Deloitte x WEF 2019
- Livestream: Industry 4.0 readiness in Asia Pacific through four areas of impact: Society, Strategy, Technology and Talent
- Deloitte leader in the news at WEF
From 22 to 25 January, a delegation of Deloitte's global leaders is attending the World Economic Forum in Davos, Switzerland.
Global CEO Punit Renjen and Asia Pacific Chief Executive Cindy Hook are among those joining fellow international business leaders as they discuss the 4th Industrial Revolution (4IR), millennials and new workforce expectations, inclusive capitalism and more.
Launched in conjunction with WEF, the Deloitte 2019 Readiness Report explores how more than 2,000 C-level executives across 19 countries are preparing their organizations for success in 4IR.
Deloitte Global Vice Chairman and Deloitte China Chairman Philip Tsai, as well as Deloitte Asia Pacific Clients & Industries Leader and Deloitte China Vice Chairlady Vivian Jiang are meeting key clients during Davos, discussing with them how to build world-class Chinese companies in Industry 4.0 and beyond.
Philip also attended another panel session on whether business leaders are ready for the 4th Industrial Revolution. He agreed that Industry 4.0 is a revolution, not an evolution of the ecosystem. It is also a combination of Technologies, Mobility, 5G/Big Data, Robotics, AI and Augmented Reality (AR). It is unlikely that there will be massive job losses, but we need to see how to re-educate and prepare the workforce for the skill and experience gap.
Livestream: Industry 4.0 readiness in Asia Pacific through four areas of impact: Society, Strategy, Technology and Talent
On 22 January, Deloitte Asia Pacific Chief Executive Cindy Hook hosted a panel—Industry 4.0 readiness in Asia Pacific through four areas of impact: Society, Strategy, Technology and Talent—inspired by our 2019 Industry 4.0 Readiness Survey at the World Economic Forum (#WEF) in Davos, Switzerland.
According to the panelists, companies and governments must work together in the Industry 4.0 era to ensure all of society benefits from its advances.
Furthermore, data must be accessible to enable companies to make smarter strategic decisions, leading companies should share their expertise with SMEs, and talent development should focus on upskilling in multiple areas—not only technology, but also logical thinking, sensitivity and creativity.
If these four things don't occur, the panelists suggested, it could lead to divisions between the technology haves and have nots.
Deloitte leader in the news at WEF
Vivian was also interviewed by CCTV, sharing her insights on Industry 4.0 and other hot economic issues. She suggested the service industry will become a major economic driver for China and other neighboring and emerging economies. Vivian is highly confident in the development potential of China's service industry, which depends on a strong talent pool and continuous optimization of the business ecosystem.