 I'm here to talk to you about the future. I live in Switzerland. I have a long story going back to San Francisco where I lived for a long time. I used to be a musician and producer, and then I went on the internet, I did a bunch of digital music startups, and now I've been a futurist. What is that in Portuguese? Prospectivo? Maybe? Pudro logo. Yes, okay. I've been doing that for 15 years. And I talk to companies about what the future brings. And this is really what I do here. That's my book, I'll talk about that later, but I have a new film coming out, or that's already out called We Need to Talk About AI. If you like artificial intelligence, you can find this on YouTube. We need to talk about ai.com. That's a new short movie. So this is my job. I don't predict the future. I don't tell you what stock to buy. I just observe. And it was interesting seeing all of the stories before. You guys are pretty good observers, especially the last one. So this is a great skill to have for the future. Because I tell you most of your customers are telecom companies, right? They're not very good observers. It's very important that we listen to the future. Now in China there's a great saying, if you want to know about the future, ask your children because children can play, they can examine, they can try things. My other part of the job is this one, combining things. You would not believe how many successful companies that have a hard time with combining new things. This is very important. I think it's something that we have to practice. And I call this foresight, not prediction. So foresight means that you kind of know what's coming, you get a good feel for what the future brings. So I'll share a few things with you. First, as I say in my new book, the next 20 years bring more changes than the last 300 years. Sounds really crazy, but it's not. If you see what's happening today, a language translation machine can speak. The machine can recognize me. Cloud computing, self-driving cars, autonomous vehicles, flying taxis, genetic engineering. I mean, 300 years ago, we had the printing press and the steam engine, but it didn't change us. Now, if we think about this for a second, most of you love your mobile phone, your smartphone as much as I do, right? This is our second brain. I see a second brain is in here. And if I look at my kids, sometimes I have to say their first brain is in here, but anyway, so this is, we keep everything. Our music, our banking, our mobile numbers, our dating, right, it's all in here. Think about this in the future. This machine will have a million times the computing capacity in 10 years, right? The iPhone that I hold here has more computing power than the computer that brought the Americans to the moon, just in here. So every industry now is in this wave of change. First, the music business, you know, Spotify, YouTube, then the media business, then advertising, then telecom, banking, right? I mean, the banking guys are facing a similar disruption than the music business now. It's huge, so that's a huge opportunity for you to help them, right? Not just to sell them things. So I live in Switzerland, take my jacket off, I'm getting excited here. So I live in Switzerland, the home of the cows, right? And it's really interesting. I was looking the other day at great examples and I saw this, you know, Richard Branson, who you may know, is a fantastic entrepreneur, right? I think he started over 370 companies, right? He started a company called Clean Meat, right? Together with Bill Gates. And they're inventing a way of producing meat in the laboratory. But this is real meat, not fake meat, right? So growing the cells, it's essentially growing meat without the animal, right? So as they say, not cruel, right? So I would say science fiction is becoming science fact. I mean, if you're a scientist, you would say, well, we've always talked about this. But now, I mean, they're saying right now, this kind of meat is right now, it's about 2,000 euros a pound, right? It's not much, you know, it's like Switzerland. But so when I tasted it the other day, right? It tastes really good, but 2,000 euros. And Branson is saying roughly in five years it will cost the same regular meat, in 10 years it will cost one-tenth, right? So you can feed the world from a laboratory if you want to eat meat, right? Here's a robot, right? You've seen this Boston Dynamics robot maybe before, but the bottom line is it used to be extremely difficult for robots to do anything like this, to actually move, to open a door, or destroy the door, right? Now this robot is 860 kilos, it does a backflip, right? And this is not just, you know, this is, I mean, it's mind-boggling, right? And this is happening every day now. I mean, we're looking at all these kind of things that we're saying, okay, science fiction is science fact. Very exciting, but also very scary, right? Because if you're a soldier you don't want to fight against this guy, right? You're in trouble. Self-driving cars, do you see any self-driving cars in Lisbon? Not really, we're