China”s fast-growing digital economy and creative user base are reinforcing the confidence of global firms, and online graphic design firm Canva is intensifying its latest artificial intelligence-powered innovations in the market, a senior executive of the Sydney-based company said.

At this year’s China International Fair for Trade in Services in Beijing, Canva teamed up with Australian tech firm Sencity to set up an interactive AI-powered photo and design experience zone, attracting visitors to see firsthand how AI can simplify design processes and boost creative efficiency.

“The country has a rapidly growing digital user base with a strong passion for self-expression and creation, while placing great emphasis on user experience,” said Wang Kexin, general manager of Canva China.

Since its entry into China in 2018, the company has witnessed fast adoption backed by the market’s huge user base, she added. “The Chinese market is full of vitality and creativity, and it has always been one of the markets we value most.”

Chinese users have generated more than 600 million designs so far, with 10 new works created every second on its platform.

“Our operational experience in China may offer many insights for our headquarters in Australia due to its enormous user base and application scenarios. When the headquarters designs new products, a significant part takes into account experiences from the Chinese market,” Wang said.

On the corporate side, the executive said that the company has observed demand rising strongly from sectors such as smart manufacturing, retail, technology, education and hospitality.

“Over the past four years, Canva’s enterprise customer base in China has expanded by 800 percent. China is one of Canva’s most important markets. We aim to combine leading AI technologies with the real needs of Chinese users to make our models more attuned to the Chinese language and cultural context,” she added.

The company plans to further invest in the local market, mainly in three areas — optimizing AI experiences in Chinese, expanding localized content and templates and strengthening its open community ecosystem that connects creators, developers and enterprises, Wang noted.

The Forrester Research report, The Future of Digital Experiences in Banking, reveals how artificial intelligence (AI), the Internet of Things (IoT), and edge computing are poised to revolutionise digital banking over the next decade.

The analyst posits that as financial institutions transition these from merely assistive technologies to anticipatory and ultimately agentic experiences, trust and transparency will be paramount in fostering consumer adoption.

The findings reveal that key innovations are reshaping the banking landscape. AI-powered virtual assistants are set to enhance customer interactions, delivering multimodal, intuitive, and emotionally aware banking experiences.

Financial institutions will harness the power of AI to offer tailored insights, while IoT-driven intelligence will enable embedded finance, providing real-time financial recommendations based on predictive insights.

Furthermore, the advent of 5G and 6G technologies will facilitate instantaneous analytics through edge computing, optimising efficiency and scalability for banking services.

Zhi-Ying Barry, principal analyst at Forrester, emphasises the delicate balance banks must maintain while leveraging these advanced technologies.

“Banks in Singapore and Australia that are looking to leverage AI and experiment with agentic AI are treading very carefully,” she notes. “There could be higher-risk scenarios where errors could have significant negative consequences, such as financial losses and reputational damage.”

Barry highlights the proactive measures being taken by regulatory bodies, such as the Monetary Authority of Singapore (MAS) and the Australian government, which have introduced ethical guidelines to steer firms in the responsible design and implementation of AI.

As an example, Barry cites DBS Bank’s initiative to align its AI strategies with the FEAT principles, further complemented by its own PURE framework.

“It’s not uncommon to see banks establish AI task forces or steering committees to assess AI’s potential while ensuring human oversight.” Zhi-Ying Barry

The decision of consumers regarding which banks to trust will largely hinge on their confidence in AI technologies, the specific use cases presented, and their perceived risks.

Conversational banking is also highlighted as a vital evolution.

“Advancements in AI are set to further transform consumer interactions within financial services. The future of digital banking will be defined by modern, intuitive, and human-centred interfaces,” states Aurélie L’Hostis, another principal analyst at Forrester.

She elaborates on how AI-powered virtual assistants will enhance organisations’ understanding of consumer intent and emotions, allowing for more personalised and engaging interactions.

As the banking industry stands on the cusp of this digital transformation, the role of ethical governance and consumer trust will be crucial in navigating the future landscape.

In a bold escalation of the global artificial-intelligence arms race, major U.S. technology companies are committing tens of billions of dollars to bolster AI infrastructure in the United Kingdom, coinciding with President Donald Trump’s state visit this week. Microsoft Corp. has announced a staggering $30 billion investment over the next few years, aimed at expanding data centers, supercomputing capabilities, and AI operations across the U.K., marking what the company describes as its largest-ever commitment to the region.

This influx of capital underscores a strategic pivot by tech giants to secure a foothold in Europe’s AI ecosystem, where regulatory environments and talent pools offer unique advantages. Nvidia Corp., a leader in AI chip technology, is also part of this wave, with plans to contribute significantly to the overall tally exceeding $40 billion, as reported by CNBC. The investments are expected to fund everything from advanced hardware to research initiatives, potentially transforming the U.K. into a premier hub for AI innovation.

The Strategic Timing Amid Geopolitical Shifts

Google’s parent company, Alphabet Inc., has pledged £5 billion ($6.8 billion) specifically for AI data centers and scientific research in the U.K. over the next two years, a move that could create thousands of jobs and add hundreds of billions to the economy by 2030. This comes alongside Microsoft’s push to build the country’s largest supercomputer, highlighting how these firms are not just investing capital but also exporting cutting-edge technology to address global AI demands.

Industry analysts note that the timing aligns with Trump’s visit, which is anticipated to foster stronger U.S.-U.K. tech ties post-Brexit. According to details from Tech.eu, Google’s commitment includes expanding facilities like the Waltham Cross data center, while Nvidia’s involvement focuses on chip manufacturing and AI model training, potentially accelerating developments in sectors from healthcare to finance.

Economic Impacts and Job Creation Projections

These announcements build on a broader trend where tech megacaps have already poured over $300 billion into AI globally this year alone, as outlined in a February report from CNBC. In the U.K., the combined investments are projected to generate more than 8,000 jobs annually, with Alphabet’s portion alone expected to add 500 roles in engineering and research, per insights from Tech Startups.

Beyond immediate employment boosts, the funds aim to enhance the U.K.’s sovereign AI capabilities, including a £500 million allocation for initiatives like SovereignAI, as highlighted in posts on X from industry figures. This could position the U.K. to compete with AI powerhouses like the U.S. and China, though challenges remain in talent retention amid a global war for AI experts, where top hires command multimillion-dollar packages.

Challenges in the Talent and Infrastructure Race

The talent crunch is acute; tech companies are battling for scarce expertise, with compensation packages soaring into the millions, according to a recent analysis by CNBC. In the U.K., investments like Microsoft’s $30 billion pledge, detailed in GeekWire, include training programs to upskill local workers, but insiders warn that brain drain to Silicon Valley could undermine long-term gains.

Moreover, the scale of these commitments dwarfs previous government efforts; for instance, the U.K.’s own £2 billion AI action plan pales in comparison, as noted in earlier X discussions on funding disparities. Yet, with private sector muscle from firms like Microsoft and Nvidia, the U.K. could leapfrog in AI infrastructure, provided regulatory hurdles don’t stifle progress.

Future Implications for Global AI Dominance

As these investments unfold, they signal a deeper integration of AI into critical sectors, potentially adding £400 billion to the U.K. economy by decade’s end. Reports from The Guardian emphasize that tech giants have already outspent governments on AI this year, raising questions about public-private power dynamics.

For industry insiders, this U.K. push represents a microcosm of the broader AI gold rush, where speed and scale determine winners. While risks like energy demands and ethical concerns loom, the momentum from these billions could redefine technological sovereignty in the post-pandemic era.