 Yes good morning. It's a great pleasure to be here. What a beautiful place. I don't want to leave Well, you know, I live in Switzerland, which is not bad either Well, so I lived in the US for 17 years I was born in Germany. I live in Switzerland now. So I feel very like Trinational you could say so when I talk about the US later. It's keep in mind with my green cart My comments on the US economy and politics and so on I have a few Comments on society and and technology, you know the last few years when I When I spoke around the world I get this constant question from people a is the future going to be as terrible as it looks Because a lot of people are worried about the future now. I think you can feel that Not not just because of the you you know the US elections led but before that even One major factor is that people are thinking that machines will sort of, you know run everything Reduce our jobs And my view on that is you know the future is better than we think Because we tend to look at technology and get worried when we watch in our X machine now those kind of you know But of course, they're pretty far away from reality. So the book has a provocative title I actually think it's going to be humanity on top of technology and Judging from what we discussed yesterday. That's kind of the consensus in the room It's very important to keep that in mind because you know basically in 10 years Technology will be infinitely powerful If you've I'm sure you have observed the exponential scale, which I'll show you shortly But basically roughly in 10 years machines can do pretty much anything quantum computer computing the possibility of really constant networks the internet of things So it's pretty safe to say, you know what people call the singularity roughly in 10 15 years or so We're going to get to that point to where computers and machines are capable beyond our means and So really what it means, you know when we're looking at devices that we have today These devices here are already our external brain They're our second brain So we keep in here our banking now you're not talking about Bitcoin blockchain. That's that's a few years away in the cloud our music our films our dates if you're so inclined I Mean if we forget the phone numbers of people because they're in here, right and Very soon this machine will be a million times as powerful I mean this this machine right here is as powerful as the mainframe computer that bought us to the moon In terms of processing power So imagine we can connect that directly with the brain computer interface or Augmented reality virtual reality. We will be essentially tethered to this. So this is my job My job is not to predict is to observe And I would maintain if you are the C level executive CIO CTO CEO That's gonna be a big part of your job is to observe what is coming This has very little to do with Nostradamus or Al von Toffler or Ray Coates Weil or Arthur C. Clark It is just a skill to observe what is coming before it's here And this is crucial now because you know things are coming much faster than ever before the German car industry is a great example You know years ago seven years ago. We had a seminar with a bunch of CEOs of a big German car group We're sitting in the room talking about self-driving cars autonomous cars car sharing which is a no-no in Germany We don't share all cars, right? At least we don't And in those days and was seven years ago. We had laughter in the room talking about electric cars autonomous cars car sharing was just laughter ludicrous ideas Today the number one initiative of every car company in Germany is to go towards mobility not selling cars Took only seven years. So seeing that coming is important. Hence. I'd like to say sometimes It's better if we assume less and we discover more Very common problem with my clients. I do a lot of CEO coaching is that they're always looking on the left side into the same funnel that has proven to make money Which is natural of course, right? But we have to have a larger view. We have to look at what becomes possible Because of technology what works because of technology and what will stop working because of technology So hence the book and I think you'll see in the book some of the chapters about what I call the mega shifts and other things So this curve you see many times before the exponential curve. It's an old hat and Moore's law is kind of ending for computing Some people would argue, but the bottom line is, you know, we're not at the takeoff point of this curve With the curve where things that sounded like science fiction are actually becoming science fact Computers will understand language natural language processing. That's pretty close to perfect They can read images They can translate text Artificial intelligence is enabling machines to you know, parentheses think I'll talk about that in a second So we're getting to the point where some of the stuff that we saw in science fiction movies They you know, like Tom Cruise going inside of Minority Report the data. That's actually possible now And the interesting part is that it's not just one thing It's also what I call combinatorial which means that all the stuff that goes on in like 50 areas from 3d printing To cloud computing to quantum machines. They're all influencing each other So it's exponential and combinatorial and interdependent and that's how we shape our businesses now. I Mean if it wasn't for exponential and combinatorial, there would be no Uber no Airbnb There would be no none of the things that didn't work because it didn't work. I Started a company like Spotify And I used to be in the music business. I was a producer and musician and I started a company like Spotify in 2003 and You know needless to say it wasn't working because there was no world cloud to stream from There was no iPhone. So we spent 20 million dollars trying to find out how we can overcome this right and a few years later, then Daniel ack came up and used the theme of my first book music like water to build Spotify and You know Spotify has almost a hundred million paying