not really there yet. But you know, you can see this guy's very excited about the self-driving car. I can take the hands off you. This is called level three self-driving, right? Level five would be sitting in the back and eating a hamburger, right? It's gonna be a long time for level five, especially in Lisbon, a better example. Some sounds? I've read all your lyrics. You've read all of my lyrics. I can read 800 million pages per second. That's fast. My analysis shows your major themes are that time passes, and love fades. That sounds about right. I have never known love. Maybe we should write a song together. I can sing. You can sing. Do-be-bop, be-bop-a-do. Do-be-do-be-do, do-do-do. So this is a machine, IBM Watson, that reads Bob Dylan's lyrics that can speak in a regular voice. He's trying to learn what it's like to write a song. How far away are we from that? Well, if he wants to make a copy of a song, it's not so difficult, right? But how would you write a song? I mean, how do you write, I'm a musician or a songwriter. You know, how do you write songs? It's not exactly mathematical, right? So machines can make music today, bad music, just like humans. Can they create something that is different? I mean, how long is that going to take? We're clearly heading into a future that I would say, you know, the future is not an extension of the present. We have to realize this, you know, when I was in the music business, I sold records. You know, round things, remember those? If you buy a CD today and you give it to somebody for Christmas, they'll call a therapist, right? I mean, there's something wrong with your head, right? Cause music is in the cloud. If you're looking for example, the car industry, the future is not, of the car industry, is not to sell cars, is to sell mobility. Sharing, leasing, autonomous cars, no cars, electric cars, right? I mean, if you have BMW and you're selling really nice cars to people like me, and then next year you're going to sell a subscription package to the city of Singapore, right? I mean, I'd mark my words in less than five years, we have a Spotify for cars. You'll pay, you know, your 300 euros or whatever the deal will be. You can use any car you want at any time, just like Spotify. Remember we used to say, we used to buy a CD if you ever bought CDs for 20 euros, 12 songs. If you have Spotify or Apple today, 10 euros, I think it's 10 euros, right? 21 million songs. So the world is changing. Do not believe for a second that just because you are successful today, that the future will be the same. Digital transformation is very important because we're constantly transforming. And it's very important to think about this for a second, you know, when we are successful we are focused and you guys are very focused on your engineers and programmers, right? So you have to work like this, put your headphones on, right? But we take a broader view. For example, in the music business, we have gone from selling CDs to selling the cloud. And then we've gone from selling a car to selling mobility, from selling the bank to the building to a blockchain and digital money. And this is very important, right? So when you're focused, you also have to be able to go further and think of a wider future. Now back to Switzerland and the cows, right? Okay, this is where we are actually in Switzerland connecting the cows, right? So the cows are getting a radio frequency ID chip, right? And there's a milking machine and you can go up to the machine and the machine recognize the cow. That's 120,000 euros for this machine. I have a Rolex built into that. But so you go up to the machine and the cows are giving 25% more milk because they can go anytime. It's changing the whole equation of farming, but being connected can be great or it can be terrible. There is such a thing as being overconnected, and I'm sure you're familiar with that, right? To have too much input. If you look at the music business, what happened in the music business all of a sudden we're going into a future where it's no longer about selling copies, but about selling access. And that is happening in all of the industries. I mean, if you're looking at this direction, it's going to be the same in the telecom business, it's not going to be about selling connectivity. It's going to be about selling the other stuff, the added values. You see, our pool is declining pretty much everywhere in the mobile business. Most telecom companies are commodities. Where is that going? Do you really think that the big telecoms like Vodafone or T-Mobile in five years are going to sell the SIM card and phone calls? They're going to sell banking, health, media, content, access, cloud. And that's already pretty much, that's a huge opportunity for you guys because you're building all these tools, right? And this is not going to be a huge shift in terms of where we're going with this, and it's primarily due to the exponential curve, you know, Moore's Law. The exponential curve of course is an old hat, right? So Moore said that basically technology is doubling every 18 months in power, and that's why you have this huge hockey stick, right? But here's the important part. We're now at the takeoff point of this curve. We're at four. So if we're counting now it's not four, five, six, seven, it's four, eight, 16, 32, doubling every 18 months in power. If you go through the X up the scale, it's one billion. And how long would it take for third X up the scale? 