 Good afternoon. We're going now to start Welcome everyone. It's a pleasure for me to be sitting here with All of you and all of you. My name is Andrea Bernal. I'm a journalist and I work for RCN News in Colombia and NTN 24 in Latin America What brings us together is the fourth industrial revolution and I want to just Make a little bit of context to that The first industrial revolution use water and steam power to mechanize production The second use electric power to create mass production. The third use electronics and information technology to automate production now a fourth revolution that is building on this third the digital revolution that has been occurring since the middle of the last century and is characterized by a Fusion of technologies that is blurring the lines between the physical the digital and biological spheres close shop professor Shaw in his publication the fourth industrial revolution states that We are at the beginning of a revolution that is changing the way we live The way the way we work the way we relate to each other and what he considers to be the fourth industrial revolution Is unlike anything humankind has experienced before With that powerful statement, I want to introduce my panelists today Brian Gallagher from President chief executive officer United Way worldwide from the United States Claudia Vasquez president and general manager Latin America from CA technologies Colombia Claudia Brian welcome It's also here with us David Luna Sanchez Ministro de tecnologías de la información y las comunicaciones de Colombia David. Bienvenido President of customer success renewables in Latin America sales force Maria welcome and Il de Fonso Guajardo Villarreal secretary of the economy of Mexico Con este lujo de panelistas luxury I have here Want to start with an open question to everyone because We are asking Well, what what is the fourth industrial revolution when it is started it already start how is Latin America ready to embrace it and From your different areas in the phone so I'll start with you How do you define this emerging revolution and what are the principles difference between the third one and What we are expecting Welcome. Thank you Well, first of all one thing that is happening is that when we are you call the world fusion What happened is that different technologies are converging at the same time to transform how we do things And how we respond to the market one of the elements that you are looking into here Is that now the management of big data is giving you information that can be Directly used by the production process and translating the way things interact with each other the internet of things To the sign the new process just in time was part of the third revolution this one the market is the directly Sending signals to the production process You are going out from mass production to specialized markets with high value added which is definitely the challenge But now let me bring a point into this process this morning We have a discussion with a very intelligent group of people one of them the director Colombian director of the American Development Bank and he says what can we do in Latin America to try to see that in the next Really entrepreneurs that are putting new platforms new innovations are called Martinez Sanchez Or with the Spanish last names. I say they are already called Martinez and Sanchez The difference is that capital markets in Latin America are not really financing the bright ideas that are migrating to secretly come Valley by Hispanic entrepreneurs that are being very successful in North American markets So we have to really start taking the challenge and how we can do a good environment in Latin America to support these new talents Maria from your perspective, how do you see this emerging revolution? Principal difference with with computers with technologies with smartphones Well, thank you Andrea. It's really a pleasure to be here Let me say that certainly we at Salesforce feel like we're part, you know of this revolution and it's in the making So it's a very exciting time, you know for all of us in Salesforce. We we build, you know CRM, you know customer relationship management software in the cloud and We have been a pioneer of cloud technologies of which are a key big part of this revolution And with that with that we will course seem tremendous growth that we are we're clearly, you know, very excited about you know for for for the company and With our platform, you know, we're actually capitalizing a lot of these things in particular for us the key element is that we believe we are in the age of the customer and The customer today because there is so much information so much connectivity so much access of things that came from the third revolution that Now the the the customer and the customer being if you're a company It could be the could be the consumer if you're a government is your citizen We all have customers the customer is in power more than ever before To be in charge to demand more from companies and from institutions To deliver a better experience, you know to do a lot more for them So we we think that this is clearly key I mean I talked to a lot of CEOs here in Latin America and I hear come constantly a fear of being Uberized right, you know, I don't I'm I'm afraid that someone in my sector is gonna come Like uber and deliver a much better, you know, user experience for my customers that is going to you know Take advantage of this massive, you know, disruption that technology can create And really, you know change, you know what we are so really for us that is the real key Element of the fourth revolution David from the government How do you see this wave coming and? How are you preparing policies? To redefine this fourth industrial revolution country from what you expected from the third We clearly live in a stage where commodities were the prices of oil were at their best In Latin America and particularly in Colombia. We are living a Different moment in the economy and the boom of the digital economy Therefore is a great opportunity we in the government understand it as going from Consumer internet to production internet and let