subscribers today So when the when the circumstances right then it just takes off and it's just completely Natural but you know the bottom line is now where we're going towards a time to where we are increasingly converging with technology And you know, we've come to the wearable computing that's most people are not so crazy about this You know like I don't really like an Apple watch. I'm already way too busy with a mobile so Apple watch doesn't really do it for me But the idea of connecting your brain to the internet what's called the neural ace, you know Elon Musk Where do we stop? So I have one simple question for you. Is this going to make us happy? Are we going to be happy when we connect to the internet directly? When we are transcending humanity as some people would ironically say And what is happiness? Well, that's hard to define in one morning, right, but read the book. It's all in the book But yeah, humanity will change more the next 20 years in the previous 300 years That's not an overstatement. The kids are my kids will live to be an average of a hundred years old They will not know how the driver real car They'll just command it They probably won't know what a book is definitely not what a CD or DVD is I Mean it's already basically true today if you give your kids a CD for Christmas or DVD. They'll call a therapist As you're like hopelessly yesterday, you know Vinyl that's different, you know, that's cool, but so we're entering this world I wouldn't say necessarily the world of science fiction, but this is now almost a reality You know and every policeman wants to have a 3d You know a an Oculus Rift or or HoloLens, you know to see who we are when they pull us over Every doctor wants us every politician wants it, you know, so they can You know better tap into our funds, I suppose, but now we're going into a world where we are essentially, you know Getting unlimited power. I mean, it's a weird thing is that, you know, imagine if for example Imagine for example if If a doctor has a computer Cognitive machine that is able to read all the four thousand three hundred oncology reports a week The doctor is superhuman Or the doctor would feel threatened because the machine is kind of like a human But technology makes us superhuman the work of a thousand people can now be done by one Not always, but we're getting there, right? I mean right today machines are still pretty stupid, right? They they can do some things well and other ones not at all, but you can see where this is going We're teaching the machines how to do this That's five seven ten years. I Mean cognitive computing will not work without teaching That's what we have to take our time teaching the machines, but the bottom line is, you know We're moving into a world of Cognitive systems Not everywhere, but quite clearly machines will no longer be primarily programmed They will apply deep learning and learn what we missed. I Mean a doctor can't possibly, you know, read all that stuff about the latest things a computer can read a million books a minute But if the computer reads a million books a minute and I feed the computer the whole library of philosophy But the computer be a philosopher Well, the answer is obviously not He would know a lot of things about or she in most cases Would know a lot of things about what's in the books, but would would they actually comprehend the meaning of it? Would they make the connection? unlikely and I would argue it's not needed It's plenty if the computer has all the data and they can give us zeros and ones as an output because we can do so much with that We don't need the computer to be sentient To actually understand us So I'll give you some examples. I think you know, we're moving into world or machines can hear us. They can see us They can understand us. They are taught You know, we're only a year 18 months away from a hundred percent of natural language understanding You know what that means is that it's it's game over with inputting with the keyboard or Downloading an app. We just say hey, you know, I want to get married give me a suggestion. I Need to invest ten thousand dollars, you know eco-friendly investment boom done That's just around the corner imagine how that will change customer service You know if the airport closes in Chicago No more phone calls You go to your bot and say hey book rebook me done Because the bot knows about everything about you So that's all very close and I would say sometimes I say no we were living in a world where everything that used to be dumb You know home city energy transport is getting smart We sometimes jokingly call this a smart converter There's some statistics say it's roughly a 60 trillion dollar business is to make the dumb things smart And you all in that business, so you know what I'm talking about. I mean, this is huge But we should stop at a certain point because not everything should be smart Not everything should be connected or automated There are some limits to how good that would be. I mean basically what I call the Coctification of network machines is a bigger change in the industrial society I mean, it's fairly trivial with autonomous cars that ride around cities, right? But think about things like lawyers judges Based on software that already exists Again sounds like science fiction, but we're getting very close, right in Florida The first trials of a software that can predict if a person is going to do commit a crime again Or if they should go out on probation or not and That is a judge's job usually So I don't know who makes a software because their argument would be that the judge may have it had a bad day or be tired or You know feel grumpy or you know have a bias the machine wouldn't Now we have to ask the question. Well, that's very practical, right? But is it human? Wouldn't it be better if the judge actually used the stuff from the machine? To become a super judge and be faster, but still make his own decision and Would that be a practical? You know, it could be the same problem that we have with airlines with pilots The biggest problem is the handover