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<ul class="summary-list"><li><keyword id="12518572" type="UNKNOWN" weightage="60" keywordseo="dong-mingzhu" source="Orion">Dong Mingzhu</keyword>, known as <keyword id="11892748" type="UNKNOWN" weightage="60" keywordseo="china" source="Orion">China</keyword>'s "iron lady," said she's training an intern to become just like her.</li><li>Chinese social media has been buzzing about the 22-year-old, who Dong promoted to secretary recently.</li></ul>As Chinese business magnate Dong Mingzhu addressed journalists and investors at a corporate gathering, a young lady in a dark grey jacket stood silently by her on stage."I hope she can stay by my side," said Dong, beaming as she extended her arm toward her companion. "I want to nurture her to become the second Dong Mingzhu."The crowd laughed and applauded, but Dong's comment was no joke. Soon after she spoke, the renowned businesswoman gave the floor to the recent graduate beside her, who introduced herself as a "student" of Dong's <a href="https://www.bilibili.com/s/video/BV1K3411y7tw">and later performed a solo dance routine.</a>Local reporters and people online pounced on what Dong said, and discussion of the young lady by Dong's side became the <a href="https://s.weibo.com/weibo?q=%23%E8%91%A3%E6%98%8E%E7%8F%A022%E5%B2%81%E7%A7%98%E4%B9%A6%E8%B5%B0%E7%BA%A2%23&amp;Refer=top=top">second-top trending topic on social media</a> platform Weibo on Friday, with two million mentions.Analyzing past remarks from the business figure, social media users came to the consesus that Dong, the chairwoman of a Fortune 500 company, had announced her successor - the dancing 22-year-old intern Meng Yutong.Neither Dong nor <keyword id="12518571" type="UNKNOWN" weightage="60" keywordseo="gree-electric" source="Orion">Gree Electric</keyword>, the company of which Dong is chairman and president, have confirmed that Meng will indeed become her successor. Gree Electric did not immediately reply to Insider's request for comment.<h2>Dong Mingzhu, China's 'iron lady'</h2><div type="image" title="Dong Mingzhu Gree Electric" height="2720" width="4080" msid="87664638" hostid="261"></div>The media frenzy is driven largely by Dong's reputation, status, and most of all, her attitude toward succession.The chairman and president of <a href="https://www.forbes.com/companies/gree-electric-appliances/?sh=72180822764f">Gree Electric</a>, an electric appliance manufacturer and one of the world's largest air-conditioner makers, Dong climbed her way through the company ranks after joining as a salesperson in 1990 while widowed with a three-year-old son, <a href="https://www.scmp.com/magazines/style/news-trends/article/3042278/meet-iron-lady-dong-mingzhu-chinese-businesswoman">per The South China Morning Post.</a>She's known as China's "iron lady," with a famous hardline approach to business and an uncompromising work ethic."When she chews you up, she doesn't even spit out the bones," said one male competitor of Dong, <a href="https://www.nytimes.com/2011/01/27/world/asia/27iht-dong27.html">according to The New York Times.</a> Dong has said <a href="https://finance.ifeng.com/a/20160314/14268283_0.shtml">she never once took a day of annual leave</a> in her entire career with Gree, adding that she has no friends "because I cannot have friends."In 2017, she was named <a href="https://www.forbes.com/sites/russellflannery/2017/02/06/2017-forbes-china-100-outstanding-businesswomen-list-full-list/?sh=6c579a8d7071">China's top businesswoman by Forbes</a>, and she's regularly ranked among the top five female figures in Asia's business world. Under her, the Guangdong-based Gree Electric operates in over 160 overseas markets and has more than 90,000 employees, <a href="https://global.gree.com/">per its website</a>. According to <a href="https://www.forbes.com/companies/gree-electric-appliances/?sh=2a6de6942764">Forbes</a>, it has a market capitalization of $55.3 billion as of May.Now 67 years old, Dong has entertained rumors that she's planning her retirement. And she's been clear about how she intends to choose who will replace her: Dong said she would select a successor based purely on their merit, and would never pick a person because of familial relations or friendship, according to local <keyword id="11893589" type="UNKNOWN" weightage="100" keywordseo="news" source="Orion">news</keyword> outlet <a href="https://www.sohu.com/a/500628925_115362">Daily Economic News.</a>She's also been vocal about giving young people a chance to lead. "Today's young people should strive for recognition in their careers. Dreams are made real in China," Dong once said, per state-controlled Daily Economic News.<h2>Meng Yutong, the intern in the spotlight</h2><div type="image" title="Meng Yutong and Dong Mingzhu" height="854" width="1262" msid="87664640" hostid="261"></div>That's where Meng comes into the picture. A graduate from Zhejiang University who majored in Spanish, she met Dong on a reality TV show called <a href="https://baike.baidu.com/item/%E5%88%9D%E5%85%A5%E8%81%8C%E5%9C%BA%E7%9A%84%E6%88%91%E4%BB%AC/56627932">"We who are new to the workplace,"</a> where office newbies get a chance to interact closely with famed bosses.Meng was one of the contestants and impressed Dong, one of the two bosses featured on the show, according to <a href="https://zx.sina.cn/sh/2021-11-12/zx-iktzqtyu6812722.d.html">local outlet Jinan Times.</a> <a href="https://weibo.com/1231668867/L17YswcUz?refer_flag=1001030103_">Videos of the pair holding hands</a> and <a href="http://luxury.zdface.com/show-18727.html">selfies</a> of them together have emerged online as well.Dong hired Meng as an intern for three months, and confirmed during the recent corporate event that Meng was promoted to be her secretary.Since then, Meng has responded to the media attention by posting a video on <a href="https://weibo.com/2567137243/L107M7JNB?refer_flag=1001030103_">Weibo that's received 90,000 likes.</a> In the video, she calls herself the "girl selected by Dong Mingzhu" and said she'd been with the company for two months before being promoted."The video of that event with my boss received a lot of attention from everyone. Thank you very much for your continued support and encouragement to boss Dong and Gree Electric," said Meng."I think there are a lot of people who are better than me, more diligent than me, and more talented than me. I'm just lucky to have such a good opportunity, a good boss, and a good platform," she added.Meng said she felt overwhelmed by the responsibility and pressure of being selected, and constantly maintained that she's an "ordinary girl." Meng did not immediately respond to Insider's request for comment.People on social media have thrown in their support for Meng. "She's not going to be the second Dong Mingzhu, she's going to be the first Meng Yutong," said one user in the comments."She's 22 and is Dong Mingzhu's secretary. I'm 22 and still playing and losing at video games. This sucks," wrote another.

