 Good afternoon, and welcome to the digital transformation of industry's press conference at the 47th annual meeting of the World Economic Forum. Welcome everyone in the room and everyone watching on livestream. The fourth industrial revolution has had a massive impact on all industries. Today's panel are the experts on its impact and its opportunities. Sitting beside me is my colleague, Bruce Vynelt, head of digital transformation at the forum. And beside him is Peter Lacy, global managing director of strategy and sustainability at Accenture. Beside him is Stephanie Linnarts, global chief commercial officer at Marriott International. And last but definitely not least is Jean-Philbert Nincen-Guillemagne. And again, I apologize. I think I've completely transformed the meaning of his name at this point. Minister of Youth and Information, Communication and Technology of Rwanda. So let's start with Bruce. On Tuesday, you released the findings of the digital transformation initiative. Could you please share some of those findings? Yes, thank you. Thank you very much and welcome everyone. It's correct. We did launch the findings of the digital transformation initiative on Tuesday. So that maybe a little bit about the background first of this initiative. We launched the digital transformation initiative in 2015 in Davos two years ago. And we've been since collaborating very, very closely with our friends from Accenture on that. So thank you very much. One of the more ambitious projects at the World Economic Forum, and we really analyze the impact of digitalization and digital technologies on industries, on sectors, on the enterprise itself, and on society. And there's really two ways in which we did that. So number one was that we did a number of industry deep dives with a 10-year view. So we analyzed what digital really does to healthcare between now and 2025, what it does to telecoms, media, oil and gas, mining and metals, etc. And we found about 130 digital initiatives which we then quantified and analyzed. With digital initiatives we mean things like the self-driving vehicle in the automotive industry, or the connected healthcare worker in healthcare. What we then also did is that we took a step back and analyzed the common digital patterns, trends and themes across these sectors. Because digital is a horizontal play, we had that hypothesis and we found that out. One of the really notable findings that we did come up with during the analysis of the horizontal topics was that there isn't really a shared or a common dialogue in digital cross-sectors, but also between sectors and the public voice, because every single sector currently deals with digital separately. So one of the things that we created was an economic growth model, a pioneering economic growth model which actually identifies and quantifies and thus allows to prioritize digital initiatives and then creates the basis for discussions between the public and the private sector to create incentive structures to unlock this value, this trap value to society. Maybe let me give you just one example to make it a little bit more tangible. We calculated, we found out that by 2025 about 90% of all last mile delivery of parcels in logistics could be done by drones. That obviously has a huge impact on society as far as CO2 missions is concerned. Up to 87% of CO2 missions can be saved through drone delivery. It has a substantially impact on industry. The last mile delivery, all of a sudden the price gets reduced by 25%. However, currently there's a huge roadblock to this happening which is regulation. Nation states and regions are struggling as drones really, the pace of development of drones outpaces regulatory policies and regulation making. So in the US for instance, just to give an example of how fragmented this is, Amazon has just launched or is testing Amazon Prime Air. So in certain states and certain regions of the United States, it is entirely possible to deliver packages via drones. If you go to my home country, Germany, you're only allowed to fly drones as far as line of sight is concerned, which makes package delivery pretty much impossible. If you go a little bit south, where we are today in Switzerland, not a single drone would be allowed to fly above us here because it's just not allowed that drones fly across a bunch of people which counts more than five individuals. So any kind of urban flight, let alone package delivery is not possible. So it's these kind of findings identifying societal benefits and industry benefits and then looking at the roadblocks and working in public-private collaboration to unleash this trap value and maybe get rid of the roadblocks that are in place. And I'd happily talk a little bit more about the findings, but I realize I'm manipulating everybody's time at the moment. So I'll chime in later again. Thank you. Thank you. So Peter, you're more from Accenture. You've really been part of writing these reports during the research on these findings. Can you speak more on how this model can be used by businesses and how they can unlock these opportunities? Absolutely. Well, first of all, just to reciprocate and say we've been very pleased by the level of partnership that we've had both with the World Economic Forum but also with many of the companies that have dedicated a lot of their time to this and have shared their insights and indeed the governments that we've worked with over the last two years on this project. Let me unpack a little more some of the thinking around the framework to speak to your point about how it can be used. But before I do that, I think it's important to give a sense of the size of the prize. So we've talked before about the idea that over the next 10 years, a little less than 10 years to 2025, there's $100 trillion