problem your computer says I'm done. I can't go any further take over and The pilot has 0.4 and 0.4 seconds to decide humanly impossible So that's all the kind of things that we're going to go into this future and basically what's happening is every digital company every internet company If we a company that works with data is working on this the global brain In fact, Google has a project called the global global brain I looked the other day that's like 25 brain projects every data everywhere everyone And so soon the question will no longer be if technology can do something because they the answer will be yes You know today was sitting here and saying I was going to be too expensive. Maybe it doesn't work You know, how much do we have to redo our IT systems and so on, you know every day problems But in the future not too far away five seven eight years Technology can do it the answer is always going to be yes Because you know the curve is like this So the key question will not be if we can do something because if you know we just can The question will be why what is the purpose of what we're doing is The purpose to cut people out of the loop, you know increase our margins invent a new business model compete or Is a prevention of other people's business models? Does it serve human purpose? I mean that is the ultimate question I mean in business we're in business to make our clients happy and As I said, you know happiness is not so easy to define We know that they're very unhappy with bad tech But does good tech make them happy Yes to some degree but on the other side, you know, what really makes them happy is things like this Relationships, I mean, this is the human element relationships trust emotions The human things so when we look at things like the Internet of Things that we're building We're essentially building a new Meta intelligence we're building a brain as Cisco says seven hundred billion devices in roughly seven years Everything I mean the power of that is mind-boggling super power 90% positive, but Who's gonna be accountable for this or is it gonna be like Facebook, right? It's all none are we we don't have control what people do here They just pay seventy five million dollars and they can do whatever they like That's probably not a good idea. I Think that's fine when you're in the advertising business, you know You get beaten up over that but you know if we build a system where everything is connected our food our banking Digital money our cities our houses our health records We can't just say well, you know, we just make the tack and let other people worry about the consequences. I Don't think that's a good idea. I would ask about this, you know, if he on that business, what are your ethics? Can I hold you accountable? Are you reliable? I? Don't know if you notice, but you know there's a major trust crisis towards Silicon Valley now Because not because they're bad is because they're too good It's amazing the stuff and it's hard to follow who you should trust in which way we're going with this So on this scale basically this is our challenge, right? We are linear Unless you believe that you're going to become a machine and you know increased memory space in your brain Which some people want to do or you know if you eat lots of what's called new tropics You know you may have heard about that You know little performance Pilts the V agra for the mind You know, we are just linear we're not going to be like machines and in a very short time machines will go away You know 30 times in the exponential curve is a billion 30 times is a billion so that's what's where we are trying And so what we need to do is need to figure out you know We we're not going to go back on technology. That's not going to happen We keep inventing and after all it's us who invented But we're going to have to catch up with our rules and ethics and society here So definition of ethics really is the difference between what you have a right or the power to do And what is the right thing to do? I mean look no further than Washington just the last couple days, right? That's exactly what this whole debate is about They have the right to do whatever they want to make money any which way they want, but is it the right thing to do? I mean that is a key question And it transcends the business model and you know mere thinking of profit So you know technology really is what I call hell then hell and heaven That is also not new I mean every technology is like the television is hell then right 6.5 hours a day the average American watch is television 6.5 hours It's hard to believe because I don't but I'm not American I guess but so I mean technology is mind-boggling I mean think about genomic editing of the human gene, right? DNA editing what's called programming the human body and reprogramming If that works well that could be fantastic we can solve cancer But what we'll have super soldiers. How about that? That's probably not such a good consequence So we can make you know nice things that can be used as a tool like social networks that kind of like social bombs or We can actually use that for warfare Quantum computing AI virtual reality genome editing and so how do we keep one from the other? I mean this is obviously the the ongoing battle. I think a technology who is ultimately going to be what I call mission control for humanity Who decides Is mission control for humanity just a question of profit what it can't possibly be Because if it was for profit, you know, we would do whatever makes money and that would be the end of the of the road for us You know AI genome editing Geo engineering So how are we cautious, but don't you know stifle innovation? That's a major challenge for us So in this world as machines are getting smart lots of opinions have been voiced about what happens with that, you know But some people say it's gonna be game over for humans like Stephen Hawkins just yesterday said that again Hawkins And who I admire, but I don't quite agree with that. I think Elon Musk has said several times, you know, we need some sort of regulatory