me answer with the mere example Only a few months ago President Santos administration made the decision of digitizing the digitalizing the Fishing activity in Colombia and the fishermen in different areas of the country do not only have a tablet but also a software that enables them to match the currents and And the climate they therefore Go out to fish Less days and they fish more so we are trying to Really harness these opportunities in different sectors in health in education in tourism in agriculture And that is where we believe there is a great opportunity for the government to Colombia made the decision of Creating a legislation. This was Some years ago already which allows the digital competition to be healthy and to offer guarantees But additional to this President Santos administration made a decision that was criticized at that time but now it is It is a source of congratulation the building of Infrastructure to take on the big challenges and that is where we are going to have a competitive Advantage that we'd like to share with the other members of Latin America Professor Raul Katz only a week ago or a few weeks ago produced a very important Digital economy index and it says that in the finances in health and education Colombia is going along the right path the challenges are in the trade and manufacturing sectors that are surely resisting Joining that digital economy because of idiosyncrasy and that is clearly where we have a huge opportunity to harness and Then we will talk about services Maria mentioned it she mentioned to uber the new apps how the governments are Including all this into their policies And we agree that this fourth industrial revolution has not emerged yet. Do we agree in that first? So if we if it doesn't come yet, we have an opportunity to shape it and that's the interesting part What do we want for the region Claudia? What would you want to see from your business? And then political perspective from others To see in Latin America this fourth revolution. Thank you. Thank you, Andrea Well, yes, I fully agree. It is emerging right now, but I would say I would say that is also a reality today I mean the fourth industrial revolution is already here and it's gonna stay can stay and we need to get ready for it and Understand the challenges and the opportunities we have for Latin America If we think on the fourth industrial revolution, it is all about hyperconnectivity as we were talking being very social But what I think is most important. It is that is center on people So consumer is the center of the industrial revolution And if we check or if we review what has been already done with for example uber and others We will see that I mean the ideas came from consumers because we need to understand what they need And if we think in Latin America, we have several companies that already understand that they need to listen to the consumers And in some cases they do the problem we have right now is we don't Don't go fast and don't execute in what needs to be done to transform those requests or demands into real solutions right now So that is what we need to be thinking now We need to build an agile society for Latin America Based it in our perspective because the technologies is a fact if a software company So we need to build it based it on agile systems and agile technologies And agile is a major word right now because if it is it is key to eliminate the barriers between ideas and results So we need to be thinking agile for latin We need to be ready to take the risk and understand It brings a world of opportunities for LA I think no less knowledge sharing is probably the most important characteristic of the first industrial revolution and and it brings a difference because everyone is able today to access information fast and in a With with quality Something that in the past what was not possible in in our countries for everyone So that's something we need to take seriously in latin Brian professor show on his publication. I want to cite him again He says anything humankind has experienced before and and I see it so powerful because yes It's emerging but as Claudia says it's here then what changes Should these new technologies and systems bring to the region? But what do we not want to be changed? What what should stay the same what has worked in the region? Well, let me Maybe turn the second question around to say I've learned I've been doing this work long enough to say Wanting things not to change doesn't work The fact is the two biggest drivers in our world Raising money for human services and then and then deciding where to invest in human services right now in the world are the movement of people There's more people living outside their country of birth and anytime in the history of the world and the second is digital technology In the advancement of digital technology and the way I think about it is digital technology among other things Moves us from being a vertical society and a centralized society to a horizontal and decentralized society So if you're thinking about customers or voters or people who need services from nonprofit organizations It's it's you don't need the middleman So I I've made this Analogy before that didn't always some elected officials didn't like it, but I think it's a powerful analogy In addition to business representative democracy the idea was a vertical Value chain that I would elect my Local representative who would go to the next level of government and represent my interests Well, maybe yes, maybe no, maybe I can instead using Technology associate with people who might have the same point of view and we'll go around our local elected officials to go to the top So so I would say this for the region investment in education especially early childhood education and Creating access to technology That's what will create the the competitive advantage for the region going forward I think that Brian is right in his example when he uses the example of Representation I think that what we are looking in the US election is exactly Customers going directly to what they mean is the best solution exactly right You know what they're not always right It doesn't mean