MilliOnAir Magazine July/August | Page 268

My most recent positive experience was the 18th Responsible Business Summit Europe 2019, which is hosted by the Ethical Corporation every year. 500 business leaders travelled to London to outline new strategies, investments and collaborations targeting climate and social challenges.

Sure, economic growth and profit will continue to play a role in business - but not exclusively anymore. It is time to redefine our understanding of success and responsibility.

Could not agree more. There is a lot of talk about 5G and artificial intelligence in digital transformation. Can you share your views on how these areas will change the way the world operates?

Emerging technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), Blockchain, or Robotics, are changing the world.

Especially AI and the new mobile standard 5G will transform our (business) world from the ground up because the opportunities to create sustainable added value for people, businesses and the environment through these technologies are countless.

Take, for example, artificial intelligence in healthcare: innovators in the industry are already using AI to predict the likelihood of disease. Intelligent analysis of large amounts of data can also help identify the causes of diseases and how to treat them.

In order to solve the infrastructure challenges of our cities, 5G can contribute significantly, e.g. through networking of intelligent vehicles with road network systems, traffic can flow more efficiently. This has a positive impact on the environment.

Emerging technologies also create new employment opportunities. A 2017 study by Accenture Strategy estimated that smart city applications enabled by 5G networks could create three million new jobs over the next seven years.

It will certainly take some time before we can fully exploit the potential and see concrete applications or business models being implemented.

Are we overusing the term "disruptive innovation"? What is the real impact on value creation and digital growth?

That's a good question, Elise.

I believe that we should pay less attention to buzzwords, but rather to what is actually behind those terms.

Digital disruption addresses the impact of the change processes we are witnessing whenever new technologies penetrate business operations and the market. That sounds a bit scientific [laughs].

However, digital disruption is much more than propagated by analysts and vendors. For most companies, this is now harsh reality causing them to possibly risk falling behind.

Future-oriented CEOs and executives see this situation as an opportunity to develop revolutionary products, services, or even business models, e.g. through innovation within the organization or from outside. Let’s take the Forbes Insights / Treasure Data survey: 57% of surveyed companies promote innovation either through partnerships with, or acquisitions of, innovators, start-ups or disruptive businesses.

The term digital disruption may be worn out by its inflationary use. Looking at the details behind it reveals the true impact on companies and the opportunities for digital growth and value creation.

''Mike spends much of his time helping build high-tech startups in Silicon Valley, Europe and Asia. In selected cases, he also serves as an advisor to companies from traditional industries to help them master digital growth.''