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Title : standard furniture union square
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good morning ladies and gentlemenwelcome to this co-chairs press conference for the 46th annual meetingof the world economic forum which is taking place under the theme ofmastering the fourth industrial revolution welcome to all of you welcometo to everyone watching on lifetime cost i'm very pleased to be joined by ourcoaches at this annual meeting just introduced them a mirror yeah we albusall in tunisia we have mister hiroaki nakanishi who's chairman and chiefexecutive officer of his heart she from japan we have maryborough chiefexecutive officer of general motors united states we have such a nutellachief executive officer of microsoft
corporation will serve in the usa andswitzerland too young team chief executive officer of credit suisse andfinally but by no means least share imbera whose general secretary of theinternational trade union conference based in brussels so i'm gonna ask eachof our coaches to share their thoughts on this annual meeting and its theme ofmy stream of thoughts industrialization just to share some of their hopes andexpectations of the coming days and then start with your mirror everyone afterthe six co-chairs here i think i'm the only one who live the revolution withthe technology just five years ago with the tunisian revolution and while
this fourth industrial revolution talksa lot about artificial intelligence roberts and robust taken over i in mycountry in the region that i represent the middle east and maybe africa also weare more worried about how humans are hurting other humans than robots so somany my my bad we're having we're having a word is going to maybe ten billions ina few years we are in technology area and we are substituting humans more andmore with technology where fearing that and we're feeling more the most is howwill these robots become may be smarter and i think the most cases may beconscious more countries are more emotional than we are and what i thinkabout it is finally humans are no longer
in this model paul of planet earth weare in a free market and we're having competition competition is with thingsthat might be better than we are and this is why this fourth revolutionshould be the one with thinking about this sport evolution we should maybestart thinking about how are we as humans what are our values why are we better than the other thatwere fearing why should we be the race that is the most important one in thisplanet we are the 1 destroying planets where the one killing humans we are theone messing up with this with this work so what should we do this fourthrevolution could maybe be the revolution
of values the second thing about this iswe are gender balance it co-chair group and a 10% of this forum are women18 is nothing i come from a country supposed to be very anti woman and weare more than thirty-three percent women in parliaments and we have parity inevery election but more than that i was asked what is the percentage of peoplewho are under 30 and that percentage way less than 18 percent so every revolutionhas been driven by youth and this will this one will be also driven by becomingone will be too because unfortunately let's say order of progress that theyhate change while revolutions that about
change so here my thought to you is this quote whichsays it's not by improving the candle that recreated electricity and it's liketo create crude electricity thank you thank you very much it's a great lineolder people living progress and hating change he said if i can ask you for youropening thoughts head of this meeting forcing does religion is very importantsubject to this forum and digital technology but now they are people tendto think that that is a technology change of the industrial forms today andthrough the other horrors we'd like to point out that such a divisivetechnology will change so many aspects
of the society that's a very importantpoint because of the aircraft that business side business environment ischanging country and also that we may have thebig opportunity to the soul of the various and social issues through theexisting technology key point for the future of our current social issues isnot simple single issue with integrated and combined is more complicated way sothat we set up the various articles embarrassment for solving those kind ofthe complicated issues of the society japanese government recently decidedthat the wii japan's try to the promotion of the society by points outthe first generation is handing
agriculture industrial revolutionsinformation next is a really super smart societythat is our society pipeline tell how to contribute of the solving of the socialissues through the distillation thank you thank you very much mary barrett moscone center and it is apleasure to be here as this theme of this year's me makes clear we are at thestart of an industrial revolution and in the auto industry it's really beingdriven by the convergence of connectivity electrification andchanging customer needs the convergence is allowing automakers like gm's todevelop dramatically cleaner safer
smarter and more energy-efficientvehicles for customers around the world and we believe these changes are asimportant as when we transition from horses to horsepower the impact onindividuals and society in general will be tremendous as we develop cars thatdon't crash that don't care that reduce congestion that are better for theenvironment and that keeps us connected to thepeople places and activities that are most important in our lives and while weunderstand these advances are fully attainable we also know that there's nosingle company or industry or government they can achieve this on its own andgeneral motors one of our core values
