 So I have a very simple topic you can see today right the future of humanity live and business You know that will take me two minutes and we'll we'll have that solved I live in Switzerland right now, and I'm originally from Germany. I spent 17 years in the US first as a music producer musician record producer a Business that was very heavily impacted by by digital of course And then later on as an internet entrepreneur So I have some firsthand experience to show to you and it's kind of hard to describe what I do There's a somebody said the other day. I think it was Another future is to say that if you have a job that cannot be described then you're safe for the future So if you think about that for a second We want to be safe for the future now yesterday when I arrived I was reminded of the battle between technology and humanity When I was at the airport looking at the strike, you know the taxi strike, right? This is really interesting to see I'm an uber user in like 50 countries Okay, I know the founder of uber from a long time ago, and I always have a split feeling about uber It's like a giant experiment and you could say that when you work for uber You work for a database You don't actually work for people. It's like your bosses in the cloud, right? It's a very strange thing, you know, it's like take some time to get used to yes a fantastic service as a user I love uber not just the price but The experiment but as a driver, you know to think about there are so many issues will uber succeed ultimately in Constructing a business or is it just good and disrupting and I would propose to you as the future of Portugal is concerned It's not enough to disrupt To disrupt is a good thing to do and that it works for a while, but you also have to construct something new And if you're in the digital economy, which we're going into at high at warp speed now Really fast speed. It's very important to find out what disruption is about But also to construct a new world out of the disruption And I think this is the challenge for Airbnb and uber and companies like this. So briefly. This is really my job Is it advancing yes, okay good so my job really is the Listening right I think this is also a way of getting yourself to be safe for the future in China They say I know there's a big part about China later coming up if you want to know about the future ask your children It's really important to understand what is coming if you have a good idea What is coming in five years the chances are you can start thinking about shaping your future. You know the future isn't fixed We make the future we design the future the future is not just waiting for us It's very important to realize and and the key trend of that of course is this change of technology as We're going from being human to being connected to technology all times, you know when we use the mobile phone When we use these devices, this is essentially our external brain, right? It's my second brain in here My phone numbers my banking my music my everything is in here. It's my second brain Imagine if this brain becomes more powerful and is already very powerful, right? This brain is going to become a million times as powerful in the next five years. It's hard to imagine You will be able to talk without typing just speak that's already happening Imagine what that will do for jobs or for entertainment for politics I Mean there isn't a single politician in the world left that is not connecting to the digital universe And sometimes people are saying for example what happened with the brexit, right? Wouldn't have happened without technology because it was possible to shape opinion Right technology is changing democracy Sometimes good sometimes bad right don't think for a minute that technology is your savior, right? It is not Technology is a tool and it's a magical tool and Because it's so magic we sometimes think that the tool is the purpose right that the tool is not the purpose The purpose is us And we should not confuse those two things when we talk about digital. We're not talking about us We are not digital There is no future without without technology. There's no doubt about that right whether you're in marketing or advertising or whatever you do Technology is is the tool that's everywhere But let's talk about this what this really means and where where this is going on ultimately This is the curve of the day, right? The exponential curve and you know about Moore's law Metcalfe's law. You know those things are pretty old Technology is doubling in power every 12 18 24 months and Now it's basically at that point to where we're no longer in the beginning of the curve We're actually at the pivot point. We're the takeoff point, especially Portugal. I Mean you can see right now high high connectivity high use of devices But some businesses I'm still not using the internet to to adopt to this right We're now at the point to where that will dramatically change in five years. You will be a hundred twenty eight That's through two times as far if you're about my age and you have kids Chances are your grandkids will never know how to drive a car without a computer They will never know how to drive a car themselves They may not know what a CD looks like They may not learn languages because they can use a machine that translates them They may fall in love with a robot Just kidding They could do that now, but So the exponential scale this is really hard to understand We're at the pivot point humanity will change more the next 20 years in the previous 300 years Jobs society what we do what we study. How can you go to university and study? What you used to study 20 years ago and be ready for our future. That's 500 times as different as today That's a crazy idea We're gonna need people that can make their own job. That is the number one criteria for your kids