Navigating Challenges and Driving Growth in the Fourth Industrial Revolution

The panelists discuss the importance of focusing on societal change in the context of the Fourth Industrial Revolution.

They highlight the need for business leaders to address the trust crisis and skills crisis in order to best serve all stakeholders.

The panelists also emphasize the importance of active involvement, communication, and collaboration with both the government and employees.

🔑 Companies need to have a clear purpose and values, and communicate authentically with stakeholders.

🌐 There is a need for inclusivity in technology, education, and job opportunities.

💼 Quarterly earnings may hinder long-term thinking, but annual guidance can provide a framework for value creation.

📝 Most companies believe they can be a force for good and growth, improving lives and communicating important societal messages.

🔑 The public perception of corporations as indifferent to everything but profit is a challenge that requires partnership between government and the private sector to solve.

💼 Businesses need to navigate political risk in Western democracies and engage in contingency planning to ensure success in uncertain times.

🔑 There is a skills crisis, and all jobs will change in the future.

💡 New collar jobs and apprenticeships can bridge the skills gap and provide opportunities for people without traditional degrees.

🌍 Companies need to adapt their hiring practices and invest in different talent pools to address skills shortages.

📚 Massive online computer courses are being used to train people for free, with the goal of increasing participation in the digital economy.

💼 Brands like Gillette are taking positions on important societal issues, such as toxic masculinity, and sparking conversations about appropriate behavior.

🌍 The fourth industrial revolution requires businesses to be intelligent enterprises, creating valuable products and fostering a strong connection with customers.

🔑 Data stewardship is crucial in the fourth industrial revolution, with companies having access to only 20% of the world's collected data.

💼 Companies must prioritize their processes and digital experiences to succeed in the changing business landscape.

🔒 Transparency, trust, and consumer choice are essential in building trust and ensuring responsible use of data in the digital economy.

🌐 Precision regulation in areas such as consumer privacy, explained ability of AI, and liability for illegal activities is necessary to avoid derailing the digital economy.

💰 Proper tax payment is an integral part of doing the right thing and building trust in business leadership.

💼 Operating with high citizenship and paying fair taxes in every country helps build trust in a company.

🌐 Utilizing public data and digitalization can aid in tax systems and prevent monopolization.

🤝 Promoting gender equity and diversity is a moral imperative for business leaders.