40 years. So a world that's gonna be one billion times as far along as today. So we can beat cancer, we can have unlimited energy, right? We can reprogram pretty much anything. We can measure our DNA in 10 seconds. This is all stuff that's coming in your lifetime, in my lifetime maybe, if I'm lucky. But here's the thing. If we think one, two, three, four, five, six, seven, linear, we're not gonna make it. Because the world isn't linear. We are linear. We are just human. We're not going to live faster or have 36 hours a day or not sleep. I know you've tried that, right, but it doesn't work. Like multitasking, same thing. So we really have to think, this whole thing that are happening every day, if you read the news, the internet of things, intelligent assistance, smart machines, digital money. I mean, it's a universe of mind-boggling changes, and now we have this. This is a huge step the last two years called machine learning, I'm sure you're familiar with that. Simple idea, we're not gonna program computers anymore. We're gonna tell the computer what we want. Computer is going to look at hundreds of millions of data sets. It's going to figure out what the answer is in a nutshell. That's what we do as humans. And that will change or is changing computing forever. So you have the goal game that was won, and of course chess and many others, huge advances on this. And then the other thing is, we're finally getting to quantum computing, which was really science fiction. In Las Vegas this year at the Consumer Electronics Show, IBM showed the first quantum computer live on stage. So this machine is a 3D computing model in a gas chamber, filled up with gases rather than electrons. It's roughly 300 million dollars. And people are estimating it's going to take five to seven years for mass production of quantum computing machines. This means a million times, this box that I have here, a million times the computing power of this box, which means unlimited technology power. Metadata crunching, Bitcoin. And very soon these machines will have the capacity of the human brain. Right now there's three machines that could do what we do. 350 trillion calculations per second is the human brain. I mean it's amazing because we don't need a lot of energy for this. The computer would take the whole energy of the city of Lisbon. It's in the 50 trillion. So at this point in our records, while a colleague of mine and futurist says, roughly in 2050 we'll have the first computer that has the capacity of all human brains. The computer, like 10 billion. Mind boggling when we think about this and also quite concerning when you think about what they're going to do. But here's the thing for your business. Very important for your clients. We're going away from this world of saying everything is about infrastructure. Make the network work, engineering. That's the case today, right? You know what the future is? That's all taken for granted. It's going to be about services, experiences, platforms, relationships. Just like today when you're a musician, it's not about selling a copy of your song. It's about building a brand, having a fan base. So in the future all of your services that you work on, they will be experiences. They will be product portfolios. And telecoms that are saying, well if we just focus on selling the SIM card, selling the phone cost of the call, they'll eventually go away. You can see this happening around the world. It's a huge shift because now we have this world, right? It's a world of so many things that are changing. I mean this trend map for my friend Frank Liana who works for Tata. I mean you can easily add another 50, right? This is all happening right now. And somebody has to make it work. And guess who are the most powerful companies today that make this work? Not the banks or the oil companies, but the digital companies, right? The top 20, Alibaba, Google, Facebook, Amazon, Cisco. They're driving it to work. So what's happening here is we're at an exponential point of takeoff in the telecom business, most of your clients. So look at the amount of data, how data is increasing. You've seen this before, I'm sure. But you know what this means? Data is the most powerful thing in the world today. Not oil, not money, data. Look how fast exponential computers are growing in power, right? The cost of a hard drive is essentially zero. I mean who would have thought of that 10 years ago, right? This going towards zero. Look at this. What's happening with the market valuation of the internet companies? Facebook, Google, and what is happening to telecoms. Telecoms are still the same place. They're the cash cows. But they're not going up. So I think it's pretty safe to say, you know that saying from Mark Andreessen, who once said software is eating the world. I'm sure you heard this before in 2011. Everything is becoming software. Now platforms are eating the pipelines, you know the banks, the silos, the traditional companies. So if you're a bank like Deutsche Bank or Lloyd's Bank or other banks in the world, now the digital companies are saying, you don't need the banks. Just use your mobile phone. 