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There is growing awareness that AIs will learn morality and prejudices from their human masters. Where do the greatest dangers lie and how should business leaders think about them? Can these dangers be regulated away, and if so, by whom?
Panellists
Jane Zavalishina, co-founder and president, Mechanica AI
Steve Leonard, chief executive, SGInnovate
Moderator
Tom Standage, deputy editor, The Economist
Leading executives and thinkers are actively using data to transform business operations and improve organisational efficiency. In this session, we will hear from business leaders who are making the most of data to radically reform their internal and external business strategies. What does it take to get customers to adopt a new technology? Are Asian consumers more open to testing new technologies than those elsewhere? How could data transform your organisation? And how do you convince employees that technology will work alongside them rather than replace them?
Speakers:
- Huey Lin, president, Flexport Asia
- Andrew Hoad, chief executive officer and managing director, Asia Pacific, DP World
- Phil Chen, general partner, Proof of Capital
Moderator:
Vijay Vaitheeswaran, US business editor, The Economist
Debater for the motion
Xania Wong, founder and chief executive, JOBDOH
Debater against the motion
Gerardo Salandra, founder and chief executive, Rocketbots
Moderator
Vijay Vaitheeswaran, US business editor, The Economist
Speaker
Leo Zhu, chief executive, YITU Technology
Moderator
Vijay Vaitheeswaran, US business editor, The Economist
Operning remarks by Vijay Vaitheeswaran, US business editor of The Economist
#EconInnov @vvvchina @TheEconomist
China’s innovation performance is mixed, according to the McKinsey Global Institute. The country does well on consumer-facing and efficiency-driven breakthroughs, but lags in science and technology. Invoking the mantra of innovation will not bring it into existence. Is too much faith being placed in innovation as the great hope that will save China’s slowing economy?
For the motion: Jonathan Woetzel, director, McKinsey Global Institute @JonathanWoetzel @McKinsey_MGI
Against the motion: Fraser Howie, independent author and commentator
#EconInnov
Big tech now dominates lists of the world’s most valuable companies by market capitalisation. American firms such as Google and Facebook dominate the West, while Chinese ones like Tencent and Alibaba are buying up or investing in South-East Asian players. Latin America, Africa and India are still up for grabs. The world’s largest economies are using different models to govern the use of data, and these often reflect their core political and economic principles. Angela Merkel, in a September 2018 article in The Economist, said that “in the US, control over personal data is privatised to a large extent. In China, the opposite is true: the state has mounted a takeover.” In this view, the European Union is taking the middle road by adopting a model led by government but focused on protecting individuals.If countries are to create systems that work, there needs to be robust discussion of the available models’ merits. What are the limits to growth under each approach? How will their outcomes affect geopolitical developments, especially as China continues to rise? How will these models be applied in other Asian countries like Japan, South Korea and Singapore? And how will emerging large economies, such as India, develop their own approaches? And as Asian businesses and governments make extensive use of data, is there the risk on an eventual consumer and voter backlash, as we have seen in the West?
Speakers:
- K.F. Wong, director, centre for innovation and technology, The Chinese University of Hong Kong
-Jeongmin Seong, senior fellow, McKinsey Global Institute
- Makoto Shibata, head, Finolab
Moderator:
Tom Standage, deputy editor, The Economist
The Tiger’s Lair: Entrepreneurial Challenge, an initiative sponsored by Huawei rewarded Antoine Markarian, chief executive officer and co-founder of Kello, a gadget to improve sleep. The young entrepreneur received a cheque for US$10,000 to expand its operations and next development phase, which was presented by Joe Kelly, vice-president, International affairs at Huawei.
#EconInnov @Huawei @GetKello @amarkaria
In this closing interview, we heard from GE’s vice chairman about how the industrial giant is keeping pace with tech upstarts and driving innovation globally.
John Rice said: "You have to invert your design process and understand what the real competition is in the market. Selling in a developed market and cost reducing so that you can sell in the developing market, certainly in the healthcare business, was never going to be a winning strategy".
#EconInnov @generalelectric
As Europe and America explore how to tame the tech giants and ensure they act in the public interest, Asia has a chance to position itself as the testbed for innovation. The successful application of data is improving efficiency in a wide range of areas, from health care and education to safety, power grids and transport. Asia could demonstrate the positive attributes of data-driven societies, as it consumes innovation in an arguably more forward-thinking way than any other region. The “internet of things”, still mainly a buzzword in the West, is more of an everyday reality in South Korea and China. And on the whole, people in Asia seem happier than their counterparts around the world to share their data in exchange for better services. Yet a lack of cross-border data flows can limit algorithms to putting data to work only in its country of origin, and firms and the public sector are struggling to use data effectively.