oversight At the international level to make sure we don't do something foolish. I Tend to agree with that, but I would also brought it down to more of a Simple headline. I think the most promising future is one where we don't postpone innovation But we also don't dismiss the exponential exponential risk as somebody else's business In other words, we just keep inventing and we say well if somebody abusing us that let the FBI worry about it Or somebody else gonna fix it So now you see all tech companies that are inventing in the space of IOT and AI to also think about the unintended Consequences what's called the externalities, right? I mean imagine if we hadn't curbed the zealous oil companies would have drilling towers right here That's called an externality We don't want this with AI, you know, we want to be careful about where we're going without preventing it So the key question really is what's going to happen with the humans machines? We are Going to this future. We are already here All of you are glued to your mobile phones whenever you can so am I But it's still a bit like, you know, it's outside of us Imagine when that moves really inside of us and we can connect directly There's already sort of a Attack in the US that's being used to describe the future of work which is wired or fired So you either always there or you're not there at all That is your your choice So it's a future gonna be like this. I always like to say that, you know, I'd like to be smarter I think that's a good idea But really in the end I would prefer to be more human. I Think that's being smarter as an end is a game. I will lose You know, I was the other day at one of the big providers of AI Based machines and I asked the machine what the future of Europe was and she gave me a 10-minute talk About the future of Europe Like that's my job you damn machine Well, I realized that actually not really my job, you know, my job is to go beyond but the machine can pull together in Information, you know information is a commodity We reach in the end of the knowledge economy where we know more than our clients That's not gonna last right because the client can just speak to a machine Machines are dumb now, but give it five years and they will figure this out So we may be the last generation of unaugmented humans The last people that know what offline actually means when we talk to Gen X, you know 20 year olds The other day I was in Zanzibar with my younger son and we were on the beach and and Enjoying the sunset and and he pulls out his mobile and he hits the button and nothing happens and he'll say What's wrong with my music? Well, the answer was no internet He had never in his life been anywhere where that button didn't work So that's like breathing But should we be like this as a result, right should we I don't think that's a very good destination for us, you know To connect directly to become superhuman So here's the key question that will keep you up for a few days. How computable are we? Let's believe it or not the believe in technology in Many places is so strong that a lot of people are arguing we are essentially technology This is not just Silicon Valley or China. The argument is essentially we are fancy technology We just don't really know how fancy yet But we are just the same in this very box here Just infinitely more complicated if that's the case then of course we're gonna converge with it, right? We're going to You know amalgamate That is a key question when we think about how what we're going to do when we talk about intelligence, right? Simply defined as the ability to accomplish complex goals So it's interesting, you know when you when you talk about artificial intelligence Which is defined as computer systems that can kind of do things like we usually do Then you have to worry about is this the definition of AI and And I would say well basically, you know ex-machine on those kind of that's an interesting entertainment But it's actually pretty far away from what AI means for us. This is what AI means now a Car that can do the job the basic job of some assisted driving We can't sit in the back and eat a hamburger quite yet But it's very useful That's not really AI is more like I a right intelligent assistance robots that can do the warehouses Other robots that can do complex tasks getting cheaper by the minute I mean Baxter is pretty intelligent, but it's as dumb as a toaster compared to compared to a human and It can do only very narrow things Google lens If you try the new Nexus phone, it's amazing You hold it up over any object any store and will tell you what it is I mean you can hold it up over over some clothes you want to buy or a book and it will just tell you what it is But a human looking at a restaurant like this has an association of 5000 average data points instantly The smell the sound the people the memories The computer says yes, it's a hamburger place It's useful, but you know, let's not get too far out on this You know what computers could do with this quite yet? My favorite is this it's called do not pay Okay, it's a bot that is a lawyer Sorry about the lawyers in the room, but this bot is basically refuting parking tickets in New York City and London or Filing a the class extra suit for Acre facts on your behalf using data that you put in It's essentially a robot bot a lawyer bot Me give it a try sometimes. It's pretty amazing how it does it, but you know, it's extremely limited So the bottom line is you know as you know money is going up in AI these days There's no limit to what people would spend on AI You know if you if you open the browser in the morning It says Qualcomm will do AI and these people will do AI and that it's gonna be AI and you know, that's that's the headline so data is the new oil and AI is the new electricity. I mean, we're getting literally to the place look at the top list of companies Mary Meeker's report from just a few weeks ago These are companies that are data companies They're more powerful oil companies making more money Having less restrictions They are the drivers of the economy half