65% of money transactions in Africa are done on the mobile phone without a bank. There's a currency called M-Pesa. I'm familiar with that, right? I mean it's mind boggling how that is becoming what's called the platform economy, right? This is a huge shift that we're seeing worldwide and the most powerful companies are on this list. This was just released three days ago. You may know an analyst called Mary Meeker. She works for Kleiner Perkins, the biggest venture capital firm in the world. And they have an annual report. So if you want to punish yourself, download her report. Her name is Mary Meeker M-E-E-K-E-R. 360 slides that you should be aware of. But look at these slides. Do you see something interesting here? Anyone? Where the hell is Europe? Where are we? Where are the Portuguese people? Or anybody from Europe, right? Even the Catalan's, well nobody, right? Nobody. China, US. You know, of course most people that do anything serious from here, they move to the US, right? But we can safely say Apple, Amazon, Microsoft, Google, Facebook. I mean, look at the power of these companies. Look, or you don't see the bottom line, sorry. But they have tripled their value in six years. Those are the companies that run the world. And you can bet that we're going to have regulation. These are the most powerful companies. Facebook makes a great example. I mean, these companies are taking our data, and many of them are clients, so I shouldn't talk bad about them. But the Chinese as well. Baidu, Tencent, Alibaba. So in this world, you've heard this before, I hope, right? Data is the new oil. And you guys are dealing with data, basically. Data is the currency of the world. Because from data I can define everything. I can explain things, I can predict things. I can change things. I can create different business models. And artificial intelligence is the new electricity. And the energy from Baidu said this several times. If we have lots of data, then we plug in the artificially intelligent machine that tells us what it is. I mean, if you're looking at the traffic pattern of Lisbon, for example, say one day, 100 billion data feeds, if that exists, right? A human couldn't make sense from it. But a machine could look at this and say, you know, if we change the lights, if we do these things, we can have a smart city. We can save energy. Third point is here, the internet of things. Many of your clients are leading in this area. You take those three together, McKinsey says 62 trillion euros of revenue shift. Smart cities, smart logistics, smart farming, maybe even smart government. There is a chance for that, right? I'm not going to comment on this, right? So now we're moving into the future where the stuff that you've seen, like X-Machine, right? This is science fiction. It's very simple why that's science fiction. You know, today, the most advanced way that computers simulate humans in a prosthesis, for example, right, an artificial hand, right? You could spend one million euros on an artificial hand today if you had an accident. One million euros. The hand that you get for a million euros does less than 1% of the real hand, right? 1% for a million euros, I mean. Okay, so how long is that going to take until we have this, yeah? I think this is very good science fiction. Is it a real threat? Yeah, it could be in 50 years. You know, this is not going to happen next week. The thing about artificial intelligence is it's mostly used for software purposes, right? Making smart software, look at the list here. Image recognition, algorithmic trading, processing of patient data, predictive maintenance. Today, artificial intelligence is really just what I call IA, right? Intelligent assistance. And that's where the money is today. We're not inventing humans here. These machines are as dumb as a toaster, right? The machine that drives a Google car does not play chess. It does not talk to my grandmother. It doesn't pick my songs on Spotify. It can drive the car if we're lucky, right? So that's good. I think it's not anything to worry about. Look in the financial transaction arena. It's used for risk assessment. All these really boring things, right? Like software, right? Simple stuff. In the publishing industry, it's used for writing stories, prepping journalists. It's used for travel, to put my data together. It's all very useful. So really what's happening here in the next couple of years we're moving into what I call smart everything. And if you're lucky, then you can contribute to that. So the old business goes into the smart converter. That could be you guys. Outcomes, the smart home, the smart city, the smart health, smart software, smart everything. This is a huge shift that we're seeing across. And then we have to be aware of this that artificial intelligence, artificial smartness is not at all like humans. Because humans are actually quite different. We're not processors. We're not binary. When you think of something, you don't go to the back of your brain and you retrieve a file like JPEG 045 and then you say, oh, here it is, right? That's what computers do. We don't do that. In fact, psychologists will tell you that humans think with their body, not their head. When we meet somebody, it takes 0.4 seconds to recognize another person. 