One of the top businesswomen in China, who's called China's 'iron lady' and says she's never taken a day of vacation, hinted at making a 22-year-old intern her successor

<ul class="summary-list"><li>The edge computing industry is expected to be worth more than $3 billion dollars in the next five years. </li><li>In January Apple acquired one firm, Xnor.ai, for a reported $200 million, while competitor Kneron raised $73 million in funding from backers like Alibaba and Qualcomm. </li><li>Edge computing allows data to be processed 'on-device', removing the dependency on cloud networks - and limiting the risk of user data being hacked. </li><li>Early Xnor.ai backer Autotech Ventures told Business Insider he is so 'optimistic' about the industry's future, his firm has already invested in another edge startup. </li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul>By 2025, the edge computing industry is expected to be worth $3.24 billion. In January <a href="https://www.businessinsider.com/apple-reportedly-buys-xnor-ai-200-million-2020-1?r=US&amp;IR=T">Apple acquired Xnor.ai</a>, an edge AI startup, for a rumored $200 million. A few weeks later, another edge AI firm called <a href="https://www.businessinsider.com/alibaba-sequoia-capital-kneron-ai-tricked-airport-facial-recognition-2020-1?r=US&amp;IR=T">Kneron raised $73 million</a> in a fundraising round backed by commerce giant Alibaba and top-tier Silicon Valley investor Sequoia Capital.So what's all the hype about? Edge computing allows data to be stored and processed closer to home, as opposed to going via the cloud. The increasing number of "Internet of Things" devices - everything from smartphones to <a href="https://markets.businessinsider.com/news/stocks/the-global-smart-diapers-market-is-expected-to-grow-at-a-cagr-of-more-than-29-during-the-period-2018-2024-1028491613">smart diapers</a> - means bandwidth requirements are being pushed to their limits. By transferring these processes to the "edge", these devices can perform their primary computing functions without being dependent on a WiFi or cloud network. This could be applied to complex filters on your favorite photo-editing app or facial recognition capabilities in a smart camera. For example, smart camera company Wyze partnered with Xnor.ai so that <a href="https://www.androidpolice.com/2019/07/09/wyze-person-detection-xnor-ai/">its cameras could detect people</a>, without relying on the cloud.In an age rife with fears over privacy and how big businesses make use of consumer data, limiting the use of cloud networks also means' personal data doesn't travel so far, and is therefore less vulnerable to hacking. Albert Liu, founder and CEO of Kneron, told Business Insider the company hopes to "democratize" computing power. Among his firm's biggest clients are Gree Electric, the largest manufacturer of air-conditioners in the world, and Sogou, one of the best-known online search engines in China. "Cloud-based AI definitely has its purpose," said Liu. "But we want to disperse the power of inferencing among each individual device. You as a customer may not want your devices to be forced to access a cloud network every time you use it." Xnor.ai, Apple's most recent buy, was spun out of A12, a research institute set up by the late Microsoft cofounder Paul Allen in 2014.Asked what Apple's acquisition meant for the industry, the firm told Business Insider edge tech has "unique advantages" in the realm of privacy, "especially in a time when user data concerns are more in the spotlight". "[It's] a clear signal that edge technology is a high-potential area of new investment for companies working on consumer electronics and other interactive technologies," a spokesman said."A smartphone, tablet, or home assistant device equipped with the tech Xnor.ai is building will provide a big leap forward for the markets in which Apple is the most competitive." It added: "We expect to see a big impact from edge AI applications in the rapidly-expanding world of IoT devices. We'll see it in areas where privacy and the protection of user data are paramount, such as in medicine or law enforcement." Autotech Ventures is a venture capital firm specializing in tech for vehicles - and an early backer of firms like Tesla and Lyft - which invested in Xnor.ai long before it was bought up by Apple.Managing director Alexei Andreev told Business Insider he feels "very optimistic" about the future of edge computing. So optimistic, in fact, that he has just signed off an investment in another edge startup. He laughs: "I'm afraid I can't tell you who it is yet." <a href="https://www.businessinsider.com/intelligence/bi-intelligence-daily?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=apple&amp;itm_campaign=bi-intelligence-daily"></a>

Apple's reported $200 million acquisition of Xnor.ai is part of the bigger red-hot trend of edge computing

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One of the top businesswomen in China, who's called China's 'iron lady' and says she's never taken a day of vacation, hinted at making a 22-year-old intern her successor

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Apple's reported $200 million acquisition of Xnor.ai is part of the bigger red-hot trend of edge computing

Martin Coulter

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