Results tagged “World Economic Forum”

How Technology Can Make Healthcare Accessible To All In Latin America
How Technology Can Make Healthcare Accessible To All In Latin America

Access to healthcare in Latin America has been increasing since the 1990s. However, day-to-day delivery of medical services still needs improvement. 30 percent of the population does not have access to healthcare and not many countries in the region meet international indicators on doctor-to-patient ratio. On an average, the region spends only 6.7 percent of its GDP on healthcare.

More recently, the Zika virus has taken a heavy toll on Latin America. The World Health Organization expects the virus to infect anywhere from 3 to 4 million people by 2017. An impact assessment by the United Nations Development Programme estimates the socio-economic costs of this mosquito-borne disease to be between US$7-18 billion from 2015 and 2017.

Data-driven Energy Ecosystems for a Sustainable Future

Data-driven Energy Ecosystems for a Sustainable Future

It is that time of the year when policy makers, business leaders and academicians meet to discuss global challenges at the World Economic Forum (WEF) Annual Meeting. Shaping the future of energy is one of the focus areas of the forum. In the context of energy, big data and digital technologies will drive new efficiencies and open up possibilities, thereby playing a pivotal role in its future. Leveraging data in newer and more advanced ways will be a fundamental driver in creating an energy ecosystem for a sustainable future. This ecosystem could be predicated on what The WEF Global Energy Architecture Performance Index Report 2016 calls the "Energy Triangle", which benchmarks energy systems against three primary goals: Economic Growth and Development, Environmental Sustainability, and Energy Access and Security. The question is, how can data-driven energy ecosystems help achieve these goals?

Economic growth and development

The Future of Consumption ─ A Closer Look

Sense, Analyse, Engage: How to Successfully Monetize Your Fan Ecosystem (Part 1)

I have a friend who still has a Betamax player from the 1980s. During that decade he enjoyed picking up videos from the rental store to watch movies at home. After a while the rental store only carried tapes in the VHS format. About two decades later, the store, and many like it, closed. At that point, people were overwhelmingly choosing to order movies to watch on their DVD players.

Today, of course, that consumption mode has been largely replaced by movie streaming services. If you look at that vintage Betamax player, you will realize just how rapidly a seemingly healthy market can be disrupted. Technology has been impacting consumption - time and again.

Five Ways in Which AI Is Changing Banking As We Know It

Sense, Analyse, Engage: How to Successfully Monetize Your Fan Ecosystem (Part 1)

There was a time when every neighborhood bank in North America and Europe was acquired by or merged with a larger institution. By 2000, global mega-banks offered fewer choices to consumers looking for competitive interest rates and other services. But the too big to fail banks are now facing competition because of a resurgence of customer-friendly, local banks. There is an even bigger challenge: Technology companies have been applying for financial licenses that would allow them to enter the digital payments space.

As traditional banks grapple with the challenges posed by FinTechs, legacy constraints and traditional operational models, artificial intelligence (AI) is emerging as the savior. In a recent survey that Infosys commissioned on AI adoption across industries, 23% of the nearly 250 respondents, in the financial services sector, confirmed that AI technologies have been fully deployed in their organizations, and these are also delivering up to expectations; 47% of the respondents view AI as being fundamental to the success of the organization's strategy.

Why India May be at its 'Good to Great' Moment Today

Why India May be at its 'Good to Great' Moment Today

The World Economic Forum's India Economic Summit 2016 is scheduled to be held on 6th & 7th October this year in Delhi, and Infosys is proud to be a strategic partner of the Forum. The theme of the event is 'Fostering an Inclusive India through Digital Transformation', clearly articulating the inflection point that India is at now. To explain our situation, I would like to borrow from the well-known book by Jim C. Collins, 'Good to Great', in which he describes the example of an egg. By itself, an egg may seem rather ordinary, until a chicken is hatched. And that is the wonder of nature, because there were some complex growth and developments happening in the background, before we witnessed the transformation.

As a large diverse country, the elaborate changes underway in India may similarly not be obvious. I wanted to share a couple of examples of how I believe India is becoming inclusive through digital transformation. One big launchpad is education. VJTI Engineering College, Mumbai is doing some innovative work through their smart grid CoE Lab, where they are building the intellectual capital around smart grids. The recently launched PSLV satellite had equipment designed by engineering students from PESU, Bangalore. In this, we get a glimpse of a growing population of youth who are almost literally aspiring, and can aspire, for the moon. The digital revolution sweeping across the country is making this and so many other things possible. The 19,000 startups in India, as of 2016, is yet another testimony to India's potential of becoming 'good to great'.

