From 600+ conversations with the world’s leading thinkers.
I lived the change. My company was a way of, as they say, 'scratching my own itch.' I wanted to be able to go on working myself, and I realised that a lot of other women would have had comparable aims and desires.
My mind just never stopped thinking about what we could be doing next.
That is my courage – I see things thanks to young people around me, and go forward fast, implementing before others do.
Incumbents are not doomed, and disruptors are not ordained. When we started our research, we thought that all these new Silicon Valley businesses were going to come in and destroy the incumbents. What we actually found was that a number of incumbents were doing things that really allowed them to respond and be ready for change.
The potential for blockchain is to accelerate the digitization of financial markets. Blockchain gets everyone excited as it has the potential to convene these different parties together to reach the necessary agreements, in that sense it is a unique enabler, a coordination mechanism. That has massive implications on the structure of our financial markets.
We are now at the same crossroads, with impact. There is an interesting parallel here with 1933, when we introduced the GAAP. Until then, there had been no real transparency on profit! After the Great Wall Street Crash of 1929, investors sat-up and said 'hey, this is crazy!' and they got transparency through the adoption of GAAP.
Asia region countries are able to shave not just 10% off process-costs versus their western counterparts, but often 60-80%, often bringing great improvements and advantages in the process. This ensures they are more agile and able to sustain competitive advantage through continual innovation.
The block chain or general ledger could be a secure repository of private information, property ownership, and conditional contracts. For example, consider buying a car. The dealership sells it to you and it goes into the block chain. You have a private code that identifies you as the owner.
You could take a sword from one game and move it to another. In the events industry, you can imagine having event tickets operating as these collectible, persistent, immutable objects you can carry between markets, with different benefits… potentially even being redeemable against real-world assets.
An example of this successful approach was our first enterprise private 5G launch, which we achieved remarkably fast – from ideation to market-ready delivery in just six weeks. This achievement highlights the effectiveness of our strategy in driving innovation at speed.
As a large company CEO, I believe one of the most critical roles is driving innovation and transformation. In fact, the CEO has to be the 'Discoverer in Chief.' Over time, a divide often forms between the discovery people and the delivery people. The language of discovery is imaginative and poetic—'imagine if,' 'what if we tried this?'—while the language of delivery is pragmatic and data-driven—'prove it to me,' 'show me the numbers.'
Once you're able to reduce the human element, and automate the reporting of these statistics- you will be greatly reducing the potential for misbehaviour. This is where regulators can leverage technology, reduce their burden.