his relationships and we know oursuccess depends on relationships both inside and outside of the company and weneed in value diverse thinking camp collaboration from leaders that areattending here this week to help sure we're creating this world that wedescribe for the consumer and it's important from a general motorsperspective in the global auto industry that we not only play a leading role inbringing the new technology innovation to market but that we also shape thepolicies and standards that will enable the rapid introduction and govern thisnew world of personal mobility that are definitely within our reach from atechnology perspective so over the next
few days i look forward to meeting withleaders in collaborating with experts across industries and regions of thecountry and governments to make sure that we're going to accelerate thistransformation that is going to bring so much value thank you thank you very much prosecutor mike results to your thoughtshead of this the real question of the fourth industrial revolution is is itgoing to be more digital dividend or digital divide their surplus that'sgoing to be create economic surplus the real question is is this economicsurplus going to be spread more evenly between countries between industries' aswell as people of different economic
struggle but i think about the firstphase of the sport industrial revolution a lot of it has been shaped by digitaltechnology coming from consumer internet it is shaped our lives in terms of media entertainment gaming and now thequestion is can we get beyond that to really shaping other sectors of theeconomy across the global health education in other industrial segmentsand when i look at that i see hope i see a kenyan entrepreneur who is gone andcreated using data which is the real currency of the for the industrialrevolution a credit rating for people living under $2 a day i see researchersin sweden really help detect dyslexic
students in how can i see governmentofficials in kentucky or in india using data due until we for college dropoutsand school dropouts and really use the scarce resources of the state moreefficiently this is all in my mind using the publiccloud which is a key ingredient to the for industrial revolution to createpublic good and i think it is up to us all it's going to be all the multipleconstituents who need to come together got non-government organizationsgovernment private sector of startups and established companies to tackle thischallenge of creating more digital
dividend and less digital divide and tothat end we have microsoft are very pleased to see us promote this use ofpublic cloud for public good by offering up a billion dollars over the next threeyears of credits of public cloud so that ngos research organizations and othercivic bodies can take advantage of world-class technology to createworld-class solutions and create this digital thank you very much well the world is tipping point let'snot fool ourselves that unrestrained growth is coming back economic growth isstill stagnant and you saw the imf again
downgraded its forecast now every yearwe getting used to these sinks of generated optimism and then of course hedoesn't become a reality and flew working people around the world unemployment is still at an economic hiit's unbelievable the social tragedy of almost 200 million people out of work 25 million or more greater than beforethe financial crisis in 2008 2009 and nobody here has a solution infrastructure spain was the bigger pacei'm still optimistic about that but we spending less than half of theinfrastructure dolla that was absolutely
expected around six trillion usd a yearon ninety trillion by 2050 so there's no solution jet to unemployment and in factthat's just the tip of the iceberg because the only growing sector in termsof work is the informal economy the economy of desperation where people aresaying simply struggling to survive and used to oxfam this week begin with areport one percent of the population has equipment wealth of 99% that's a fileglobal model our report the ideas to a report showed that if you get inside thesupply chains now the dominant global trade model more than 60% of productionof the top 50 camp of top of the of a fifty of the biggest companies in theworld they ninety-four percent of the
people are hidden weapons thesecompanies on employs six percent directly and ninety-four percent boostto profits but leave on poverty wages in insecure work and indeed often unsafework so then of course you saw amnesties depiction of depravity in the extractivesupply china with the abuse that is just unconscionable of child labor that's in a quality by design that's amodel of global business that in equality by design and their businessleaders here who was the big day many others who are trying to change thatmodel but there's only a few and we need many many more
last year we saw an optimistic 2050 withthe world's leaders with civil society and business banking the mean it canmeet to the sustainable development goals we saw the paris agreement 0poverty 0 comments it's possible but it's not possible on the current modelsome of you about technology and remembering our technologies always beengrafted on to traditional industries its allies had some displacement effect butwhere there's been doggin collective bargaining we've managed to upskillworkers to in fact increase in counts by bargaining what we're seeing is a modelthat smashing that dialogue and consequently to mount a frost technologycan be used to make people's lives