make your own job Entrepreneurship understanding new opportunities That's something that you know because I lived in America. Everybody is a startup in America, right? When you go to a party in America, then people sit down say everybody wants to be the next eBay or Twitter, right? If I go to a party in Switzerland, everybody is from a bank Not just kidding. That's not true But you know, we're not so we're not so interested in startups, but look at the numbers, right? Look at the numbers of the Internet of Things alone right the connected Internet of Things, right? This is cars Traffic lights control systems smart cities smart farming If you want to start a new business today, just take the old business and put smart in front of it, right? Smart cars smart politics. That's impossible smart government Smart shipping smart containers smart futurists But look at this curve right what kind of growth we're seeing it This is a vast opportunity for especially countries like Portugal smaller countries that are ready to go international But it's also a giant challenge, right? Imagine if everything is I mean that's already a lot now I if everything is connected your suit your clothes and your car your doctor It's very efficient. We can save in some cases 50 60 80 percent of cost, right? But imagine what could happen if something goes wrong with all that information The responsibility the responsibility of technology is as big as it as the responsibility for nuclear power Even bigger because now we have artificial intelligence your machines that can think which allegedly which I'll talk about So now we're getting to a future to where artificial intelligence, you know investing in machines that can come up with their own thinking is exploding It's also exploding. I think here in Portugal Google has acquired like 27 companies that are in the deep learning cognitive computing and this is IBM's motto, right? Welcome to the cognitive era If you think about this for a second What used to be cognitive, right? Well, it's us, right? We were a part cognitive allegedly Some people say that problem with thinking machines is not the machines, but that people don't think That could also be true, but think about machines that can do what we do one This is an interesting angle, especially when you think about the future Everything is being connected. I live in Switzerland. So I use the cow The cows that get connected in Switzerland now We want to know where they have gone, you know, how many times they've they've complained I suppose but what they have eaten, you know, how good they are and so on but everything is getting connected I mean, I've come up in my new book. I've come up with this list of terms I know that the terms are quite confusing, but here they are As so many of them my digitization mobilization personalization And I'll give you just a few for example datafication Everything that we used to do with people is becoming data Remember used to go to the doctor and the doctor would scribble down on a pad and nobody could read it and would put it away And then next time you come back it takes out the pad That's over now. It's all your Fitbit and your diagnostic device device and the cloud, right? That that has become data fight all of a sudden the doctor is in charge of your data and And your insurance company Cognification they're getting used to things automation disintermediation But these are all trends that you can you can read about but basically a good example of all that stuff is the Recent discussion about the blockchain, right? You follow the blockchain. I'm sure Which is a distributed network of handling data and information That's a crypto currency, you know encrypted so that we can trade without central supervision allegedly It's a great book by my friend Don Tapscott about how blockchain will change banking But it's a much wider subject, but this wouldn't be possible Without all of these trends. So if you want to be somewhat future proof You look at those 10 trends and figure out what they are And you can read more with that stuff online, but it's kind of where things are going I mean the future right now is mind-boggling when you think about this that we're entering the age of quantum computing This machine is already quite powerful and in five years chances are this machine would but we're not a million times as powerful But a hundred thousand times as powerful You know how many transactions we can process as a human it's roughly 25 30 quadrillion calculations per second If I meet you outside in the hallway And I can calculate in less than one second if you're a part of my tribe my group or not You don't have to say anything It takes one second for a human to identify another human in some sort of bizarre way that we don't know how that works So it's a lot of computations, but it's not just computations that it's very hard to figure out But machines will be able to do that So these machines will be able to control the entire NATO air traffic with one device that sits on the laptop They will be able to look at the entire social security System of Europe and run all the numbers and figure out who should get what and make suggestions So that's really going to change our world in a very large way and of course also how we see the world will change Dramatically You know if you're buying one of those things right now where a holographic headset or you know virtual reality You you are a geek or tech guy Or you know or a gamer But you know every policeman every doctor every lawyer will have those devices in the future Because it turns you into a super human I mean imagine if you can wear this while you're operating you can see all the information flowing as soon as this works That's roughly two three five years away This becomes as normal as what's up? Because then the backside of course