0.4 seconds without saying a single word. I can meet you later and define a viewer threat or interesting or I mean, now you see me for longer than 0.4 seconds. So it's different, right? But as the science shows, you know, intelligence is at least four different things. Social, intellectual, kinesthetic, emotional. Will a computer ever learn how to have emotions? That's not impossible. I think we have to face that, right? But is it gonna be next week, next year? I think it's at least 50 years away. Maybe longer. A computer can actually recognize our emotions, but you know, there's a big difference in German. They say Dauzein, which means existence, right? These machines don't exist, right? They're simulating existence. And that's very important to understand the difference. So right now I think we should focus on the IA, intelligent assistance. That's what you guys are doing. I'm not worried so much about what's gonna happen with AGI, right? Artificial general intelligence. I think we should worry about that when we get closer, but right now we're just in this mode. Many people are saying, as your demos showed earlier, right? AI is the new UI, right? So artificial intelligence is the new interface. If you do more of this, I can guarantee you, you'll have more customers than you know what to do with. Because voice control, for example, is a good example for AI. It's not really rocket science, I mean, it kind of is, but it's not like the machine can understand you like I do. It just understands phrases and keywords. And that is coming everywhere. It's going to be a really, really interesting scenario in the future, which wherever we're going here. So looking at this kind of idea of speaking to a machine, you've tried Amazon Echo, Google Home, and so on. I mean, if you're looking at this, the next couple of years this will be normal. So think about what this means for a second. We will not go to this machine and type in best sushi in Lisbon. We're just going to say, order sushi. Or we're going to say, I need a hot date. We'll already do that. Or we're going to say, I want to invest 10,000 euros, find a good place. I need to fly to Hawaii. I mean, complicated stuff, like you can use your CRM system in your company to say, show me all the people that bought this from this country at that time compared to this guy that bought this. And the computer will just, like, Tom Cruise and Minority Report, right? So this will be mind-boggling, major game changes, speaking to devices, voice assistance. You know, in America, people have already bought 20 million boxes, Amazon Alexa boxes, or the Echo. In Germany, what we call this, the Stasi in a box. So the Stasi was a security service from the East Germans, you know. Because it listens to you. Germans don't buy it. Because they feel like threatened by it. So let me talk briefly about the feature of telecom. We're going to take some questions later. This is very important for you to realize that we're in this huge shift from engineering mindset to experience mindset. It doesn't mean that engineering is not important. It is, right? But it's how you think about it. From networks to infrastructure to services. And all of the winning companies are doing this, right? They're moving from this idea of selling products to the idea of making an experience. And that's pretty much happening. I mean, Amazon is the best example, right? I mean, the experiences that they're providing. But I'll show you a few other examples, but this is the important part. When you think about what's happening to us and this entire business, it's really about transformation. It's not innovation. It's becoming something else. All of your customers are going to become something else. And you have to help them. Because God knows they're utterly clueless. I mean, the telecom industry is notorious for this. You know, they are cash cows. They make lots of money. They have traditional structures. They have the stock markets. You just keep repeating. But look at companies that don't do this. Like Amazon, right? This is Amazon Go. It's a service where you just walk in and you walk out with what you want to buy and you don't pay in the sense of stopping, right? It's all done to the mobile. Alexa is the same thing. I mean, if this becomes normal, people will call their doctor on Alexa. They'll book