The profound changes expected in a new era of advanced technologies and the unprecedented speed of change will require leaders of Industry 4.0 to be agile and adaptive while still keeping in view the mission that drives their corporate existence, agreed panellists in a session on leadership at the Annual General Meeting of the New Champions, which closed today.
Michelle Zatlyn, Co-Founder and Chief Operating Officer of Cloudflare, said her definition of leadership – the act of motivating a group of people towards a common goal – has not changed. However, she underlined the “certain risk of disruption” if leaders and their organizations do not respond with great agility.
Huang Yiping, Deputy Dean of the National School of Development at Peking University, agreed, noting that those who are innovative and flexible will have a higher chance of surviving the dynamism of the Fourth Industrial Revolution. He expressed concern about unbridled growth, underlining the need to temper the rapid rate of innovation, particularly in the fintech sector, with risk management before another major failure undermines consumer and investor confidence.
Suphachai Chearvanont, Chief Executive Officer at CP Group, emphasized the need to retain a sense of mission and values, especially at a time when chaotic changes are putting ever increasing pressures on leaders.
The command-and-control structure that informs decision-making will have to give way to a more bottom-up approach that empowers employees to participate in a more free-wheeling environment. Zatlyn, however, is unsure that the much-hyped “leading without leaders” style of start-ups is necessarily more effective in fostering agility. “You want agility but you don’t want a whiplash,” she said.
Organizations of the future will be learning organizations, said John Meacock, Global Chief Strategy Officer at Deloitte, who stressed the importance of proper planning and strategy notwithstanding the constant changes and challenges ahead.
Outcomes from the meeting include:
The Government of the United Arab Emirates joined the Forum’s Closing the Skills Gap initiative, launching an accelerator programme that will be stewarded by the country’s Minister of State for Higher Education and Advanced Skills.
Leaders in the health and information technologies sectors shaped and committed to developing EPI-BRAIN, a first-of-its-kind data innovation platform to predict and forecast epidemics.
The Forum announced it will open a branch of the Tropical Forest Alliance in China. The Alliance is an initiative led by the World Economic Forum that aims to remove deforestation from commodity supply chains.
Bahrain will pilot a set of guidelines for the ethical procurement of artificial intelligence developed by the UK and the Centres for the Fourth Industrial Revolution Network (announced at last year’s Annual Meeting of the New Champions).
The Inter-American Development Bank (IDB) will use the newly launched Blockchain Single Trade Window framework, developed by IDB and the Forum, to pilot blockchain projects that improve border clearance, and will share lessons and best practices.
Fahad Almubarak, State Minister, Member of the Saudi Council of Ministers, Saudi G20 Sherpa and Secretary-General of the G20 Saudi Secretariat, chaired a consultation session with Asian stakeholders to gather input for the agenda of its G20 presidency, starting in December.
Business for Nature, a global coalition to elevate the business call for comprehensive action to reverse nature loss and restore the planet’s vital natural systems, was launched on 2 July.
A first advisory meeting took place to provide strategic direction to the 28 financial institutions that have signed up to a set of Green Investment Principles. The principles, drafted by a coalition including the Forum, the Green Finance Committee of China, the Society for Finance and Banking and the Green Finance Initiative of the City of London, aim to serve as a voluntary standard for investment into the Belt and Road Initiative.
As part of a wide-ranging memorandum of understanding between China’s Ministry of Ecology and the Environment (MEE), the two partners announced:
A collaboration in support of the 2020 Biodiversity Conference of Parties in Kunming, China; the agreement will see the formation of a new community and the publication of a report, The New Nature Economy.
The Forum also joined the Green Belt and Road Coalition, which will see collaboration with MEE on a number of thematic partnerships, including Environmental Information Sharing and Big Data; Biodiversity and Ecosystem Management; Green Finance and Investment; and Green Technology Innovation.
South Korea joined the Forum’s Centres for the Fourth Industrial Revolution Network.
The Forum’s Global Future Council on Agile Governance piloted a new tool, endorsed by the Government of the United Arab Emirates, to help policy-makers and regulators avoid being left behind by rapid technological change.
The Infrastructure and Urban Development community formed a task force on Risk Allocation and Mitigation to make infrastructure collaborations between the public and private sectors more equitable, future-proof, socially endorsed and immune to political cycles.
An App to Ease Safety QR Check-Ins Wins the 2021 APEC App Challenge
An app that makes it easy for people in the region to do their safety QR code check-ins, developed and designed by a team from Australia, has won the 2021 APEC App Challenge, held on the eve of the 2021 APEC Ministers Responsible for Trade meeting (MRT). The announcement was made by Damien O’Connor, New Zealand’s Minister for Trade and Export Growth, who chaired the meeting.