they're right You talk Brian and I want to translate this question to the phone so about a vertical Society do you mean also about? More or less inequality inequality Do you talk about that also when you mean a vertical society because I want to enter there The possible impacts that we have already with the third revolution and we what we see now That he has yield greater inequality in in some places in some places in you know globalization and In computerization Technology has created it's lifted hundreds of millions of people out of abject poverty It's created inequality in some developed markets for sure like the US and and other places but I but I think again if we it was disruptive for sure and This technology I think has the the very likely possibility of being even more disruptive and so that's why I'll just say and to President Santos and the Colombian leadership Providing or guaranteeing Universal access for early childhood education throughout the country is the smartest investment a government can make a Child's brain will be eighty five develop eighty five percent developed by age three and so if in a in a in the fourth Industrial revolution Value is going to be created by ideas and knowledge and if you start early and then keep children in school and then Graduate from university that will be your advantage. That's how you deal with inequality. I think I think that the question of Liking and inequality is even in the historical terms the first and second industrial revolution It's required a catch-up of nations that took a hundred years I mean after the English Industrial revolution some underdeveloped countries have taken for a long time to catch up one of the challenges and the advantages that this Technological breakthrough brings is the possibility that Latin American countries if they have the right set of policies The catch-up time can be shortened and the way you can use technology technologies themselves to really try to close the gap Through investment in education in the case of Mexico with educational reform Obviously, it is very clear in Mexico the quality of education is differential even the public sector I was born in the north. I'm the result of public education of my life if I had been born in the state of Oaxaca I will not have been I could not be where I am today because of the difference in quality given the difference in the interaction of the unions so Preserving education and the right to a good quality education is fundamental now. Let me let me go back to your question about the responsibility of governments We cannot fool ourselves In order to really have access to the fourth industrial revolution we have to go to do homeworks that are elemental Markets have to work therefore a very strong antitrust law has to be in place if they are Concentrations like in the case of Mexico there were concentrations in telecommunications Access to internet and access to competitive technologies is not there and therefore innovation is not part of the system So you have to have strong Antitrust laws you have very strong laws that really make Financial markets to work because again if you don't have financing for bright ideas There is nothing to be really looking forward in terms of the brains that we are developing in our continent There are for even regulation trying to simplify the way we regulate business. It's a fundamental thing I mean in Mexico just to give you an example for the first time in Mexican history this year Finally we approve a law that you can create a business from your computer without going to a public office for small and medium-sized entrepreneurs so far that you can Just use your computer open your business Satisfy the requirements that are in line. You don't have to pay like they used to a public notary About five hundred dollars which will make it impossible for a young entrepreneur to open a business So to facilitate life to create competitive markets is a fundamental homework That governments have to do to really be ready to launch any new initiative Maria, but yes David and then I'll talk with Maria A very important thing regarding what has been said while in Latin America the Venture risk capitals invest in startups Invest 15 dollars per capita. They were investing between four hundred and five hundred and in Israel They invest more than eight hundred dollars per capita. What does that mean? It means that we evidently as a region have an opportunity first of all to call the attention of the Business community that is why in the case of Columbia the government is Trying hard to invest an important part of the GDP in research our director of conscientious is here and it is The hard work between the private sector the public sector and of course the academia is very important because the idea is that technology and research big data may be developed into Training Processes and this hand-in-hand with a problem that exists not only in this continent But in the rest of the world and it is that the new generations do not want to go to school for technology associated careers IT software computing and The biggest challenge is not only not to get them to fall in love with technology again But to get them to understand that there is a huge opportunity for them from the structural point of view I mentioned this basically because for the government the joint work with the private sector in Education in research is and key piece in order to set a goal Regarding the digitalization of the economy and and how to Again lack of opportunities universities are not ready for for that for Putting in on the table those kinds of careers It's a process. It's a process we work on a permanent basis with the Universities to get them to modify their syllabus is many times They are obsolete to outdated. We work with the schools. We work with the students But as you were well saying we have a huge challenge in math in Science in those types of initiatives because we can live in a digital economy We may have the public funds and resources But if the talent the skill is not well trained from the base in order to take on that challenge We will be left behind and That is where the big