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Why Finance Is Key To Climate Change



Learn about the potential of perovskite-based solar cells [Source: https://www.youtube.com/watch?v=yHOawKWFE7A]

The Top 10 Emerging Technologies 2016 list, compiled by the World Economic Forum's Meta-Council on Emerging Technologies, was released right before last week's WEF summit in Tianjin, China. One of the most promising emerging technologies is the perovskite solar cell. According to WEF experts, this new photovoltaic material offers three improvements over the classic silicon solar cell: it is easier to make, it can be used just about anywhere, and it generates power more efficiently than older solar cells. In some ways, the perovskite solar cell is a metaphor for the Asian economies. These nations and their people are helping to spearhead the Fourth Industrial Revolution (this year's summit is called 'Annual Meeting of the New Champions'), but are also keenly aware that this time around, the revolution must take place with climate in mind.

Therefore, I was honored to be part of one of the most interesting panel discussions of the summit - 'Policy, Incentives, and Finance for Climate-Smart Growth.' Stemming from the crucial United Nations Climate Change Conference (COP21) in Paris last year, where global leaders signed an agreement to limit global warming to less than 2 degrees celcius compared to pre-industrial levels, our discussion focused on incentivizing climate investment, carbon pricing and the energy revolution.

Increasing Transparency Through Technology

Increasing Transparency Through Technology

With so much technology around, it is fairly easy to be lulled into a false sense of security. But, let me give you a few examples. Not too long ago - a rogue trader at UBS bank cost the company over $2 billion, despite the trading process being completely digitized. What stops a citizen in any country from paying someone a nominal amount to get their driver's license? One can fill in an application form online, but they still have to spend agonizing hours standing in line to get the license through proper channels.

What I'm referring to is that technology, even with its strongly associated attribute of transparency, in itself cannot eliminate corruption. Technology, by itself, will not flip the equation. It will contribute to changing the culture, of which people are an integral part. This, and so much more, was discussed at the World Economic Forum's panel on 'Technology for Transparency' in Tianjin, China earlier this week. I was delighted to participate and learn from this spirited panel, which included representatives of various governments and corporations.

Spotlight on Regional Issues At World Economic Forum on ASEAN



Leaders consider ASEAN's future direction [Source: https://www.youtube.com/watch?v=abzspVpP89s]

Last week, I represented Infosys at the World Economic Forum (WEF) on ASEAN in Kuala Lumpur. The theme of the conference - Shaping the ASEAN Agenda for Inclusion and Growth - couldn't have been more relevant. Southeast Asia is experiencing great economic growth and urbanization, but that kind of social improvement doesn't include everyone. Granted, the ten-member states of ASEAN all share similar cultures and histories by virtue of geography. But that's where the similarities end. There is Singapore and Brunei on one hand, with their pristine streets, skyscrapers, and some of the wealthiest populations on the planet. Then there is Cambodia, with a largely rural and poor population.

This year's conference focused on public and private partnerships to address some of the areas that need immediate attention, such as education, infrastructure, transportation, and unemployment, to bring about parity between the developed and poorer countries in the region. And for such initiatives to succeed, digital - as the great enabler of our times - must connect 625 million people in the ASEAN region. It was heartening to witness unanimous faith of leaders from political, social and business communities in digital technologies in accelerating changes, improvements and benefits in the ASEAN region. The perfect confluence of needs, collective intent to address these and opportunities.

Looking At The World From Davos, Virtually

Looking At The World From Davos, Virtually
The Infosys 'Earth 360 Experience' project at Davos

It's in places like Davos, tucked into a valley in the Swiss Alps, where one is confronted with the stark reality of climate change. Davos is 150 kilometers southeast of Zurich, and to get here we travelled through picturesque valleys, past pristine snow-capped mountains, along crystal clear mountain rivers. But the temperature is rising, and Switzerland's glaciers are melting.

Last November, delegations from almost 200 countries met in Paris to negotiate a global document on the reduction of actions that lead to climate change. 150 global leaders met in the same place at the same time because this is one of the most important issues of our time, inspiring the thousands of delegates to act and come to an agreement. The Paris Agreement, presented after two weeks of negotiations is a consensus of the parties, and will become legally binding if ratified by at least 55 countries that represent at least 55 percent of global greenhouse emissions.