tickets on Alexa. They'll look up the reports on Alexa. They're gonna stop using the computer. I mean, this is, Airbnb has actually a product called Experience. And I used it here in Lisbon to go up the river. I booked a trip with the guy that had a boat using Airbnb Experiences. So the bar here on the right shows you where it's going, right? Away from products and services to experience and transformation. You're changing what your customer is up to and this is where you need to be, right? Moving up the food chain, right? Like this. So can you think of products that go beyond services? Right now you're making services and products, right? Can you think of experiences? Because, you know, you never leave an experience if it's good, right? You can't substitute experience. You can substitute products. You can watch this on the internet on YouTube, but this is Mercedes-Benz called Advance, okay? This is the van that drives itself. It still has a driver, but it's loaded by a robot. It has drones on top. It has bots coming out the back for the liver, right? And the biggest shift is that the customer doesn't buy the van. The customer pays a piece of the job to Mercedes-Benz. Now, that's talking about a bold idea here, right? That is a true experience because if this works, the customer would never go anywhere else, ever. That's the kind of idea that we have to have about software, right? Following what I call the mega shift, so I'll give you a brief rundown of this. It's chapter three in my book. I do have two of them here, I'll show you later, but basically what's happening is that the world is not just digitizing. It's also automating, becoming smart, using data. I call this the mega shift and I'll drill a little bit into this because I think it's worth looking at. The future of software is this, right? Augmentation, virtualization, automation, robotization. Has lots and lots of things happening, for example, smart ports, right? I mean, a lot of these jobs will be done with one-tenth of people, maybe even 100s of people. Then, of course, new jobs will be created because of this, like the smart city. It is estimated that the smart city, like logistics and driving, can save up to 50% of energy and create many, many, many new jobs and old ones, like drivers and train operators, go away, right? Huge shifts of what's happening here. Then I want to talk to you about ethics. You know, we're living in a world of technology where technology is everywhere. And sometimes it's quite scary, right? Because you become dependent on technology. Like you can't do anything without it. So, I call this the hell then, hell and heaven. Technology can be fantastic or it can be terrible. For example, social media, right? It's fantastic that we can talk to each other. That's not so great if we can be tracked. If we can talk on WhatsApp for free, that's fantastic. But if they analyze all of my speaking and then put profile on me or give that to the police without a reason, that's not so good. The Turkish people use social media to connect and then Erdogan came up, the president, and put people to jail that he found out that connected and talked about what he was doing. Can we go both ways? So, very important if you're in tech, the question in roughly five to seven years will no longer be about how you do something, but why. That's the key question. Today you're saying, does it work? How much does it cost? That's kind of the if question. But in five to eight years it's going to be about why are we doing this? Why are we automating this? Why are we using this technology? Is there a better way of doing it? Take Facebook. Facebook is the most sophisticated addiction engine ever built. Because we post stuff and then we have a like, we feel great and then we get another like, we feel greater. Most of you have probably already dropped out of Facebook. You know, Facebook is essentially artificial intelligence that mines our data. And the recent things have shown what's happening on Facebook. So it's a great comment on this, from this Supreme Court judge who says, ethics is known the difference between what you have a right to do and what is the right thing to do. Facebook makes a great example for this because Facebook and Zuckerberg weren't criminals for making this world, for enabling it, right? They weren't hacked. The system was used as it was designed. But they are ethically responsible, I think. I quit Facebook three weeks ago after 10 years or whatever since pretty much the first day. It took me a long time to decide this about three years, you know, because I lost about 50% of my traffic. I'm sure you're familiar with that, right? Facebook has become infrastructure. We have to think about what this means. How far do we go? I mean, if you should have kids or if you have kids, you go, this is a decision you make every day, right? I mean, picture this for a second, you know, I travel a lot and when I sit in the airplane, I see a lot of parents with their little kids, you know, four-year-olds and they use in the iPad the entire