Speakers:
- Ramez Younan, Managing director, PCCW Solutions
- Yutaka Sanada, president, Nissan Motor Asia Pacific and Chairman management committee, Nissan Asia & Oceania
- Alain Crozier, chief executive, Greater China Region, Microsoft
- Grace Park, co-founder and president, DocDoc
Moderator:
Tom Standage, deputy editor, The Economist
Antoine Markarian hails from the south of France and has spent his entire career in the tech sector. As the chief executive of Kello, which produces devices and software to revolutionise sleep , he takes charge of the business, vision and product strategy. Before founding Kello in April 2015, he led the hardware and platform partnership team for streaming music service Deezer. Prior to that, Mr Markarian was a business development manager at Microsoft, where he was responsible for securing the best apps for Windows platforms.
@amarkaria @GetKello #EconInnov
Leading executives and thinkers are actively using data to transform business operations and improve organisational efficiency. In this session, we will hear from business leaders who are making the most of data to radically reform their internal and external business strategies. What does it take to get customers to adopt a new technology? Are Asian consumers more open to testing new technologies than those elsewhere? How could data transform your organisation? And how do you convince employees that technology will work alongside them rather than replace them?
Speakers:
- Huey Lin, president, Flexport Asia
- Andrew Hoad, chief executive officer and managing director, Asia Pacific, DP World
- Phil Chen, general partner, Proof of Capital
Moderator:
Vijay Vaitheeswaran, US business editor, The Economist
The growing rivalry between the United States and China has repercussions for the global economy and concerns around cybersecurity could lead to enduring impacts on global supply chains. One scenario could see the two superpowers pursue their own innovation strategies in isolation. What would be the implications of a bifurcation of global markets for new technologies such as 5G networks? Will countries and companies be forced to choose sides? Which countries and companies in the region could benefit from in this scenario?
Speakers:
- Xiang Bing, founding dean, Cheung Kong Graduate School of Business
- Jennifer Zhu Scott, founding principal, Radian Partners
Moderator:
Vijay Vaitheeswaran, US business editor, The Economist
The day’s discussions will have focused on what governments and the private sector can do to prepare for a data-driven society and how moving towards it will affect global geopolitics. In this future-gazing session, leading computer scientists and futurists will discuss what a truly data-driven world may look like. Efficient societies underpinned by data use, warfare dominated by cyberattacks on whole cities, and authoritarian societies where privacy doesn’t exist could all feature. Based on current trends and insights shared throughout the summit, panellists will discuss what the world may look like in 2030, 2050 and 2075.
Speakers:
- Allen Yeung, former chief information officer, Hong Kong Special Administrative Region
- Christopher Brewer, senior consulting partner, Ogilvy Consulting
- Anna Gamvros, Partner, Norton Rose Fulbright
Moderator:
- Tom Standage, deputy editor, The Economist
In a series of brief and engaging talks, hear from innovative entrepreneurs and thought leaders in technology who are using data to effect social and environmental change.
Speakers:
- Deepali Khanna, managing director, Asia, The Rockefeller Foundation
- Anna Choi, head of digitalization, Asia Pacific, Schindler
- Geoffrey Prentice, co-founder, Oriente
Moderator:
Vijay Vaitheeswaran, US business editor, The Economist
Savvy governments in Asia are turning their cities into AI hubs. Singapore is promoting itself as a centre for driverless vehicles and fintech. New Zealand is reaching out to companies experimenting with autonomous drone delivery services, and China hopes to revolutionise the way the world works by using automation and smart machines. Nurturing AI-driven industries and business models could lead to tremendous growth.
How should governments regulate machine learning, considering the implications for privacy, jobs and traditional industries? Who should accept liability for mishaps? And how should governments use AI in their own functions to shed bureaucracy?
Panellists
Leong Tze Yun, director of AI technology, AI Singapore
Naveen Menon, president, South-East Asia, Cisco Systems
Andy Chun, associate professor, City University of Hong Kong
Jennifer Van Dale, partner, Eversheds Sutherland
Moderator
Tom Standage, deputy editor, The Economist
Chinese premier Li Keqiang speaks widely of his government’s plans to usher in reforms that will promote mass entrepreneurship and innovation.