is you would not want to live without it Because of how it's kind of a interesting angle. I think socially speaking of course quite unacceptable, right? but You know this will dramatically change and the other thing is of course the way that we control computers is just about to change and That means no more typing No more apps No more web pages We speak Voice control is about two years away from mainstream control right now You can already use really great stuff like dictating on the on the iPhone works really nicely It's two years away that you can dictate in about 50 languages and also translate So I was just listening with speech of your president And I got some of it But the future is very close to where I can just get the app to listen to what he's saying and Translate to me in real time. That's two years away That already works, but it's not really perfect So imagine what that means for older users, you know if you have people around 70 or 80 And they want they want to watch internet television That's kind of difficult today. You have to put in the cable and Subscribe and the future just sit down on your couch. You say play Colombo or play house of cards where where where he kills this guy, right? He just plays That also means for shopping and e-commerce Keyword search Nobody will know what keyword search is in five years There's no such thing The machine knows who you are it knows what a friend of yours it has 25 million data points You know every single Google user if you do stuff on Google, we have roughly 25 million data points on Google and Facebook has many more. Can you imagine what kind of intelligence could be in that system? So get ready if you're in the appetizing business guys get ready for that to be completely different in five years That's a huge opportunity But it also creates of course different challenges of things that we have to do here's a mock-up of such a scenario, right? Well, I asked something really complicated of my personal digital assistant right now that kind of works that would not be possible Very shortly we're gonna have complicated demands Find a solution to unemployment in Portugal that covers people between 15 and 21 Off it goes comes back with a suggestion And having read a hundred trillion records These things are just about around the corner and they're really going to change the way that we think of the world So we're going from a world of web pages, which most of us know from the beginning, right? And then we had apps we download cool apps and we use those to navigate and Now we're going to digital assistants, which I call the global brain. It's essentially My mobile phone in the cloud and that can do all these things for me and create entirely new environments William Gibson science fiction might I once said that technology is morally neutral until we apply it Which means that if you're using this to create possibilities of e-commerce and Data and voting and all these kind of things. That's great But at the same time, of course, maybe you don't necessarily want to create the backside of it, right? You have to watch the unintended consequences So if we zoom forward in five years, we're going to live in a world that's completely digitized. There's no way back from this There's really no way unless you move to the mountains of Switzerland. Even there would be difficult We cannot exist without technology We can't compete with our technology And then we have to say well if we use all this technology and that's kind of magic How do we prevent the abuse? You know that the data mining? We don't want to live in a world where there's no secrets Secrets are very human thing. So our mistakes lies kind of lies Mystery discovery We don't want to live in the world that takes all that away so that we can have better efficiency Americans may disagree, but I Think this is a really tough discussion right because we want the benefit of technology But we don't want all these side effects right? It's like we want nuclear energy. Maybe we don't want to get killed in a crash This is an app Amazon Echo You may know Amazon Echo four and a half million people have this in the US Every single tech company is pushing these devices. It's like a mobile sitting on your on your desktop It's in the box and it listens to you the entire time And so then you say Alexa, please turn off the light in the bedroom She'll they have to connect it all I suppose but It does all these things for you and and it picks your movies and it orders things from you And it's a it's a really strange thing. So the question I have for you is this is helpful. Is it lazy? Is it addictive? It's kind of a strange thing, but that is a future that we're going towards, you know the future that is going to have machines as friends You may remember the You know, there's a first robot called pepper right that actually gets people to hug him There's the movie her have you seen the movie her you have to see that movie that kind of shows how you fall in love with your computer Not that that's anything new really, but and then we build relationships with screens You know kids actually if you ask kids today Well, mostly American angle American research on this saying that roughly 40% of kids if you ask them Who's your best friend? They say it's the mobile You think I that's kind of funny, but it's also kind of sad It's like yeah, well, it's a nice simulation, but it's probably not really a friend So I would say as you're looking at technology We should make sure that we use technology to get better, but as friends, you know as as partners Well, if you're watching stuff on YouTube about these machines That offer digital advice, you know what the first headline is for all of those companies The headline is this is not a robot. It's a friend Now I think that's rather pathetic right because it would be