In its fifth year, the APEC App Challenge asked software developers and designers from across the region to build new mobile and web tools that can help the revival of the tourism sector and promote a safe and trustworthy travel environment, especially as the APEC region prepares for a resumption of travel.
The APEC 2021 host economy, New Zealand, has based the competition on a key priority for the forum this year: pursuing innovation and a digitally enabled recovery.
“As member economies work to facilitate the movement of people around the region, it is important to pursue digital tools that support the resumption of travel—when the time is right,” said Minister O’Connor.
“The safe resumption of cross-border travel will be critical to the region’s recovery,” Minister O’Connor said. “Returning to sustainable tourism numbers will support a wide range of businesses, boost employment, and underpin inclusive growth.”
Bryce Cronin and Saira Ambrose, who are from Australia, developed the OneQR Check-In app to help travelers scan and complete their safety check-ins quicker no matter the destination in the region. The winning team will receive a prize of USD 4,000.
“Around the region, people now need to do a safety check-in using a QR code before entering a venue,” said Ambrose. “As we prepare for a safe resumption of travel, QR check-ins will play an even more prominent role.”
The app works by showing travelers what QR check-in app they need to use or install when they travel to a different location. If the local check-in app has been installed on the traveler’s phone, OneQR will redirect travelers to the app. If not, OneQR will direct travelers to the phone’s app store to install the local safety check-in app.
“We believe that the safety check-in process should be quick, easy and simple,” Cronin explained. “Our app aims to assure travelers and hopefully contribute to building back the confidence of the tourism sector both for businesses and travelers.”
Seirios, an app to help travelers rediscover local attractions with a COVID-19 safety rating, by an Australian team won second prize. Wanderer, an app that offers a safer shopping experience, by a Malaysian team won the third prize of the 2021 APEC App Challenge. The developers of Seirios and Wanderer will receive USD 3,000 and USD 2,000, respectively.
“The APEC App Challenge is not only a creative competition for young software developers and designers,” said Dr Rebecca Sta Maria, Executive Director of the APEC Secretariat, “it is a critical measure for addressing the current challenges within APEC where we need to bring together various stakeholders in the region, including the youth, to solve the biggest economic and health crisis of our generation, together.”
“This year’s App Challenge has highlighted an issue we’ve all been wondering about: how can we help generate income in communities that are heavily reliant on tourism and have been hit hard by the pandemic?” said John Karr, The Asia Foundation’s Senior Director of Technology Programs. “Participants have developed a range of solutions that highlight the ability of digital tools to help people discover safer and more local recreation opportunities, and—where it’s possible—get people moving again.”
“Tourism is vital to local economies and livelihoods across Asia-Pacific, and the impact of the pandemic has hit regional communities and small business owners especially hard,” said Scott Beaumont, President of Google Asia-Pacific. “There is a long road to recovery, but technology can help the industry rebuild and emerge stronger—and these brilliant developers are showing us the way.”
Commission proposes a trusted and secure Digital Identity for all Europeans
The Commission today proposed a framework for a European Digital Identity which will be available to all EU citizens, residents, and businesses in the EU. Citizens will be able to prove their identity and share electronic documents from their European Digital Identity wallets with the click of a button on their phone. They will be able to access online services with their national digital identification, which will be recognised throughout Europe. Very large platforms will be required to accept the use of European Digital Identity wallets upon request of the user, for example to prove their age. Use of the European Digital Identity wallet will always be at the choice of the user.
Margrethe Vestager, Executive Vice-President for a Europe Fit for the Digital Age said: “The European digital identity will enable us to do in any Member State as we do at home without any extra cost and fewer hurdles. Be that renting a flat or opening a bank account outside of our home country. And do this in a way that is secure and transparent. So that we will decide how much information we wish to share about ourselves, with whom and for what purpose. This is a unique opportunity to take us all further into experiencing what it means to live in Europe, and to be European.”
Commissioner for Internal Market Thierry Breton said: “EU citizens not only expect a high level of security but also convenience whether they are dealing with national administrations such as to submit a tax return or to enroll at a European university where they need official identification. The European Digital Identity wallets offer a new possibility for them to store and use data for all sorts of services, from checking in at the airport to renting a car. It is about giving a choice to consumers, a European choice. Our European companies, large and small, will also benefit from this digital identity, they will be able to offer a wide range of new services since the proposal offers a solution for secure and trusted identification services.”
The European Digital Identity framework
Under the new Regulation, Member States will offer citizens and businesses digital wallets that will be able to link their national digital identities with proof of other personal attributes (e.g. driving licence, diplomas, bank account). These wallets may be provided by public authorities or by private entities, provided they are recognised by a Member State.
The new European Digital Identity Wallets will enable all Europeans to access services online without having to use private identification methods or unnecessarily sharing personal data. With this solution they will have full control of the data they share.