of additional value available in the whole as a result of the digital transformation of industries and the application of the technologies that Bruce mentioned. But here is a really important point. And it's an important point because there is a growing narrative that is around fear of digital transformation and uncertainty. In our analysis, what we've shown is that 55% of the value of that $100 trillion is not simply benefiting shareholders or owners or industry but benefits directly society in terms of job creation, in terms of wages, in terms of benefits to customers and indeed avoided costs as we see improvements in things like healthcare and we see digital being deployed to tackle global issues like climate change. So I think that's the first point to make. This is not to say that we should be polyanerish, not to say that there aren't going to be enormous challenges and that we shouldn't be safeguarding and thinking through carefully how we steward the journey, but there is a tantalizing prize on the table, not just for business but also for society. So that would be my first point. I think the second point I would make is that what we've tried to do with this framework and this growth model that Bruce referred to is to bring the numbers to bear for an informed evidence-based discussion between business and government and other stakeholders. Now on the one hand we've deployed that and actually piloted that with the government of the UK, with the Danish government and also with one of the major states in India to really look at not how that works in theory but how it works in practice, identifying the biggest areas of opportunity for those regions to go after and so far it's beginning I think to really reveal insightful, useful guidance for policymakers and business that can have a more evidence-based discussion on that. But that's not the limit for me. Actually the real opportunity for business is to be able to quantify and map their investments, the technologies they're deploying, the new business models they're deploying, the interventions they're making in their ecosystem and supply chains, not just by being able to analyze and quantify the traditional return on investment that you might get in an economic sense, in a traditional financial sense but also to understand the benefit to customers, to workers, to society more broadly. And understanding that sweet spot and being able to quantify it I think will be the next generation of strategy around digital bringing new levels of rigor and being able to really identify where there are those win-win hotspots both for business and for society. Wonderful. Stephanie, you're in an industry that's actually been one of the most disrupted. So what are the lessons that you at your company at Marriott International you've learned but also what are the opportunities that you've found along the way? So absolutely, travel has certainly been an industry that has been impacted and disrupted by the digital revolution but let me start by giving a little context on travel because when I talk about the opportunity I think these numbers will be interesting. So last year 1.2 billion people traveled outside of their own country. That doesn't count people that traveled within their country but outbound which is quite a remarkable figure. By the year 2030 that figure will go to close to 2 billion people traveling outbound which is pretty remarkable. The data suggests that for every 30 trips roughly about one job is created. So that means you know if these figures are even in the ballpark we're talking about 25 million plus jobs being created because of travel. So travel is big, one in 11 jobs in the world are related to travel. So in anything that helps facilitate travel, make travel better I think will have a real impact on the society. So I think that's an important context. You know as it relates to the opportunity I think the digital revolution gives the travel industry and the hotel industry in my case tremendous opportunity to enhance the guest experience. And my company is spending a lot of time, money and resources on thinking about how we can do that and not just when someone is at our hotel you know in the four walls of the hotel but well before they come to the hotel and then after they leave the hotel. So really trying to enhance the entire travel journey and what can digital do to help that? What can data and technology do to enhance that? So we are doing a lot on our website and with our mobile app to help people with the pre-planning part of their trip with a lot of local area knowledge etc. You know Marriott purchased Starwood hotels and resorts at the end of last year and now is the largest hotel company in the world and interestingly our website, our combined website will be one of the largest retail websites in the world. Travel is such a big part of what's sold on the internet. So we are spending a lot of time investing on making the pre-planning the pre-trip experience really robust and deep and rich. And that's what people want. Millennials, we talk so much about millennials, all the research suggests that they want experiences more than things and travel is an experience. Then when it comes to the hotel stay how can we use digital capabilities to enhance the guest experience? I mean there's so many interesting things to do. A couple examples to make it real. We've rolled out to all of our hotels globally, mobile check in and check out. So you can check in with your phone and check out with your phone and we're rolling out mobile keys so you can go right to your room with your phone and you know quite interesting. And I'll talk in a second about so what are the implications to jobs then because that's always to your point something people are thinking about. Just a