easier let's hope you're right sadia to reduceinequality to facilitate inclusion or dissolving technical global problems butwithout dialogue without governance it can be used against the majority ofpeople and even humanity itself we face climate conflict ended and and a deficitof a social contract can we actually establish the dialogue to use technologyto resolve these issues or will we see a world that simply more of the same waygrade outstrips the opportunities that you've heard from the panel today that'sthe question for doubles dialogue and planning 40 powerband 0 poverty andincludes the future or more of the sign
and increased trade and in a qualityshow thank you to jump yes thank you good morning to 2008 liketo start by saying that it's a great honor to be here co-chair to be on responding to tell youtold me my co-chairs of a mirror me to point but we are gender balance betweenaddress diverse by gender with a verse by continental region geography sizeheight and you can you can tell from the diversity of comments made what is fromyour heart of divorce which is read to bring people from different backgroundsand different perspectives together every stage in my life i have to sayoften older than a look so i was your
first time in 1996 served endeavor soonbrussels level we've bad without badge on your marching at the center edits intertwined in my personal lifebecause in 1999 was a minister enough we're gonna go to litter december 15saying that is the nature of the cabinet of ministers of the twentieth centuryand was one of the twelve so frankly reserves are excited just ten days laterhe was a military coup so i had to go to very humbling to conduct the forum andsay look i don't think i can make it in january even military let me maybe idon't think so anyway there was has been very elect him here in my thirties foryou but i've always enjoyed it i have
never met most of the nobel prices ofmetals in doubles i don't usually run into them it's sounique place to meet people with a phenomenal intellect and it's reallyreally humbling and in the same time it's liberating i finish i was going tomake towards your dialogue and technology and i really think but at theheart of the two things i really care very much about when his bday nope justtalk and talk and listen to each other the agency that you have two ears andone mouth when you should use them in proportion like that i like but even so the soonerand talk and from but there is always a
better world but emerging so irecognized the recent technology but i'm optimistic thing but it has thepotential to transform nice for better from the performers in west africa whoused to be taken advantage of by doubtful intermediaries who cannot gonnacell phone and check local price in the market and and maximize been completedfamily and take care of their children to medical science and analyzing andhaving a chance to beat cancer i think that the oxide he's he's he's in phillyprovided but we continue to talk to him so i fully subscribed to her it's easyto to ridicule but who committed to improving the state of the world
sorry that's why i'm here and enjoydiverse and hopefully for many more years thanks to our coaches have donesome questions before we release them into the agenda of the meeting if youcan just raised a hand for me and if you can identify yourself your organizationif you have any specific questions individually based around something willhave opportunities offline for individual messages from each of thecoaches but if we can keep our questions to the broad theme of the meeting willbe fantastic gentleman at the front and can we get amicrophone things and then the gentleman behind
closer question on the question of jobsand how they how they'd force industrial revolution shots for the financialindustry credit suisse may be cutting jobs won'tsee how do you feel that the employment situation will be shaped by theindustrial revolution for your company and you just ignored my comment abouttrying to keep them to the whole panel but the question behind i think youbrought about jobs is one that each of the analyst can probably address just athe chairman david sirota international business times this is directed to the whole panel butit also focuses on jim has been
criticized in recent weeks for producingautomobiles in the developing world that don't have any american safety standardsair bags and the like i'm curious ygm doesn't produce all cars at a certainsafety standard but as part of the fourth industrial revolution the realquestion is also should those standards be globalized or not those safetystandards and that would go for microsoft and privacy standards ineverything that people on the panel were ok said she questions really on jobs andjoe mabel start with you the threat that the input industrialization places onthe job market something also that sherrod rest and then perhaps globalizedstandards if we can still save and
obviously in for microsoft to globalizestandards and the internet is something that's very concerning rule about sergiofranco dragone you're right to raise the question but it's one of the challengesof running a business but you have to book you have to boot could cost to be efficient andcompetitive in your to invest for the future a balance between bush too so there iseffectively and we've been very transparent auto plant in switzerlandwe've announced army jobs we think net will decrease but for short-term issuelong-term medium-term long-term my job