enough if it was a robot If it worked well, then I'm happy let it be a robot doesn't have to be a friend It doesn't have to be something different. You've seen all these things on your mobiles That is the future of computing We're not gonna go to some stupid app and take a look at if Tap is delayed again or if Tam is still flying or we can just ask System knows us seriously tempting I think for our future moving into a future. That is what I call hell then Hell and heaven Hell then is a scenario to where we have to say well if we want to use technology We wanted to be heaven for our customers as much as possible And we have to find out what that is We don't want to make life hell for our customers just because technology makes it more efficient We don't want to make it hell for employees by firing all of them If you're running a call center Chances are you can fire 95 percent of people in five years We're talking about 40 million people here walking in call centers around the world Not a big issue for Portugal. I don't think but Brazil. Yes, India China I mean call centers are the most obvious thing, right? I mean the calls You want to change your flight ticket the computer understands that sooner or later and you can natural language understanding for computers It's here Here's the example with Google's latest achievement One of my clients is Google, but I still talk bad about but they're just kidding I still critique them anyway, but here's a great thing That they just learn called the Google Assistant. It's actually kind of funny In a strange context, but I let's play the video with the sound, please Today it seems like sometimes it's easy to feel like you need a little help with the stuff just in your own world Your photos phone videos calendars messages friends trips reservations and so on and so on Wouldn't it be nice if you had some help with all that? Wouldn't it be nice if you had a Google for your world? That's why we're building the Google Assistant. Hi, Amy. How can I help? You just ask it what you need? Okay, Google. What do I have to do today and your assistant understands and helps you out? You can even carry on a conversation with it. How long will it take to get to downtown Chicago from home? Here you go. What restaurants are there? Book a table at Cortino restaurant sure and the assistant is always there for you So if you're on the road, you can ask it where to fill up And if you're at home you can ask it to play some music or if you're in a chat with a friend It can show you what's playing tonight. It's like your own personal Google naturally You get the point right I like to say that machines will do the living for us This is completely convenient. I mean it's if this actually works, which I think it will Imagine why why wouldn't we use that? Like Google Maps, I mean who is not using Google Maps or ways or you know to find their way in strange cities You know, there's a thing called the glass cockpit syndrome Which is a thing for pilots of a huge issue because in the in the airplanes They change from using levers and routers and switches and dials, you know to all screens. It's just all screens. It's just glass And this has led to the fact there's some recent research on this in the u.s That the average pilot in the u.s flies the plane three minutes per flight And they forget how to fly Allegedly, I don't have any pilots in the audience. They would kill me for this, right? But imagine if we Let everything be done by smart applications like that would we forget how to do anything ourselves like like we would just talk to a machine It would do it for us You know find me the right woman to date or Look for a better job or win the lottery for me or something Yeah, these kind of obvious things. I think ultimately that's that's a destination that we have to think about You know, this is a comic on the same this part this part is called aloe by google right because it's always listening So in return for using these amazing things The machine listens to everything that happens in your living room Let me ask you a question. Would you agree to that? Would you agree to the machine listening to absolutely everything you're saying in order to give you Chime in and give you a service Well, some people would say wow who cares right nothing to hide difficult question We're going to live in a world like this A world where essentially we allow those machines to go diving in our head If you're in the advertising business you love this idea I mean that the deeper you can go inside of people's heads the more you can sell them That's not necessarily a bad thing I mean advertising and marketing is based on this very idea that I know what you're thinking right But let's be sure about this there's a limit to that how much of that we can use There's also process of opt-in Advertising I'm sure you're aware of this advertising is a trillion dollar business right advertising and marketing As we know it is ending because of this There's a whole new way of doing it better with more responsibility That's just now being invented a great opportunity. I think So think of a world like this right Where our brains can go out and do all these things are called this omnipresence omnipotence A world where we become as god It's a great book if you're interested, you know this god or not. This has it's a great book called homo dales by A writer from from I think israel that you should read along with mine. Of course when I hear when I there Um Where is this going? I think this is an interesting question to to examine it also because Business forces us to to get to that point that but here's a bottom line on this when you think about technology and digitizing and transformation Technology is really not what we seek But how we seek Technology that's magic. That's great If technology is a little bit manic