opportunity lies. I Mean we all have a responsibility I mean private sector and public sector in order to make sure that young people understand that Then it today is more than development because people used to relate it with development only and the reality is Today it is an enabler and it goes directly to the business and it's Responsible for time to market reduction for increasing customer loyalty and many other important things So we need to work and rebrand the way we sell this to our young people because They keep forgetting that and and also we need to make everyone understand that in the second Uncertain industrial revolution People needed to be physically there in order to perform a job today with the force industrial revolution You don't need to be there. You can do the same work remotely without any issue because any again technology enables that So it is very important for us to work together on it Brian and then we jump to another I'd say very quickly this this point about how There's a lag in terms of the social response to Economic transformation absolutely true always happened after industrialization the computer age I think the difference today is we don't have the luxury of time that the business cycles are so fast the media cycles so fast that So we could take a hundred years after industrialization to figure out how to close the inequality gap and The computer age 20 years to close the and we don't have that luxury anymore And so our education systems and our health care systems and our public systems and nonprofit systems need to Embrace the digital technology and this and this This technology generally and that's going to create Significant change that the inertia within institutions will resist You know individual learning on behalf of students as young as primary school instead of a Regimented curriculum that is taught vertically It's not it'll be too slow because the world's moving so much faster today Murray is this for industrial revolution for a few why I ask this because Today those who have gained the most from the digital area Have been consumers that have been able to afford it and access to it If yes, if you agree with that Do you think what do you think should be done to add other segments of the population? So they do not get excluded. I just half of the population of Latin America still do not have access to Internet So and now we are talking about a fourth industrial revolution. So it's about a few Yeah, well, I think that that we clearly I mean there's got to be the commitment. It's got to be that Digital technologies need to be available to everyone And I actually believe that there are a lot of things happening and there are good indicators that are showing that That we're making progress. I mean, I was very Encouraged by the comments from President Santos this morning and I know a lot of commitments from, you know, Brazil and Mexico about About you know making digital technologies available making internet available. I mean, I've I've understand that even by Next year is likely that 75% of all the households in Latin America will have internet We're seeing growth in Latin America faster in adoptions of certain technologies Like including public cloud, you know services actually on America is growing faster that even that even Europe and Asia So I think that this region has a has a good opportunity to leap frog You know, some of the the legacy investments that have made and as you said, I mean a point I want to emphasize is that it's not only for consumers it's got to be for for for for the businesses and Many businesses have invested over the years on legacy systems, right? They spend a lot of money on them To replace business processes and they they you know, we all realize good efficiencies But the currents the current legacy systems are not ready to really capitalize on The the age of the customer really right they are built for the last, you know industrial revolution And they need to be modernized and the the businesses that that invest in modernizing are going to be the ones That are going to be able to compete and win and I know that you know We always talk about that this region has economic challenges But if you think about it, I My view is that every business needs to plan to invest in these areas Otherwise, they're going to be left behind in the phone. So yeah because I think that your question goes to the point of winners and losers of change and I think it's very relevant because it's Giving us a question about sustainability of change and if you will look at what is going on in the United States There is a big chunk of population that was raised up to believe of a permanent job in their lifetime in the Manufacturing sector and all of the sudden there is a very big demographic White Anglo-Saxon middle-aged men that feel that the system has not been good to them And here you have a lot of jobs because of technological development and the winners are in the regional area But they are by definition entrepreneurs Individualists, but then the 20th century was built on corporate behavior Unions chambers and there is this clash of two generations Where I think that governments has that they have a big responsibility on how to make these Benefits of change really be widespread in society Because if that does not happen Then the obstacles for change are going to be there and we have to be very aware of that in the phone So you touch the next topic Employment in this fourth industrial revolution is sick exists the risk that Automation will be substituting hand labor which derive to the loss of employment. That's one of the fears of the industry of this fourth industrial revolution the loss of employment is The private in your case public sector governments prepare for that How would you be assuming this challenge that that is in a way a fact? Yes, I mean in the book that you were referring to by dr. Schwab's Two-thirds of the kids in primary school today will have jobs that do not exist And that's the challenge for public policies how to do skills That will need to prepare the unit generation for new challenges so if you look at the US case when you This this this