Online Payment Companies Hone In On Financial Lending



SMEs turn to peer-to-peer lending [Source: https://www.youtube.com/watch?v=C_c9Hs3wGv4]

It was the legendary technologist Andy Grove who said: "Only the paranoid survive." Smart advice from a smart businessman. Today's marketplace is shifting and changing so rapidly that it certainly does pay to keep one's eyes on the prize.

Consider, for instance, the online payments space. The post-global economic crisis created a new world order, especially when it came to financial services firms. During the World Economic Forum (WEF), the best and brightest from the banking world discussed how nimble even the largest banks have had to become just to survive. And how, by the power of crowdfunding, new entities are giving them a run for their money.

WEF 2015: Incubating Innovation



Davos 2015 -- What to expect [Source: https://www.youtube.com/watch?v=HH_ENRldd0E]

The world has been a troubling place lately. I don't need to go into the details if you've read even one newspaper or watched a newscast on the web or TV during the last week. But, as they say, it's always darkest right before the dawn.

It's in that spirit that the world's business, political, and cultural leaders will converge on a quaint Swiss town of Davos this week to discuss how they can, collectively, improve the state of the world. That's been the World Economic Forum's slogan for decades now, and its prestige as a conclave of problem-solvers increases every year. This year, among the many challenges and issues its attendees will be discussing, is innovation and how best to incubate it.


Maximizing value from data explosion - social development with insights than mere intuition [Source: http://www.youtube.com/watch?v=Y-Bk5vgavYk]

When oil prospectors began striking it rich in the American Southwest during the 19th century, each one would hope for a "gusher." That meant that he had drilled deep enough into a well filled with oil and the pressure under the earth would force it up in a large plume. Gushers took a while to cap, and millions of gallons could be lost over the landscape until rig workers got them under control. But once it was capped and a pipeline brought in, the prospector could expect to tap into exponentially more oil for weeks and even months. The story of the 19th century oil boom is not unlike what's happening today with the global data boom.

Enterprises are benefiting from the fact that exabytes of data (that's 10 to the power of 18) are created every day. The most successful enterprises control those gushers of information, cap them off, and direct them in pipelines to the right places where that data will be parsed and utilized. The World Economic Forum's latest Global Technology Report (GTR) points to this data explosion as part of the inevitable growth of the Internet of Things. So far, only a small fraction of things that have the potential to be connected digitally are indeed connected as such. As more devices - from sneakers to toaster ovens - become connected to the IP networks, all that data will begin a profound transformation. According to the WEF's experts, we're going to begin to see significant amounts of data result into actionable information.

Helping Banks Help Consumers



I was struck by how someone recently described the new chairman of the Federal Reserve Bank of the Unites States. Janet Yellen, she said, is not only the first woman to hold that post. But she's also the first Keynesian who's *open* about being one.

Being a Keynesian, of course, means that you have great faith in the power of monetary policy to affect the economy as well as the banking sector. That there have been central bank governors who have believed in Keynes is without argument. It's fascinating, though, that she is the first one in her country not to hide her devotion to this philosophy. I bring this up because monetary policy is back in the news again. Our colleagues who attended the World Economic Forum last month came away with a healthy dose of discussion on the topic.

Global figures like Kofi Anan and Shashi Tharoor tell us that, perhaps, the single most powerful tool for improving the world is educating women and girls. Summing up a large body of evidence ranging from health outcomes to economic productivity, Tharoor concludes, "If you educate a boy, you educate a person; but if you educate a girl, you educate a family and benefit an entire community."

Like many female executives, I'm often asked how to increase women's participation and advancement in business.  Increasingly I am convinced the answer is, educate boys.

World Economic Forum (WEF), Tianjin

wef.jpg

So, what's the headline? Simple. "Economists won't bet on world economic trends. They'd rather do something innovative to keep businesses going. And believe it's important that governments work closely for the progress of global economy - after all, it's all interconnected."

Yes, it's exciting to be here again. Big corporations apart, WEF invites fast growing small companies, innovative firms, entrepreneurs with ideas for radical social progress and academicians. Last year, the most talked about topics were the Chinese Yuan-USD exchange and the Economic Crisis in Europe. From what I hear now, it's no more about the crisis in Europe - it's the " Europe phenomena"! Businesses must simply learn to adapt and thrive in the changed situation.

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