people get obsessed, you know, that's kind of normal like smoking or coffee or You know some mild addiction Can be a problem but most of time most of us have things that are a little bit addictive But when technology gets toxic and it poisons us, that's a bad thing So if you're in the appetizing business, you want to be magic You want to maybe a little bit of mania is all right But you don't want to poison people's relationship by surveillance right by track by constant tracking that turns them into an algorithm You don't want to think of your customers as as algorithms. They're not You know how human decisions are being made They're not based on data This 98 percent of what we are is not not based on obvious data as leaves, right? So we have to keep that in mind when we think about how we digitize and how we transform digital Because the convergence of man and machine Is not decades away. It's years away You think this is bad news is not bad news It could be bad news, but hopefully we'll be smart enough to deal with that My kids will live in a world that will be so digital that we we would think this is straight out of a star wars movie Remember the scene in minority report where tom cruise goes inside the data He pulls out the data and it takes and throws it over here and create that that's already reality. This is very expensive But in a few years we can do that. I'm talking to an airline now that is considering getting into the virtual transportation business Would that be a business plan for t.a.p. I don't know But virtual transportation does not mean transporting my body but transporting myself in a holo lens, you know in a hologram So I traveled to Singapore for a meeting and I but I go to the airport and I actually go inside of the virtual plane This is all very close So we have to think about what that means for for business and basically the idea that technology cannot do something is going away There are some tough cases like cancer water solar energy But you know now everybody agrees including the oil companies even Agree that in less than 20 years solar energy will be at the point of getting enough electricity for all of our needs Think about that for a second That's that means 35 trillion dollars of lost assets pipelines oil platforms If you're not ready for that change you will definitely not be there to witness it So it's very important to think about this is what's happening. It can be a little bit Challenging when you think about this and really what we need to discuss is not just technology because that is already happening Right, but the social contract You know my kids and their kids are going to live to be an average of 100 years old Not because of genetic engineering because of everything else All of us right now in this room already We're getting a present. That's a third of the year every year longer in lifespan In the u.s. They say 70 is the new 50 And maybe in 10 years 100 will be the new 60 right and then we go backwards. I don't know but that will Enable us we have to think of a different social contract different education different retirement different work I think portugal is the perfect place for this Because it's kind of a a reset of economic revival that I can feel here happening If you compare for example to Germany where we are not good at resetting, right We're very good at production We have a very hard time thinking of the future as such because we're very much about today So this is really a change that we have to embrace And this is a future that is coming without a doubt that we will have machines that have a higher IQ than all of us in this room together Hard to imagine Because machines are so utterly stupid still I mean a machine can play against the world champion in chess and it can defeat the world champion and go But try to have a machine to talk to a two-year-old, right? He's not Gonna happen In seven years we have computers that have the capacity of our brain and that partner will be soft So then we can do things, you know all these headlines you hear about every every single day Thinking machines cognitive computing we're moving into a future where we're going from simple machines that can do tabulating remember those days To program computers and now the future is to cognitive systems computers that can think But when you use your google map, right if you're in the right country It will already think for you and it will say you know what I know you like sushi So here's a couple recommendations It thinks for you it actually anticipates you This is a very big change now when you think about computers that can think Forget about thinking like we do Human thinking has not actually been fully explored how we think and how we do this. I mean The part of emotional intelligence for example, right? We don't really know how that works yet So when you think about machines that can think it's that machines don't think they don't learn They don't understand like we do It's very important to understand Whatever smart technology we're going to use whether it's cloud computing whether it's robotics whether it's artificial intelligence They will be extremely useful to help us what we are best at which is to do things that machines can't Machines will get better better and better and they will take jobs. Yes But that's a future we have to think about understanding where we go with this in this World between the algorithm. I call this on the left here andro rhythm, you know the the human things When you think about this for a second, you know, what do you value most in your life? Is it possession? Is it things that you've acquired? And now we can clearly see that, you know, all the research says there's one thing we value most that's relationships and purpose and experiences Experiences actually reshape the brain They actually make your brain