The European Digital Identity will be:
- Available to anyone who wants to use it: Any EU citizen, resident, and business in the Union who would like to make use of the European Digital Identity will be able to do so.
- Widely useable: The European Digital Identity wallets will be useable widely as a way either to identify users or to prove certain personal attributes, for the purpose of access to public and private digital services across the Union.
- Users in control of their data: The European Digital Identity wallets will enable people to choose which aspects of their identity, data and certificates they share with third parties, and to keep track of such sharing. User control ensures that only information that needs to be shared will be shared.
To make it a reality as soon as possible, the proposal is accompanied by a Recommendation. The Commission invites Member States to establish a common toolbox by September 2022 and to start the necessary preparatory work immediately. This toolbox should include the technical architecture, standards and guidelines for best practices.
In parallel to the legislative process, the Commission will work with Member States and the private sector on technical aspects of the European Digital Identity. Through the Digital Europe Programme, the Commission will support the implementation of the European Digital Identity framework, and many Member States have foreseen projects for the implementation of the e-government solutions, including the European Digital Identity in their national plans under the Recovery and Resilience Facility.
The Commission’s 2030 Digital Compass sets out a number of targets and milestones which the European Digital Identity will help achieve. For example, by 2030, all key public services should be available online, all citizens will have access to electronic medical records; and 80% citizens should use an eID solution.
For this initiative, the Commission builds on the existing cross-border legal framework for trusted digital identities, the European electronic identification and trust services initiative (eIDAS Regulation). Adopted in 2014, it provides the basis for cross-border electronic identification, authentication and website certification within the EU. Already about 60% of Europeans can benefit from the current system.
However, there is no requirement for Member States to develop a national digital ID and to make it interoperable with the ones of other Member States, which leads to high discrepancies between countries. The current proposal will address these shortcomings by improving the effectiveness of the framework and extending its benefits to the private sector and to mobile use.
Carbon neutral nickel and tokens – Russian Norilsk Nickel 2021
Russian mining giant Norilsk Nickel plans to produce the first batch of carbon neutral nickel this year and is expanding its participation in blockchain platforms, company officials said.
Over the past two years, Norilsk Nickel has reduced its carbon footprint by more than 70,000 tonnes and plans to produce the first batch of carbon-neutral nickel in the near future, Interros head Sergey Batekhin told reporters.
Interros, Norilsk Nickel’s largest shareholder.
The “green” status of these products of the company will not be ensured by offsets, but through a certain set of measures that made it possible to offset the carbon footprint of this batch. In early June, the company’s board of directors approved a new environmental strategy aimed at further reducing emissions and improving energy efficiency. At present, Norilsk Nickel is in the lower segment of the global indicators of the intensity of greenhouse gas emissions and is the leader in the use of renewable energy sources: in 2020, the share of electricity obtained from renewable sources amounted to 46% for the group as a whole. According to Batekhin, the carbon neutral metal will be in demand by the world’s most demanding manufacturers such as Tesla, Apple and others, especially in anticipation of the carbon tax that the EU plans to introduce from 2023.
This is also facilitated by additional projects that could be operational by 2025, further reducing the carbon footprint. For example, the transition of a part of mining equipment to NGV fuel.
Norilsk Nickel is preparing to build an LNG plant. The project is expected to be completed within 3-4 years. The commissioning of the plant will be synchronized with the peak of the use of large equipment in mining pits in 2024-25.
Interros also entered the consortium of investors for the Atomyze blockchain platform, Batekhin said.
Atomyze deals with the tokenization of physical assets, that is, the translation of them into digital form. One of the first issuers of Atomyze was Norilsk Nickel, which last year issued tokens for its metals on this platform. Tokens are actively traded on the London and Frankfurt stock exchanges; they are planned to be placed on other world platforms. “Own platforms for tokenization are an element of a full-fledged infrastructure of the digital economy, which is important from the point of view of ensuring digital equality of Russia with the world’s largest economies,” Batekhin said. The Atomyze platform exists in American and Swiss jurisdictions pending permission from the Central Bank of Russia. At the end of May, the Russian Union of Industrialists and Entrepreneurs asked the Central Bank to speed up the licensing of tokenization platforms in Russia.
Earlier, Norilsk Nickel, the world’s largest producer of palladium and nickel, has issued the first tokens involving metal contracts to its major industrial partners Traxys SA and Umicore SA.
Norilsk Nickel was one of the first in the industry and in the world to launch this mechanism.
Atomyze uses Distributed Ledger Technology (DLT) to tokenize assets in digital form providing accessibility, reducing costs, and increasing transparency. GPF, the platform’s first client, is issuing tokens covering the whole range of metals produced by Nornickel — via the Atomyze tokenization platform operated by Tokentrust AG.
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