American half Chinese Now this is something we don't want to lose in America, right? We can we can be on top of that pile of course, you know, we in Europe would like to contribute a little bit to that too Eventually that will happen, but you know Putin says That whoever is first in AI Will be the ruler of the world Is that a threat or a promise? I don't know but That makes you worried about an AI arms race, you know, that will be a very very bad idea That's a very bad future if we look in this direction, but let's go back to what AI actually means, you know humans really have three kinds of intelligence Social intelligence like we know roughly if we're in the same level or you know, the other person is a king or you know An important person we have social understanding. We have emotional intelligence some of us you know empathy compassion understanding Hard to define what that actually is it's been tried but We have intellectual intelligence. We know things and then basically there's a gap and then afterwards We have the machines the the intelligence of machines is in a whole different category Because for example when you talk to a client the client has a problem The client is not actually telling you precisely what he what he wants But you can read between the lines the client is pissed off about the price You know there's something there that you haven't heard how would a machine do this? How would a machine deduct? From what hasn't been said You know, every psychologist knows that 95% of our interactions are actually subliminal Very hard for a machine to do that So what we have to worry about is that we give the machine too much authority Not that they're going to come and take over or kill us or you know any such thing I mean that may eventually eventually be an issue but right now as I said that most is dumb as a toaster Apart from their regular work that they do in the narrow domain so The Polandia paradox says we know a lot more than we can tell We can't automate what we don't understand and yes, we can teach the machine to understand that and we will and we should But still there's a point of where understanding goes beyond the zeros and ones for example a computer Would never understand why I decide this today and tomorrow. I have another decision or why I lie because it's required and When I shouldn't lie When I should cross a double yellow line or not You know those are all things that are hard to do my colleague. Lochani for idiot AI researcher says Algorithms outperform human intelligence when it is not about understanding the human things Interpretation semantic skills sentience consciousness ethics I Look around here there what what matters to our own life is actually not data that matters to our businesses What matters to us is the opposite of the algorithm is what I call the andro rhythm, you know the the human things and That will not change unless we stop being human It's a very important point. I think if we look at this Computers and robots can go into our head like Amazon Echo Google Home Siri Cortana and they can look around and they can look at 200 million data points But you know 200 million data points is a fraction of a nanosecond in my neurons it will be interesting to have that it will also get improved but Ultimately, you know, it's a place for this and a place for something else the biggest danger is as I said earlier Not that machines will take over But that we become too much like them and that means for example, we stop socializing because we can do it through a screen We don't bother dating in real life because we have tinder and we just swipe boom done And we forget things that used to be important to us, you know, it's trivial when it's about driving a car because you know Driving a car is not a human right in Germany it might be but you know By and large we can do without driving a car That's not gonna hurt us, but can we do without deciding if we're going to have children or not? based on our own opinion rather than the DNA analysis and Should we be able to do that? What's gonna happen to our free will when machines become really perfect? I mean talk about free will right? We've been manipulated by Russian Facebook feeds a 128 million people Have been subjected to those messages in their inbox. I mean is that just normal or? Is that the new future? We also have to think about you know in the end We should not start confusing amazing simulations with actual human assistance Human research sources analytics for example It's really powerful stuff. It's not the actual existence Trip advisor isn't real It's useful, but when I stand in front of a restaurant I look inside. It's full of happy people. I Use I go on trip advisor says no, it's the worst place in town Do I go somewhere else just because of that? You know, I would be stupid to do that. I would rather wait But yet people do that Trust the machine more than what they see so in this future. We're gonna talk to machines. That is basically a given That's a huge business opportunity Your natural user language interfaces bots and so on use a short clip Is The conference in Dubai last week where this robot was introduced called Sophia Of course the interesting part is that this robot is actually not Responding at all. It's pre-programmed to say this. I mean, I know because I've been at those demos It's rehearsed. It's an interesting way of saying like you know, we think that this this this robot actually has capability of doing that But it's far from that It's still useful, you know, if you're gonna order a pizza may as well order it from Sophia But what I care about opinion about Elon Musk, you know, I'm not sure but we're going to move into a world where artificial intelligence is everywhere And I think I would maintain most of that is really I a you know, it's intelligent amplification That's very useful at the same time you could say well, you know, it's it's convenient It's cool, but it could be also de-skilling us. It could be creepy It could have bias There's something we have to keep a good eye on I Think a lot of customers