To date, government incentives to increase innovation have led to an explosion in patent applications and enormous spending on science and technology. But critics argue that while China may have made significant leaps in economic growth in recent decades, unnecessary barriers to innovation continue to stifle its miracle economy. Innovators would benefit from more transparency in institutions, corporate governance and intellectual-property protections. China’s state-owned enterprises (SOEs) have risk-averse management styles that hold back progress and creativity. And China’s “Great Firewall” censors access to global websites, hampering innovation and efficiency.
Government-directed innovation laid the groundwork for Silicon Valley in the 1970s, yet in the West current tastes favour open, collaborative and more democratic ways of innovating. Can a top-down, centrally planned approach to innovation still be useful today?
•How can central planners intervene to spur innovation-led growth without negative consequences?
•Some wicked problems - social, environmental and blue sky - lack the market incentives to fund their solutions. Will there always be a role for government in innovation?
•As the tech sector grows in strategic importance for China, is it at risk of increased government intervention?
•Have China’s online giants flourished in spite of the “China intranet”, or because of it?
Speakers:
- Xiang Bing, founding dean and professor of China business and globalisation, Cheung Kong Graduate School of Business @BingXiangCKGSB
- Jason Pontin, editor-in-chief and publisher, MIT Technology Review and chairman, MIT Enterprise Forum Global @jason_pontin
- Helen Wang, author, The Chinese Dream @TheHelenWang
#EconInnov
China has a new generation of entrepreneurs. More comfortable with the risky culture of start-ups than their parents, young businesspeople are building momentum in an entrepreneurial scene that is at its most vibrant on the country’s east coast. Venture capitalists pumped an estimated $15.5 billion into Chinese start-ups in 2015, and the expansive consumer market has created a new herd of Chinese “unicorns”, private firms valued at more than $1 billion.
Chinese millennials have grown up in relative comfort, compared to the previous generation. Living in a strong, reforming economy has given them the confidence to strike out on their own, take risks and try new ideas. Hungry to make their mark on the world, they are starting businesses early in their lives.
But critics argue that China’s entrepreneurial class lacks diversity, which will hamper creativity and new ideas. The Chinese education system, like many in Asia, emphasises rote learning at the expense of the critical and creative thinking skills that breed innovation. Can China realistically place its aspirations for growth on the shoulders of this new set of entrepreneurial hopefuls?
•What should policymakers do to prepare today’s students to become the innovators of tomorrow?
•How will doing business in China change in the coming decades?
•How do China’s accelerators and incubators differ from those found elsewhere?
•Who will be the next Jack Ma, Elon Musk or Narayana Murthy? Which Chinese entrepreneurs will be the world’s future start-up superstars?
Speakers
- David Chao, co-founder and general partner, DCM
- Carlos Marco Rider, chief executive officer, KuaiWear, and graduate, AIA Accelerator @CarlosMarcoR @kuaiwear
- Benjamin Qiu, partner, Loeb & Loeb @benjaminqiu
- Anna Fang, partner and chief executive officer, ZhenFund @annafanghamm @ZhenFund
#EconInnov
Can Chinese firms cut it in mature overseas markets? In this keynote panel:
- Paul Nunes, global managing director, Accenture Institute for High Performance @Accenture
- Jenny Wenjie Wu, chief strategy officer, Ctrip @CtripEnglish
- Jin Wenji, managing director, Legend Capital
- Ken Wilcox, chairman emeritus, Silicon Valley Bank @SVB_Financial
#EconInnov
In a series of brief and engaging talks, hear from innovative entrepreneurs and thought leaders in technology who are using data to effect social and environmental change.
Speakers:
- Deepali Khanna, managing director, Asia, The Rockefeller Foundation
- Anna Choi, head of digitalization, Asia Pacific, Schindler
- Geoffrey Prentice, co-founder, Oriente
Moderator:
Vijay Vaitheeswaran, US business editor, The Economist
Speaker:
Charles Mok, legislative councillor, Information Technology Functional Constituency
Moderators:
- Vijay Vaitheeswaran, US business editor, The Economist
- Tom Standage, deputy editor, The Economist
Speaker:
Charles Mok, legislative councillor, Information Technology Functional Constituency
Moderators:
- Vijay Vaitheeswaran, US business editor, The Economist
- Tom Standage, deputy editor, The Economist
This session will explore the emergence of personal data records (PDRs), which are a single, unifying ledger including all the data we create by using tech, along with other sources of information. With Asia’s appetite for adopting new technology rapidly, will we see PDRs take off in Asia before other regions?
Speakers:
- Pindar Wong, chairman, VeriFi (Hong Kong) Ltd
- Brian Behlendorf, executive director, Hyperledger
Moderator:
Tom Standage, deputy editor, The Economist