• Reflections on the 4th Industrial Revolution



    The Financial Executives Institute of the Philippines (FINEX) will be holding the 3rd Ayala-FINEX Summit on September 20, 2017 from 2:00 pm to 7:00 at the New World Ballroom in Makati. Under the theme, “The CFO – Catalyst and Strategist in the 4th Industrial Revolution,” the summit will be led by the following speakers: Mr. Arthur Tan, CEO of Integrated Microelectronics, Inc. and AC Industrials, who will talk about the CEO-CFO partnership in the age of disruption; Mr.Suraj Moraje, managing partner at McKinsey, who will discuss the 4th Industrial Revolution, and Mr. Karthik Subramaniam, CTO of Zalora, who will talk about trends in financial technology. FINEX also invited a panel of finance experts: the CFO of ICTSI, Mr. Rafael Consing, the CFO of ABS-CBN, Mr. Aldrin Cerrado, the executive director of JP Morgan, Mr. Timothy Yang, who will discuss how their companies are coping with the changes and disruptions to the 4th Industrial Revolution.

    The seminar will connect the dots into the future and describe how the new norms and realities of the 4th Industrial Revolution could affect all of us. The summit will share how various industries intend to survive and succeed in these fast-changing times.

    Previous industrial revolutions liberated us from animal power and introduced steam and combustion engines. The second brought us the production line and mass marketing. The third brought us the internet and changed the way we communicate. The fourth is fundamentally different, as characterized by a combination of new technologies. It combines the physical and the digital world. It extracts from the latest biological findings. It impacts all disciplines and affects economies and has the potential of re-defining entire industries. With artificial intelligence, it also challenges the very nature of our existence.

    The shifts and disruptions will provide us with great opportunities but will also expose us to greater risks. The potential to connect the entire planet over the cloud will dramatically improve the efficiency of organizations to connect the entire supply chain of any organization. It will even allow us to manage assets that can lead to a much more sustainable life on this planet.

    The rewards and the risks will be greater. Entire organizations and even government have recently experienced attacks on the web. We need to regulate new technologies while at the same time embrace them. The shifting power that this 4th Industrial Revolution will bring in new winners, as well as losers in this environment. This summit will attempt to provide new insights on how we can all benefit from this changing world.

    Ronald Goseco is currently the executive vice president of FINEX and president of IDI-VW. The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of FINEX. FINEX Files is a rotating column among members of the Financial Executives Institute of the Philippines appearing every Friday in The Manila Times, business column section.


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