different and this is why advertising and marketing for example is such a crucial thing when you create an experience around a product You actually change its perception So that's a world that we're moving into and Daniel Kahneman the world famous psychologist once said basically that we we think with the body not the brain Your customer isn't a brain your customer is a database your customer isn't an algorithm your customer isn't just a bunch of zeros and ones We have to do better than that Now this is not to say you're going to ignore the zeros and ones because you can't If you're not good at data mining, if you're not good at understanding technology, you will not survive this that there's no doubt about it That's the flip side, right? It's we think with the body Not the brain. So what I've observed in the past, you know, is that basically what has happened is that A lot of us are if you've been in business for a while We think of the past as a recipe for the future Because we've been successful it has worked So in the car business, right? You can only take the car business as an example There's a bunch of mantras in the car business, you know, all the people that have money buy nice cars, right? Is that true? It was true no longer true because kids are not getting driving licenses If you're looking at the amount of sharing that goes on car sharing electric vehicles public cars public cars Would have been unthinkable in terms of mindset, right? And yes car sharing will not work somewhere in the north of portugal where there's no city or no wireless network but So if you think about the future the future is not an extension of the present You have to understand this is very important If you're in the car business today, what is your number one objective? Self-driving autonomous electric sharing mobility In fact, you talk to the CEOs of the car companies. They say they're no longer in the car business than the mobility business And this is what we have to understand about everything that we're doing as we transform But we cannot just look to the past and then say what's going to be the same There's a tsunami of transformation coming And you know this part of the business I was involved in the music business I was around in those days when Napster came on remember Napster, right? The whole business model blew up Well today in the music business if you buy a cd or dvd and you give it to your kids for christmas They call a therapist Think you've gone sick That's stupid I mean think of that but in 10 years it's all in the cloud And now you have the first bookshelf to project digital books, right? You pretend to have a library I still have a real library. I love my library, but And of course, you know the other thing of course you notice with music you have Spotify it in portugal Or other services in the cloud You know you're paying 10 euros for Spotify. You know how many songs they have 21 million songs You know what the average value per song would be if your calculator would be a bunch of zeros And you paid 20 euros for a cd before Now think about the difference at tsunami of change that's coming to banking to insurance to government To buying things to e-commerce Here's a great slide from the Publishing business newspaper business. This is one of the most hardest the hardest cases Is journalism and press and media Get the new business look at this model Where this is basically global advertising revenue and see how it basically drops dead around 2000 When mobile really came up And you see who's getting all the new money Not the publishers of the old stars It's the new guys, right facebook facebook and google make about 90 of most advertising revenues on the internet And now chinese companies are Catching up to that. We don't really have numbers in that yet, but so really what's happening I like to say continue to imagine our future in a linear way like you know one after the other Will lead to catastrophically flawed assumptions If you think your future will continue like today, you're seriously mistaken It's very highly unlikely unless you make hot dogs or your garden or even in that case It's that is something we have to understand it's something that we're going we're heading into a perfect storm And I think that's a positive thing, but look at the change Right, I would like you to take a look at your company where you're wherever you're working and look at those four things This is the four areas of change the four forces, right the areas ripe for disruption If you fit all four of those You've you've got to go home and start working on the business plan for the next five years complex environments banking, right regulation government And trust issues also banking obsolete in the media is also banking restricted access also banking energy Not quite as bad. Yeah, but coming So that's the area ripe for disruption and the taxi drivers are part of this scenario by the way That's why they're being disrupted. That doesn't mean they can be disrupted for free or without creating value I call this the tesla moment Now the tesla moment is when you realize that the new guys who are doing things differently are not just utter idiots Like we did a seminar for the german car business six years ago with a bunch of CEOs Six years ago and we said okay self-driving cars electric cars battery driven cars car sharing, right In a room like this we had we got laughter laughter And now they're saying oh now we have to spend three and a half billion euros to catch up with google That's painful Some companies will not survive you don't want to be in a place where you realize that your tesla moment is behind you Where these guys weren't idiots that were actually doing something real That's very important to think about digital native business models So here's one of those The future really is about