couple other you know on property examples. We're also rolling out at hundreds of hotels soon to be thousands beacon technology so we can on people opt in for it offer very tailored offers to people when they're at our hotels. They're often there for multiple days or a week if it's a vacation. So how can we make sure that we're giving people the offers that are meaningful to them while they're in it makes their experience deeper and richer and you know helps us of course you know gain more business from the clients when they're in our properties and then of course post stay there's so much we're doing to invest in that part of the dreaming about your next travel planning for your next travel experience. But on the job piece you know I think very analogous to and this is my personal opinion would happen in banking everyone thought ATMs right we're going to take away all the teller jobs and what they really did was transform them right people don't be talking about this at a panel the other day don't give out cash anymore you know or cash checks right because you can do that in the ATM but they've become more relationship managers and selling other things. Likewise when you think about a hotel I think about the front desk will there be some impact there very well could be but we can also reskill the people at the front desk to not be about checking people in and out but being more local area knowledge experts upping their concierge skills if you will and again enhancing the guest experience making the guest experience better so you know I think there's really in travel a tremendous amount of opportunity to use technology to use data to use what's happening in the digital space as a wonderful way to grow our industry which in turn grows jobs and the last point I'd make on travel is that I do believe the more people travel the more barriers are broken down between cultures and societies and that's another added benefit of our industry growing. Thank you so we've looked at the business side we've introduced what is the potential that can be unlocked. Minister Rwanda has been a leader in innovation what is the government side of this equation what are the impacts that you've seen and you see in the future. Right so if you permit I'll start with the last question which is on the impact and I will pick just two examples that we'll discuss around this table I'll start with what Bruce said about the drones Rwanda launched the first commercial drone program that goes out of sight and it is in the business of delivering life-saving medical products in this case a blood to remote healthcare centers the program has been operational for more than two months and it's been very very successful and in this case I don't know how Bruce you quantify or monetize one life saved because a life doesn't have a cost it costs everything everything we can invest to save that one life is worth every resource and every time we've put in that business. So on the on the travel I think one of the latest addition to the Marriott family is a beautiful hotel in Rwanda I didn't know about 30 travels equal to one job because in my job what keeps me awake every day is unemployment and Marriott has contributed to creating 250 jobs in Rwanda which are going to increase by creating this experience that makes everyone look forward to travel so by increasing the number of people who travel jobs are being created and impact is being generated in Rwanda. So the next part of your question about what is the government what is our perspective I think the government should be in the role in the job of enabling you know the growth of the digital economy removing every barrier every friction so that those experiences can be increased and the kind of regulation that you talked about that are hampering the growth of digital economy can be removed so five things quickly one is to connect and bring everyone online there is a huge potential that is still trapped in the four billion people that are not connected globally in Rwanda we are talking about five million and want to bridge that gap just in the next three years the second is educate and promote and I don't want to comment on this because I think it's self-explanatory the third is regulate so when I talk about regulate it's not restrict it's actually put in place a modern regulatory environment that gives confidence and trust to all participants in the ecosystem in certain cases it is deregulate. One thing that we don't want to deregulate is our airspace with drones we want to make sure that air travel is safe but at the same time we don't want to put a break to innovation and it's possible we have done it and I get so many calls from people who come and say how did you do it in Rwanda and we are open to share the lessons we've learnt in the process the fourth is invest and finally it's corporate there is no one no single country no single industry that can figure out how to make the digital economy grow so it's something that has to be done in partnership with everyone so before we close this press conference I would like to provide the opportunity for questions we have a couple of microphones in the room so if you would like to raise your hands if we don't have any questions I would like to first thank all of our panelists for sharing their insights thank everyone in the room who's attended and watched online in the live stream audience and I would also like to encourage you all to visit the digital transformation of industries initiative web page as Bruce said they launched on Tuesday their findings you will find all of their reports all the documents that Accenture also contributed to and it's a wonderful place to read so that could be your weekend reading so again thank you to our panelists and to everyone in the room