time, like three hours the four-year-old is playing on the iPad to keep quiet, right? I'm sure you're familiar with that. Imagine what that tells the brain of a four-year-old, right? Is there any way to occupy myself without the screen, right? Can I actually still play with the person? I mean, what does it do for us when we think about where this is going? So Steve Jobs was famous for saying that we should pursue the magic and technology. Right? Rest in peace. You know, every second sentence he talked about in his presentations were magic, this magic, and he was right, right? Magic, iPhone, magic, whatever, right? So now Google has come up with an interesting magic that was mentioned earlier, right? Google has invented a intelligent assistant that can call people for you. Not in Portuguese, I don't think, but that's coming soon. It's called Google Duplex, okay? And here's what it does. I'll show you really what it means, you know. I don't really know whether to laugh or to cry, but I'll show it to you. I am? I'm looking for something on May 3rd. So are you giving me war or something? Mm-hmm. So that was a fake person, sound like a totally real person, make a phone call. It does sound fake. So another example that's not from Google, must be sure, right? Is how, what else could you do with this? Hello. Hi, can I talk to Diane? Speaking. Hi, Diane. I'm calling on behalf of John to schedule an appointment. For what? The appointment for you to come pick up your belongings from John's apartment. Excuse me? John would like you to remove your belongings from his apartment. What are you talking about? I'm very sorry, but John has decided to end your relationship. So yes, I mean, this is where you wonder like, okay, it could be heaven, it could be hell. Is it magic or is it toxic? Right? Is it poison? And this is the thing about technology. When you invent something really cool, it could be magic or it could be poison. Not for all of technology, right? This is something we have to think about. For example, in marketing, right? Do you build a better mousetrap using AI? That's what customers want. I mean, Cambridge Analytica didn't do that many different things than many other companies are doing the same thing, right? They're bankrupt now. Or at least TSL, they're still around, right? But we have to think about this. I mean, think about this. Everything that we know in life is going to move to the cloud. Our music, our songs, our books, they're already there, our emails, everything else, but very soon our healthcare records, our DNA, our driving records, your smartphone, everything. That's where it's going. And that is usually efficient and has many positive things, right? But we have to be able to trust what the cloud does. So the CEO of MTN, the South African Telecom, he says, as we move into this space of digital and data, it's all going to be about trust. It's not just going to be about the tech. It's going to be who you can trust and why you trust them and what is your branch. So here's our friend Zuckerberg in Washington at the hearing. And the funny thing when, if you watched this thing when he spoke in Congress, it wasn't that Mark was stupid or looked like a robot, he did, but it was that nobody in Congress had the right questions. And he basically didn't get the answer any. So I think technology is now at that point where many of the leaders will need to find a license to operate. I need to find a way of saying, no, Mark is talking about this a lot now. But just today was another announcement that Chinese mobile phone companies have gotten your data from Facebook. So if you log in and you use a Huawei device, they have your data. So I decided to put it in the garbage and delete Facebook. Because I think this is where we're going. I think it's going to be very important. The past internet is about data mining. Many of us are pretty good data miners. That's what programmers do, right? But the future is about this, data mining with a Y. Making sure I have control of the GDPR, which just went into effect right at the Privacy Act. I'm sure you know, but there's a huge pain, right? I lost 50% of my subscribers because cleaning up of the GDPR. But it's very important. It should not be opt out, it should be opt in. So when people use my data, I can opt in or I can not opt in. That is crucial. I think if you go down this road and you're showing your clients how important it is to get people to own their data, you'll go further. This business model, building a mousetrap using intelligent machines, that's not a good idea. What you want to do is you want to enable the customer to have a better experience using this. That's not the same thing. So it's very important to think about this. Ultimately it's like this, right? What matters in our lives? It's not machines, it's not algorithms, it's relationships. Machines don't do relationships. Machines don't understand relationships. Machines don't understand emotions. I mean, they may be able to diagnose it, obviously, right? But they don't know what it feels like. I mean, have you ever asked a machine what do you feel like? You're gonna say, well, make an analysis of my feelings, yes, but they don't exist. It's very important to keep this in mind, our customers are not algorithms, the consumer isn't a machine, our bodies aren't hardware. So it's very important to keep this in mind when we think about where we're going with this, right? Are you worried about your job? I can't tell you how many people are worried about their job today, right? And why is that? Because, allegedly, computer will take your job. A robot, an AI, in telecom, it is estimated 80% of telecom network maintenance will be automated. 