disintegrate the value of a smartphone and when you Claim that a lot of jobs have gone to China When you see the value of a smartphone at the end of the day is the sign is technology is value added and 80% of that value is paid in the US So the high pay value jobs in technology have to be really widespread and you have to really disseminate These new challenges the other day. I was talking to former mayor of New York Blumber and he was he was saying we we cannot resist change things are going to happen, but we have to Vision is how we are going to respond to new quality to new jobs to increase the quality of life How can you do really expand the service sector to accommodate new needs of a generation? That is in a different stage of quality of life So we have to have enough capacity to widespread the new trend in services to give human race Better quality of life We don't have to be tied to the machine to the to product to the production line to really expect the creation of more Jobs in the traditional way there are new jobs to be developed to increase quality of life jobs that do not exist that like says Elefonso Maria or jobs that they're there or they're not going to be jobs No, I think I mean I think that there are going to be a lot of jobs There are the jobs we need To upskill the workforce basically right so if you think about I mean we've gone through transitions like that You know in the past, you know in the 1900s in the US 40% of the workforce was working in agriculture And today is less than 2% and it's not that that is not an industry that is not successful for the US Right, so I think we need to think about the jobs that are going to be needed in the future and prepare the workforce For the for the jobs of the future, which are going to be higher skills today I can tell you that one of the one of the obstacles for growth For us in sales force is is access to talent today. So there's jobs today But there's a mismatch, you know between People that don't have jobs and and jobs that that are needed You're gonna kick I think that to answer your question There is a very complex problem that we are going to have to solve between all of us Which is the rigidity of the academic system the academic system has had enormous difficulty to certify skills to certify capacities to certify many enablers that hundreds of Millions of people possessed today, but That they are unable to put into practice to sell in the marketplace a few days ago our minister of education Made the decision to to start to to find ways to start to certify those existing skills that the traditional Educational system had never been able to I'm not Saying that this is the only a step that needs to be taken, but it's a very interesting Option because the industry especially the industry associated to technology to communications is constantly requesting talent not only trained talent, but also people who have very specific skills and oftentimes colleges and universities and Entrepreneurship centers or training centers are not sufficiently Don't have the capacity to deliver these two industries So so it's a problem that can become an opportunity and this morning president Santos said that the Chinese are Always always look for the opportunity hidden in the crisis And I think that in Latin America. We have a great opportunity That is posed by the very problem that you suggest which is that the the digital economy or the new era will likely destroy many jobs But it will also be ready to create new ones if we are able from the government and from the academia to To deliver those capacities that are currently required and that that already exists to need to be certified You know, I think nobody knows whether this new Revolution is going to create more jobs and kill but it's going to change them and The story in the United States is the story in France in Japan in the UK It's the it's the carving out of the middle class And it's not that there isn't then there aren't jobs and that there isn't even GDP growth But personal income on an average has not increased in the United States for 30 years And so the the the fact is that the The disruption has been faster than the education systems and the employers have been to recreate the you know The the inclusive solution So that I think what we have to be wary of is not the concentration of wealth You know, I I rail against that when people so people will say to me well, you work in nonprofit You must not like concentration of wealth. I love a strong marketplace. I love rich people as long as it's not a concentration of power and access because then that you know So populist policy is different than people-centered policy and and that's what has to change faster There's The fact is our education systems and other systems are going to have to create access what's lost in America today Is mobility? not And I'll tell you it goes all the way and we don't have leadership in the United States It's willing to take on fundamental tax reform take on immigration take on Adaptation you know adaptation at a big scale and unless leaders do that. It doesn't matter what? Companies and nonprofits do that's I think the story of the US right now Now I want to go back to David to talk about the Colombian case I know that Mexico and Uruguay Uruguay has a new legislation But what I'm heading at is that this fourth industrial revolution is moving faster than any of the previous ones like a couple of you Have said and we very well know that governments take time to make decisions to draft legislation and to in fact change things And I want to know how David in Colombia and we'll talk about Mexico later because President Tabarebas in Uruguay has said that we need to regulate Netflix or B&B uber Just to mention a few apps that in Latin America have so many governments sort of out of sorts and They've been unable to regulate them on the one hand that and they are moving toward Prohibition almost so how does that look when governments are trying to close the doors to things that as Brian says are already here Technology goes a lot faster than legislation. We agree on that and That is not only proven but doubly proven Isn't there a