is to build a growing organization butyou know we have asked research was to growth strategy and it was foundambitious for bank to want to grow but i really believe as a ceo in charge of anorganization but organization to adult group is like human organism acrosseastern indian bday if you want to be positive in the company may use you asalways but everybody gets promoted over europe even if you don't change rose ifi make a company bigger and bigger drop in but create a positive dynamic in goodcompany but you know various legacy of inheriting a challenging situation youso bad we raised and i don't want to speak to what he sees but we had to raceexperience of capital there's a lot of
work to do to create a clean foundationsto grow and indian to add more jobs in switzerland not to reduce the number ofjobs share maybe you can pick up on thatpoint on the jobs you mentioned unemployment this replace the vastmajority of jobs being lost now are actually because of the collapse ofeconomic demand and continuing economic crisis there'sno doubt that we will see jobs displaced by technology but we have since you knowdecades past the real question is if in fact they resist work globally will welook again at what work is if we're investing in infrastructure that createsjobs if we're investing in the care
economy which is actually the biggestmultiplier of jobs often infrastructure they need fact we will actually beinvesting in each other and redefining off work is so the real question is willthe wealthy shared so people feel secure can make decisions about their own workof work family lives and will we actually see vulnerable communities morecohesive so the conflict that a mere talked about is actually reduced becausepeople feel like they have a future though a fear is not that technologywill simply displaced job self- ira's technology will be used by the few whoalready have the wealth to simply create enclaves of greater well and furthermarginalization and conflict and on the
question of technology generally notjust globalized standards can i say that's absolutely critical we've got to have a new intellectualproperty model because if we don't share technology across the world we're givingjump technology again in whether it's in fossil fuels or whether it's inmanufacturing processes to the developing world that actually takesthem behind the eight ball so should people be rewarded for intellectualproperty saw but can we think of new ways pools of technology how can we actuallymake sure that the tests of the world
and simply doing this for their ownadvantage but it becomes a platform which is a huge digital platform butalso with grafted technologies from other areas that the world can benefitfrom by governance by dialogue by decision and just briefly to bring insincere and mary on global standards that question behind the question fromdavid is whose standards would be the global i standards such as you can i think that the there's no questionthat globalized standards in fact are very beneficial for someone who's amultinational company like us participating are globally if anythingin fact i would say that the lack of
globalized standards in fact createsmore friction in security privacy or compliance and so we welcome thatdialogue between governments between the regulators so that there are more globalstandards that are uniformly enforced so that we can comply with it and even inthe vacuum what we have done for example when it comes to privacy and security isset a set of principles that we operate by around controlled user transparencyto the user as well as making sure that our operations that we do a sicksecuring the data of our users are those principles of what we stand by and wewelcome our global standards we do not want fragmentation because fragmentationactually hurts the global trade and
global economy and global growth buthaving common standards is only going to be beneficial for everyone every countryand even cup companies like us just typically from the auto industryperspective global safety standards are hugely important from a customerperspective because if you look at the cost of technology we have technologyright now as it relates to the environment to improve environment toimprove dramatically improve safety congestion etc and right now theindustry faces country-by-country differences that required differenttechnical solutions different validation solutions if we can blow by secondsafter all a person is a person it allows
the cost of implementing that toptechnology to come down allowing it to be made available to you know morepeople across the book so there's a huge benefit from globalizing safetystandards and keep some pretty foolish to more questions ladies and gentlemen back sorry mistermobile again because we need to be around from ctv news now here we haveall seen those of the state companies how do we balance the needs of thecapital market that is to pay shareholders dividends and to be privateroom with a drive to reduce inequality good question and general journal backand try and cody w germany i know that
the future topics discussed in thosenormally great but also know that the forum used it chooses its main topic tobe in line with the times so my question is is it hard to focus onthe 4th industrial revolution when you have things happening like the refugeecrisis in stable regions huge numbers of unemployment in all betsstrains so let me just call and amira thursday maybe tackle that one is is wemissing the forum the point by focusing on the 4th industrial revolution andframing meeting around then or the dimensions of that revolution impact onsome of those things the good language with themes you dowhatever you want with it whether you