in Europe would feel creepy about for example the Google home idea, you know an open microphone Germans aren't buying this Open microphone in your living room Said creepy is it good? I don't know but you know bottom line is that human happiness is not technology Trust isn't digital Happiness is not a program connectivity. He doesn't mean you're happy Relationships are on code But the opposite is also not true. It's not true, right? If if your technology does not engender Contentment and happiness. It's a bad idea. So we have to find a balance a way forward that we can combine those two things So That's the threat of automation, right? We should first ask what can we automate and make more efficient in our process, you know, that's good But the second question should be what should not be automated What should not be connected? I think because otherwise the temptation is very big that we replace automation We use automation to replace a human process like HR Like make a decision So this is what's going to happen with our jobs, of course There's been many discussions about jobs becoming extinct and that is a huge challenge for our society and one that America is not prepared for at all I Mean it's with some where we where I live it's you know, we have seven million people We don't have you know two million people driving driving trucks or so, right? 16 million people in the US Drive a car or a truck as a job Automation will not easily replace all of them, but you know good five million maybe initially So this question pops up all the time, you know, are humans the horses of the digital era Some of you may still have horses for fun But horses used to be everything, you know would have a horse for transportation that and now horses are useless So sometimes I like to say jokingly if you can describe your job, it will be automated Take the test You know, it's really interesting when you talk to people and say, you know, what do you do and they have a hard time Tell you well, you know, they're safe Right But the bottom line is anything with routine is going to be automated And this is the future that we have to face Anything that can be digitized or automated will be If you have kids don't let your kids learn anything that is routine Whether it's programming or bookkeeping or financial advice on the bottom level and the reverse of course is also true Anything that cannot be automated or digitized Robotized virtualized Becomes extremely important. That's why we're here So we should give humans more credit when it's about the future of work We are going to lose a lot of tasks to machines, you know, I think machines will replace our tasks not our work We have to move up the food chain, this will be very hard to do for you for a cab driver, you know There is no food chain after driving But generally speaking, you know, we're going to discover new jobs that are more emphasizing these kind of ideas What I call the and rhythms So I talk about digital ethics and then I'll wrap up with a couple summaries first, you know We have sort of an increased future shock today Future shock was a book by Alvin Toffler But people feel worried about the future because all these things are happening is just insurmountable amount of things, right? There's a lot of fear and anxiety, especially about robots And automation and then we have of course things that are currently happening in the world, Catalonia Paracana says that devolution The decentralization of power is a consequence of connectivity. I mean, right what's happening right now in Spain and Catalonia as a Really really very very difficult place on both sides and we have that everywhere in your there Maybe 20 new states in Europe in five years. I Mean we're talking about a future that will be shaped by media and PR. Oh, media from Founder of was it PayPal no eBay eBay? No, sorry PayPal I think He wrote the other day in New York Times that basically social media has created a generous host For the issues were currently facing interference So social media has become many ways a social and it's an interesting angle You know, we're talking about this every day now when we're looking at Facebook and all the current issues like Facebook is the best performance technology stock in the entire sector At the same time Diane Feinstein who is not known for criticizing tech She said yesterday in Washington that Facebook has created these platforms And now they're being misused and you have to be the ones to do something about it or we will Now that is one serious threat from from a senator that's usually exactly the opposite The bottom line is now the technology companies are responsible for what they create becoming responsible I Think this is a very very big change in our overall story because ultimately, you know, this is what it's all about Elephants, you know, just getting trust I Mean we are literally sleeping at the foot of the elephant when we use technology And you know, we trust that they will catch us and this is becoming a key issue. I think in our society and New York Times headline on Their homepage was just a few days ago. I mean this this is also a huge shift in thinking, right? I'm not saying that's true or not. You know, this is obviously a big discussion And what is a friend, you know Silicon Valley? What is Silicon Valley? But Here's a message Silicon Valley. It's no longer good enough to just disrupt You also have to construct So think about your business when you think about the future Adoring disruption is nice. You know, it's fun. It's been fun for a while, you know unicorns and so on But that's not the future. The future is to build something If Uber and Airbnb and others like that will be successful, they have to figure out how to generate value in the long run Not from all the willing workers that are willing to work in the geek economy So looking at a larger future here. So the key takeaways are this first The future is not like the present If there's one thing that's for certain is that we can simply say that in five to seven years Most of our companies will have to generate 