way to allow them to to go roughly at the same pace? Can't we lend a hand to legislators? Well, I don't know if there is a way, but President Santos points out that the marketplace as much as necessary Oh, rather the marketplace as much as possible in the state as much as necessary that has a Very clear Meaning which is that the focus must be the citizen must be service It must be whatever benefits are everyday lives and like many other countries We are immersed in immense debates and these debates obviously end up Resolving themselves in so far as citizens have the possibility not only to choose the best service But where the industry has you know companies have the capacity to compete among them so what governments in our case are Constantly told is that we shouldn't regulate more but deregulate We should offer the possibility for companies to play in a level playing field Many people here And one that may not be here that you know better than us is the case of television in the case of television There are still these old legacy legislations that have been updated for a long time So beyond the question of whether or not to tax Netflix. We need to rethink the system How can we make them compete in on an equal footing? and for that reason Governments at least in the case of Colombia The decisions that the government makes are in fact aiming to always protect the consumer to protect the user obviously without Causing harm or Or legal insecurity to investors and entrepreneurs Is Netflix or to Uber that means that the governments were not ready for that I mean they came in consumers need it and now they don't know what to do with that. I Think I mean There really is regulations need to be able to to allow the users to be to feel secure and But what is very important for governments in my opinion is to understand that there are many different types of consumers today, I mean We will always have consumers that will prefer to take a cap on the street But then you have another type of consumers that are Thinking about risk and if they are thinking about risk They would prefer to pay a differential price in order to get what gets them home in the way they they want it So so in my opinion it is it is a matter of understanding that with the technology we have today There's no way stopping there. There's no way to stop in that. I mean that that is not going to stop and And as I said technology Enables that and what we need to do is to make sure that it is done in a secure way for consumers And that governments Resync the way we apply regulations today in order to allow that is the business to be located in the In this segment it wants to be located Let me Brian had a Had a phrase that this is a lovely one It's not the same populist policies than people center policies with that. I can forecast your vote in the US election But let me let me go back specifically To the point about Innovation and the way markets evolve and the way public sector reacts. I do believe that I agree with David I think that I mean you cannot go against the wave once uber B&B Appeared what you have to do is how do you? disrupt the traditional corporate destructor of taxi drivers and The supply of of rooms in the in the hotel Market because you have to respond with a way to Regulate the way of usual business of business as usual and really allow them to compete with the new wave of new business Platforms that you have to allow them to compete what is happening today Is we have a resistance and there there is this corporate interest that is fighting against the innovation But you have to facilitate the process in which they can coexist and the way they really can can live together Because otherwise you will not have a Stable system to cooperate in this in this regard But at the same time I do believe that the public sector has the big Responsibility of design the legal framework and the regulatory framework that will facilitate things to happen resistance You cannot avoid the wave of change Almost an hour has gone through I have like 15 or around 10 minutes for Q&A's from the audience But I want to finish really fast with a conclusion with your perspective. Let's start with you and finish with Brian What is humanity facing and what are the risks and opportunities one risk one opportunity? I Do believe that Humanity is facing the opportunity to really take advantage of an exponential change that can bring benefit to human beings I think that by the implementing in the most Practical way what is happening and trying to give social sustainability of change is important the risk the big risk The we are going through very trouble waters I do believe that there is a big portions of the world population that are in satisfied with results They are challenging the systems. They are challenging governments and institutions Spain has been struggling for a year to get the presidency Austria is going through very rough times in a very conflict Political definition Brazil ousted a president the US is going to one of the most complex elections in history So you go around the world and there is very bad. There is very bad social humor around the world So there is a big challenge how to respond to that feeling and people have Causes why they feel like they feel but you have to be able to really respond with new instruments to really Satisfy what people is demanding today Maria risk and opportunities. Well, I think we have an amazing opportunity to Embrace, you know the age of the customer And I think that they are they are made and they have the amazing change that is happening I think it's going to take for the government and the and the companies to work together in collaboration around topics like education infrastructure and upgrades and being ready and I think that they they The groups of the countries the cities that embrace these opportunities are the ones that are going to really be able to Capitalize and clearly that the digital technologies provide the opportunity for really reaching out You know every citizen if we can address education and infrastructure issues Joe I think that the biggest risk is that of Creating confidence in the consumer and what do