providing experiences Because now everything is becoming digital very soon. We can print The most standard products like shoes and iphone cases and what have you Even bags we can print on demand that is been long promised, but finally happening FedEx and ups are already looking at the possibility of instead of shipping They have a giant printing truck that costs like three million euros And that truck is driving around town printing things on demand Right with a license from whoever prints them airplane parts car parts Sounds like science fiction and not far away the future is providing experiences If you can think of a business model that provides an experience if you think of something that Stages something or it becomes a different thing. I think that's good. Here's an example Mercedes-Benz I spoke at their event recently. This is a new van called advance And this van was a little bit stretched for some reason. It looks giant. It's not that big actually This van has two drones on top and a robot in the back And instead of the driver going out and delivering to each person He gets out at one person that he has to talk to while the drone delivers the others the small ones And inside the van the the driver doesn't actually look for for packages It comes to him automatically based on the order of the trip Creating an experience. Here's the short scene from the drone delivery You know what their the headline on this is Mercedes-Benz vans will not sell cars. It will sell outcome It will sell the result of the success of the business Now that's a risky business model obviously compared to selling your 390 000 vans or so a year just selling the vans But this is something where we're going. This is basically what's happening And so in this context we have to understand that data is actually the new oil This was already said 15 years ago Reality is that our world is run by the most powerful companies Most of them us and some chinese now That are based on data and here's an interesting chart on the left You can see the most powerful companies including some portuguese companies in the old days Were all companies and banks 2006 on the right you see who's there in 2016 just 10 years later Is the data companies technology companies the most powerful currency of the world is data And the most valuable brands are those that deal with data with a few consumer goods in here as well That that we have to understand the intelligence is the new gas a new petrol and And so what's going to happen? I think this is going to be a primary discussion in europe If data is the new oil We must regulate it Imagine for a second If we hadn't regulated oil, I mean it was bad enough with the bad regulation that we had right But if we hadn't regulated oil and gas or nuclear god, you know, probably wouldn't be sitting here now Been mopping up oil somewhere So in the future we're going to have to think about how does it actually work right when companies are using data How do they respect that we're human that we have secrets That we don't want to be naked all the time that we have rights If you can find that balance you find the future I would encourage you not to copy the silicon valley model Of disruption that's over. It's the disrupted model is being disrupted It's now a model of creating new values that fit us So I think that's something we're going to see around the world, you know, I call this dataism Is worshiping data It's a new religion, you know The mobile phones are like the new cigarettes and the internet is a new religion And so this is dataism as a form of belief that Data is always true But you know the simple saying Garbage in garbage out You give a certain kind of data you get other data back and you can improve that but The bottom line that data is not all there is to reality If you use trip advisor anybody use trip advisor here, right? I pity you but I sometimes use it If you own especially in Portugal, that's especially true in Portugal for some reason If you eat only where trip advisor tells you you are in deep trouble, right? Does it mean it's useless? No, it doesn't mean it It's interesting, right, but it's not real That's like saying the robot is my wife. It's not true. It's not the same And it will never be the same even if it gets better, right? This is a different kind of worldview that I think we have to maintain Your customers just isn't a guy that you crank the lever and out comes the money That will be a bad approach to a future. I think that's something we have to think about So I'll wrap up so we can have some questions The CEO of Google said something very interesting the other day. He said basically Google is going from mobile first to artificial intelligence first This is a big concession for a company that makes two and a half billion dollars a month with advertising Based on keywords So anything you do in the in the era of e-commerce you can safely say it's going to be impacted by this whole scenario We must start asking more questions about why When you think about transformation, the first question you have to think about is You may want to ask how do I do this or does it work? The second question should be why Why why is it good? Why is a good thing to do that? Where is it going? That's I think the future that we're heading into in a world that's based on the internet of things and all the connectivity And all the things that we have around us So i'm going to come to the end. I uh, just give you a couple of headlines and First don't use your amazing technologies To cheat the world, you know, they're saying about software eating the world Well, you don't want software to cheat the world, right? We're just to present something that isn't really correct This is a great Gift showing you what happens when you think of the world as a giant software engine To be careful to put