50 to 70 percent different revenue streams from today We have to constantly make a new window Kevin Kelly in his new book says we are no longer being something as a company. We are always becoming something That requires a different mindset. You know, this is not about tech It's also about tech when you don't have it to support that process, right? But this is about figuring out what it is So to deal with this exponential future you have to come back from the future This is an approach I use of my clients, you know We don't say we're going to take today's business and just amend it a little bit You know put a band-aid on and make maybe a new arm or something. We move into the future You have to actually go to the future five to seven years from now and come back with what you've learned and Then apply it Coming back from the future What do we know about the future in five to seven years? Well, if you sit down for a week you think about five to seven years from today You'll have pages of stuff that is certain to happen the end of oil Cognitive computing language understanding automatic translation image understanding I mean all the stuff that we see every day around us So it's very important We have to expect huge shifts in business paradigms and economic logic and I would submit most of that is good This is Switzerland last year We had a vote on the basic income guarantee Which is basically a measly twenty seven hundred dollars a month or Regarding irrespective of how much work you do 26% of Swiss people voted for this. I Mean if he had that vote here, it would be zero point zero zero zero I think that's ultimately a destination that we're going to Elon Musk agrees in our automation will make that kind of idea probably mandatory in the near future So we're moving into a world where this is becoming the new paradigm of operations people planet profit and We've talked about this for 50 years didn't happen. There was no commercial room for it But clearly now if we don't think about people planet profit with we just think profit think about AI and human genome editing geoengineering That would be the end of it quite simply put We have to think larger and as a business you have to think about that paradigm because that is the new measuring stick for the stock market in just a five seventy a time frame in In fact, I predict there will be a new stock market for companies that think like this Like a NASDAQ for a triple bottom line So how do we understand this future, you know, it requires some wisdom That is so crucial and you are here in this room together wisdom in on the conversations that we're having four things observe Observe the future five percent of your time should be spent with looking at the future not 50 years from now Three four or five years, you know the immediate future Understand understand requires listening You know, you can talk to your kids, but you don't really understand because you haven't listened That's hard to do Imagination this is your number one weapon against unemployment Computer has no skill of imagination They can predict things based on data, but can they actually create they can write a piece of music That's a simulation Finally act on four sides Jeff Bezos acted on four sides when he made the Kindle Nobody asked for the Kindle So that's really crucial for us for our future the crucial skills I'll skip this because we're a little bit out of time here But the world economic forum roughly says that, you know, this is our new skills We need critical thinking creativity Emotional intelligence. I haven't skipped it after all I suppose Anyway, that's our brain today, right and half of that brain will be taken over by machines because machines will learn the left part You know the logical part that that part of our brain will be accomplished by machines in the next five to ten years And that is of course a very old definition of the brain now It doesn't really exist the left and right But the crucial skill is you know, we have to get used to the fact that machines can do this I Have to move on in the moving to facts that only us can do that includes emotional intelligence and we should not focus so much in efficiency You know, if you're worried about efficiency and you want to use tech to be efficient, that's great But you know, that's a five-year window and then you are efficient Focus less more on efficiency and more on creating new values human values Use technology to create human values. That is the ultimate goal Because nobody can replace you if you have human values Everybody replaces you when you adjust technology. So that's a very important lesson I think that we can learn, you know, we have to put the human back inside of our technology I mean if you can automate and make things more efficient by all means you should do that, of course But don't do it on the cost of taking the human out Because you have all your goals like this I mean humans are about relationships and you know, so that's our future. We have to decide which part you're playing on Technology can be both and be evil can be great Where do you position yourself That is the key question every time you launch a new software a new product you invest somewhere You have to ask the question is this going to be Positive for human flourishing for my clients for my customers not just in the sense of the bottom line, right? But in a larger sense That's how value is being generated in the future So we have to look at this feature as having two things, you know technology algorithms and Humanity and what I call the and rhythms that is our mix that is inevitable And we have to invest in both. I mean it would be foolish if we weren't investing in technology But I would submit it would be more foolish if we weren't investing in people Removing people from the food chain. So I like to paraphrase Steve Jobs rest in peace Stay hungry stay human Steve Jobs said stay hungry stay foolish. I guess that's the same thing, right? So that would be my appeal to you stay hungry stay human and read the book for more. Thanks very much for listening