Davos 2019 - Business Leadership in the Fourth Industrial Revolution | Summary and Q&A

TL;DR

Business leaders discuss the importance of addressing societal concerns and navigating technological and political changes for the benefit of all stakeholders.

Key Insights

• 🪡 Technology is a baseline for winning in the fourth Industrial Revolution, and business leaders need to create intelligent and experience-driven enterprises.
• 💪 Trust, transparency, and ethical behavior are crucial for building successful businesses and maintaining strong relationships with stakeholders.
• 🎓 Education and inclusivity are essential for addressing skills shortages and creating opportunities for all members of society.
• 🆘 Regulating data privacy, ensuring explainability in AI, and promoting liability for illegal activities can help address the misuse of technology.

Transcript

to the financial times and we've got a terrific lineup for you today to talk about corporate leadership let me first introduce your panelists I think you probably are very familiar with many of them I just also need to have to mention that we will open it up for questions about 20 minutes before the end so do prepare them and when you do ask a ques... Read More

Questions & Answers

Q: How can business leaders best serve the interests of all stakeholders while navigating changing technological and political landscapes?

Business leaders need to focus on societal change, addressing the trust crisis and skills gap. They should partner with the public sector, communicate authentically, and create meaningful experiences for consumers.

Q: How can business leaders address the issue of skills shortages and promote inclusivity in the workforce?

Business leaders can explore new models of education and training, such as apprenticeships and alternative pathways to valuable careers. They can also prioritize hiring for skills rather than degrees and promote a diverse and inclusive workforce.

Q: What role does trust play in the relationship between businesses and stakeholders?

Trust is crucial, as businesses need to build trust with consumers, employees, and the wider society. Transparency, authenticity, and ethical practices are key elements in establishing and maintaining trust.

Q: How can businesses navigate political risks and uncertainties, such as Brexit?

Businesses should have contingency plans in place, communicate with consumers and employees about their commitment to staying strong regardless of political outcomes, and engage in strategic partnership with governments and stakeholders to navigate uncertainties effectively.

Summary & Key Takeaways

• The panel discusses the need for business leaders to address growing concerns such as data privacy, environmental degradation, market concentration, and corruption while navigating technological and political changes.

• They explore the concept of the fourth Industrial Revolution and the need to focus on societal change and inclusivity, particularly in terms of addressing the trust crisis and skills gap.

• The panel emphasizes the importance of authentic communication, partnership with the public sector, and the creation of meaningful experiences for consumers.