humanity in the center It was just an announcement by the big technology companies a few days ago On this partnership on artificial intelligence, you know what the headline is It's a partnership for artificial intelligence to benefit people and society That's pretty ambitious I think that is the right direction I think would also be a great opportunity to put human flourishing in the middle To think about ways of doing this I'm going to have to jump ahead a little bit here because we do want to get to some questions While i'm fiddling with this you can uh, you feel free to come up with a couple of questions so Important I think for us in the future is if you want to have a job in the future You want to be meaningful? You should see if you can Become extraordinary extraordinary human whether you can Become non-routine now the word routine is a bad word here If you have a job with routine as I was saying earlier if you can describe it It will be automated Very important to keep this in mind And I sometimes use the the image here of the driver the self driver, right? It's like what will happen and I think the most important thing we can remember from this is that We have to put the human inside I keep the human in the loop. That's where the value is being generated. It's very important when we think about the digital futures So combining what I call the algorithm the machine intelligence And the andro them. I think that is the the power of human purpose The power of the context where we're going in a world that's going to be those three streams technology data humanity The important thing I think here in the end is what alvin toffolo one said famous Science fiction author and futurist says the future belongs to those who can unlearn and relearn I think that's what we're doing here. So I'm very happy you're here and you listen to my talk now We're going to take some questions. Thanks very much for listening. Thank you girls. We're running against time So I think we'll have uh, I don't know if there's someone that wants to make one question Common is fine as well I had a feeling uh During your speech that was in the trailer of a movie about Artificial intelligence. I was just waiting for schwarznecker to come in with all the robots Is there hope for us? No, no just kidding I think when you think about artificial intelligence and what computers can do You have to forget all the stuff you see on television and in the movies, right? This is entertainment based on fear Americans are very good at this. You know, I lived there for a while. I know Creating movies that make you worried about being killed by robots. The reality is we're far away From robots having any such power The the potential that's much bigger is that we start acting like robots We start acting like machines because there's so much like us So for example, when you when you go to a restaurant, you see a family sitting there. Everybody's going like this and Talking to somebody somebody in kazakhstan about their meal or something They're actually communicating with others rather than with the people that are there I think this is the major issue for us is that we're going to start use technology to dehumanize so Don't worry about that part of it. I think we we have to worry about how we can become more human So we can create more sense and more purpose Just to reiterate this point, right because we're talking about digital transformation today If you do not transform digitally and you do not adopt the technology, you will be utterly useless And that is what I call digital Darwinism However The goal is to go beyond that transformation of technology and transform us and transform how we look at the world And how we generate value and that doesn't mean we're going to become technology right in my book I use a a key word that says we embrace technology But we don't want to become it I think that's a crucial difference. There was a question here How do you define human consciousness? And there are some And investigations and scientists telling that we are living in a simulation Yes, it was a nice one though here. Yeah well The way I define to find human is This is a difficult question. It's just like a question of happiness and ethics, right? Many things that we are are not clear to anyone really there's many things that happen between humans that we have no idea how that happens, right? Uh, there are many things that are scientific to a level that we still don't understand at all And other things like you know call them spiritual beliefs understanding love emotions That that we don't understand no computer will ever understand. So The best thing we can do is let the computers do all the stupid work, right? All the routine work all the number crunching all the delivery of garbage Fine with me And then they'll pay for us to live better But we should not confuse those machines with us Just like we should not confuse the mobile with with my brain This is a this is a subsection of our reality. So I think that Humans are far far superior to anything that we have invented for quite some time that may change in a hundred years And then we may have a problem, right? But uh for the time being It's good for us to really understand technology and to use it But to transcend it right to create human value. I mean in business The value that you're offering is not great technology. I mean that would be stupid anybody can buy technology Anybody can get SAP HANA or or sales force or whatever What we supply in business is trust And relationships, that's how business works and we use technology to amplify that that is really the the meaning of transformation We don't have more time for more questions Thank you bird for being with us and thank you everyone we're gonna make A coffee break now, okay, and we'll return. Thank you. Thanks for listening