I mean by this? I mean that consumers have to be at ease. They have to be confident that the changes are Still safe that they can sleep in peace and Countries in Latin America and all over the world have to strong work strongly in their digital safety and digital security Public policies because otherwise. Yes We are facing a great opportunity, but very few people Will believe in it and we may miss the train So that risk and that is how I see the risk becomes in turn into an opportunity and we have the responsibility to provide to the private sector from the public sector and for Consumers the possibility of creating an outlook that is safe and that is alert to dangers An answer from an enterprise perspective I think the biggest risk for companies today is in Latin America is not to understand fast enough That they need to change and that they need to be innovative and really start understanding the new way of thinking of the consumers and It is a quite an opportunity for them to adopt new technologies like DevOps and agile Methodologies to really start delivering new businesses to cause to consumers And I think Latin can be can be can set the pace on that on that globally if we really start doing it right I think the I think the great opportunity is that we're moving into the era of the individual So as a as an enterprise you would say era of the customer I think it's era of the individual which brings down cost and barrier as relates to opportunity And so that's a very good thing The other thing it does and it this goes to the risk is that everything is global and everything is instantaneous Everyone has access to the same information by and large at the same time and and the big risk is that our institutions And I'm not just talking about governments, but all institutions will be too slow to change to either regulate monitor provide security whatever it is because The world in this era of individuals going to go much faster than we go privacy another fear There's a there are some tweets people have been tweeting if you if you help me with the tweets Maybe we can cite some of them Before entering the questions there you go Governments have to create more equality in education to be to ensure for evolution benefits everyone Then Stephanie with with the foreign industrial revolution increases in equality in the region But we were talking or can make growth more inclusive. That's a question sales force. Maria Martinez says the CEOs at We are all who you see that are all scared of being Uberized so where are the Latin American Ubers some of the people that have been tweeting? Thanks a lot We're gonna start ten minutes of Q&A's. Please sir. Can we start here? Very very brief and please ask a question Okay, good question and to whom yes, this is to either font so the Alfonso There are many ecosystems in different countries in Latin America focus on technology No, in which we have more than I would say a hundred companies that are being developed in the different countries that we talked about But it is possible to have a multi national Sovereign fund that would invest in technology companies So because you mentioned that the capital markets are not there to foster this growth So can you create like a pan-regional initiative to foster this growth similar to what's happened with the Pan-Pacific alliance. Yes. Well, I have news for you. It is the case of Alianza Pacifico We are creating a fund between Colombia Chile Peruvian Mexico to really encourage and share risk in venture They're like a venture capital. It is not a big chunk. I mean, we are starting with Mexico has already put his chair He's we are starting with something like a hundred million pesos from the Mexican side Obviously, it's just the beginning of it and the idea is to use Alianza Pacifico has a Launching board to really promote risk capital for for venture initiatives in the in the region Another question. I saw someone from here. Oh, please. Thanks Gracias. Thank you. This is a question for Minister Luna minister If we look at the rest of our lives today, maybe the the slowest day of our lives in terms of technological change If we compare it to tomorrow and the day after tomorrow Education and the law go behind the speed of technology that is true but there are some things that are in the Constitution that have nothing to do with free competition such as Copyright law the right to one's good name and a series of laws that should have Nothing to do with the medium traditional print media is is is forced to to to To subject itself to a series of behaviors and limits that other media don't That's a very important question. What is the government going to do is the question and This is part of a debate that I think has ceased in many other latitudes. Look at the recent Ruling but I are constitutional court about the right to be forgotten which refers closely to the right to one's good name and the need in that constitutional ruling For a publishing house through the internet to remove some information from its portals after the Judicial ruling so what does the government do the government clearly writes in a rather Clearly works on the constitutional rights and it enforces constitutional rights and it protects constitutional rights Now the democratic debate In social media or through other platforms has its pros and cons and the in our case we see That we're not only part of that democratic debate But we also allow it we tolerate every criticism because we feel that any criticism is is is Has a right to to be there however individuals also have a right To enforce their constitutional rights They should not only be protected but supported by by the government back there Thanks, and then dessert Good afternoon a question open to the to the panel I'd like to ask you how can we rethink the digital gap knowing that we are going from not Connectivity but appropriation and how do we make it so that this new gap doesn't consume whole societies and whole organizations? I mean digital transformation It's always it's also a process. I mean And it's not just connectivity is not is is is everything, you know about Getting to understand What is possible with what