want to talk about rob us of migrationwhatever you want this is davis you're on the panel you talk about whatever youwant so i for example here now during this discussion we're talking about theglobalized sanders so of course we can look at it from a private sectorperspective but we can look at it also from a humanitarian or government thatperspective how can these governments regulate such assets should regulate theprivate sectors where there is no globalized standards about in humanrights for example in the world i take for example of the big countries like anarmy i'm just naming france or others who will talk about democracy in theircountries and will share corruption with
ali bongo or other dictatorships so it'sabout globalized lenders how can we talk about equality and germany and at thesame time maybe now thinking about closing borders 41 million because wehave too much migrants they are humans what are the global standards what we'redealing with human so lemme fourth and this revolution doesn't only mean a tech discussion and maybe it canit can mean that discussion we are today having we are having today the firstgeneration of navy native technology babies they are born with an iphone intheir hands this is new this is not our case we are a non native technologypeople in this is why maybe were fearing
that much technology so i think we whywe're also talking about tec technology this is something very important andvery poor places like set aside in tunisia for example technology helpsmany people and especially telephone phones and internet have so many peopleto get access to a market that they would have never dreamed off becausethere is no real life access to this there is notransportation accident this is the case in many countries in africa so i totallyunderstand your question and i think refugees will be at the heart ofdiscussions here because this is an important test for humanity and whilewe're talking about humanity we are in
the middle of this the world is facinghumanity by handling refugees crisis where the constraints we haven't i wasgonna bring in she said and just two years ago promisedto abandon his commitment to 30% of women in leadership roles by 2020 andjust the gentleman's question how do you square for its latency to question howdo you square delivering shareholder value with meeting the requirements totackle inequality tend to think that you know the how tomaking a balance the close growth and increasing of the total that surpassedyou know that the concern of this year has to work for that that's only mypersonal and so the from the viewpoint
of how to the rabies in the variousactivities in this society those who that this beneficial to society we haveto find that bad at first thank you and to john because due to your children depends if you want to talk about thiscauses or symptoms i mean it was human tragedy migrations absolutely horriblebut those are symptoms of much deeper problems which are wrong democracy giveeurope screen is born from demography and lack of jobs and technology isreally the way the reason why would what we do is relevant is a big part of itand so it's a huge tool to empower people people who make great upheavalmean make powerless who want to claim
that power back by voting with theirfeet so in the end you know and i can give you a lot of examples of what wedid in africa was very involved in the development of mobile telephony where tofind the world bank and it's not a good way to cover band delegation to avillage in vehicles because there isn'ta to dig wells and build roads and i saidwhy don't you ask if you don't see flooding water and use 1995 resolved asshe felt forever grateful to him he said look sir what i want is a telephone asaid you my son he's a doctor original copy to the telephone industrytold you i can get everything like water because i just tell me so much i wannabring it to me so it's an image but with
the empowering dimension of technologyfor people who are you know unfavorable situation cannot be overestimated in 30seconds answer the question about shareholder value it's a false dichotomywe have thirty trillion dollars of workers capital invested in the globaleconomy we want to say company's transition just transition whether it'sa climate or whether it's through an equality and just a few cents on anyproduct would actually deliver a minimum what living wage to all of thoseninety-four percent of workers so that's not that's not a question about whetherit's possible it's a question of corporate will and just to give you onefigure in 25 companies we profile the
cash reserves and even the profit whichis what shareholders look to the cash reserves would deliver a $5,000 in oneyear in additional wages to seventy million people can you imagine what thatwould do not just for the lives of workers in the philippines and cambodiavietnam war the soldier but what it would do for demand so business has tostop thinking like that and with shareholders and with consumers starttalking about how we balance the load tooele coaches big thank you i knowyou've got things to go on to you i'm sure you mother cash in on their routeto the next thing thank you for joining us for this opening press conference thethought of a successful meeting