80%. That's what telecom engineers do today. What new jobs will there be? I mean, this is clearly our future. Interfacing with machines. You do that every day today, right? But wait until they get actually smart, right? And you can speak to them. That's five years away. I think that's actually good news, except for that it kind of feels like we're not gonna really be in charge there, right? So the bottom line is this, everything that can will be automated. Basically, the machine will learn every possible routine, bookkeeping, accounting, financial advice, driving a car, flying an airplane, sitting behind the teller. But here's the thing, what the machine cannot do is anything that cannot be digital. Anything it has to do with us. That's how we feel, how we look at people, how we imagine the future. You know, I went to one of the providers of the biggest AI in the world the other day in New York City and I spoke to the machine and I asked the machine about what's the future of Europe, right? And the machine gave me a 10 minute tech talk. Like me, right? But better. And it was interesting, but then I asked the machine, tell me about the United States of Europe, you know, it's a concept, right? Silence. And then it said, command not understood. The machine doesn't have imagination. It can't imagine what the United States of Europe would be. It could do everything else. So if you have kids, you're going to have kids, this is the jobs of the future. At the right brain, imagination, creativity, design, all the things, you know, you could see this here on the Economist chart, right? Everything that's routine is going away because machines are learning it and everything that's non-routine is going up. That includes plumbers, electricians, artists, cooks, therapists, dancers, priests, you know, non-routine and cognitive. But if you're doing a routine programming job, the machine will learn it. They are already learning it. So developing new skills on top of that is important. This is very good news because I think the end of routine does not mean the end of work. It just means that we're going to move up. And we have to learn that, you know, this is partly what we call the EQ, right? The emotional accotient of what we are. That's going to be very important. So I'll give you some takeaways and then we'll take some questions. So the future really is awesome humans to use a good old American word, right? On top of amazing technology. The future is not about technology. I mean, obviously there is no future without technology, technology is everywhere, right? But technology is not the purpose of our lives, at least not mine. But you think about this for a second here, we're going to be able to become different using technology within reason, I think, right? And create new values, that's quite a mission. So certainly our kids have to know how to understand technology, but they also have to know how to be human. Because just understanding technology, I think that will be difficult in the future. You know, you can say this many times, you know, it's still when you talk to people, culture and humanity eat technology for breakfast. The reason that people buy things is not because of tech. The reason you love your husband or your wife is not because they're efficient. The reason you buy something is not because you use logic. It's not at all. This is why we do stuff, it's called perma, right? And psychology, positivity, engagement, relationships, meaning, this is why you have customers. Customers will hate you if you're not efficient. They will hate you if things go wrong. But in the end, this is what they want from you. Relationships, meaning, help, purpose. So my final say on this would be, I think we need to embrace technology, there's no doubt about that, right? After all, you're a software company, right? But don't become it. Because when you become technology, your value goes zero. Because technology is a commodity in the end. It's very important to remember, only the combination of the two ultimately will win the day. So I wanna end with a saying of David Bowie, one of my musical mentors when I was a musician, who said in the 80s, the future belongs to those that can hear it coming. I think this is very important. The more you can hear the future coming, the more you'll be able to react and come up with new ideas. And that's really all it takes. Thanks very much for listening.