. Tuya offers innovative physical AI solutions for smart devices, commercial applications, and industry developers through its cloud computing and spatial intelligence capabilities. It also provides a complete, open, and neutral global AIoT ecosystem.
As of Mar 31, 2026, the Tuya AI Developer Platform had over 1,970,000 registered AI developers from more than 200 countries and regions.