we have today, but also be able to to introduce new technologies? So I think that is very important because it goes to any enterprise level and any person So right now in my opinion is is not about who owns the information or Owns the process is about how can you make it work? How can you enable that process to be available to everyone or to whom who is in need of it? So so yes, it could be a challenge But right now is more an opportunity for individuals and organizations to take advantage of it I think it's I agree. I think it's all about distribution and access and including distribution so access is a philosophy distribution is a tactic and so distribution through commercial companies through schools through NGOs through local government that use the distribution methods that get to everybody rule urban rich poor and and then laws and Regulation and incentive government incentive that make it affordable for companies to create that kind of distribution I think is the way you avoid the divide Sir Can you help me with this? Thanks Yes Yes, I have a question One of the biggest impacts of the fourth revolution is the disruption in business models I think that there is a an element that is being disrupted which are Borders national borders as we know them today. So one of my main questions would be in addition to borders The business model of the national state financed with taxes in their local operations so the dissolution of borders and the impact on businesses the biggest victim is Governments who have a business model that is fiscal and then based on tax collection So how are governments going to fund themselves or how do states look at the disruption of their entire fiscal model to? finance themselves in a world that that will be practically borderless This question has two parameters I would say what is happening today in the digital world has influenced the designed an architecture of international commercial treaties in the case of Mexico 15 When we 20 years ago when we signed or 25 years ago when we signed the the NAFTA it didn't have an electronic commerce Clause we've just signed the the Asia-Pacific FTA and it clearly has an e-trade component and the fiscal question is very relevant because every state is facing this challenge And is trying to address it now what happens for example with the uber system that the earnings margin that occurs with Mexican value added isn't paying taxes in Mexican Land and that should be part of a negotiation process with the suppliers and with the platforms in order to be able to anchor and to prevent precisely the fact that That that the value can't be reinvested in the society that creates it so in this case The driver is within the system the driver that provides the service. However The great earnings of the platform aren't part of the system that needs to be relocated no question And this is in the interest of the community that is creating the wealth Hello Leandro Machado from Brazil and well Our democracies are at risk under pressure, but our political leaders Aren't yet part of this discussion How do as a society? How do we bring them in to this discussion? Should we send them an uber or what? Individuals people are gonna bring them to the discussion that the force them for sometimes but but really Forward-looking political leaders two of them on the stage today earlier Will embrace that those that don't embrace it will be forced into the conversation because because there's no There's no protection vertically anymore goes horizontally, and then it goes to the top. It'll be forced Will you will you say that Bill Clinton had the vision for the internet in the US? I mean he was the one that really embrace Bill Clinton No, no, no it was a question. No, I mean it's but it's Sometimes I just again. I'm so just to be clear. I'm not the only I don't speak for the United States of America Or any political party I'm unaffiliated I'm a political independent I vote both parties most Americans haven't voted yet to be clear The best thing government can do is create a regulatory framework and a protective framework Whether it's internet e-commerce industrialization digital technology that allows predictability for the individual you do that and society will flourish and if you try to control or Maintain power or hold down mobility society at some point sooner or later will rise up against it Last question Time is over, but I'll have the last question They allow me they tell me it's okay. Hello Walter Cohen Maria Martinez from Salesforce mentioned that the enterprises must Change and act now because the fourth industrial revolution is unstoppable If we consider governments as macro enterprises the governments must change now the question is Which governments are the best practices in the world regarding this subject? What are the key elements they have changed so far as to be considered best practices? And which are who are the agents of change or the accelerators that have enabled this government to achieve this best practice place? And you want the answer in one minute? 30 seconds Maybe Maria or David? Yes, Maria. I you know I am I Don't I don't I can't think about one government that I can I think that they're best practices in a lot of governments I think that even here just this week. I've really Heard a lot of real good policies that are being put in place by a lot of governments I think it has to do at the end of the day more It's early right in this revolution So it's I don't think that the winners have established even in the public or commercial sector So I think there's an opportunity for many of us, you know to show leadership I think at the end of the day is all gonna be about leadership and leadership is what's gonna Detect the the the public or private institutions that will take advantage of this revolution Maybe a region not to say governments matter a region that is leading that yeah a region Well, I mean I think that you know, I'm probably biased because the US Yeah, thank you so much. Gracias a todos. Thanks a lot for for attending Brian Claudia David Maria It's been a pleasure to be with all of you today. Gracias a state for assisting muy amable. Gracias