After so much talking about the changes coming with the development of digital technologies almost all of us now realize that we live in the time of the Fourth industrial revolution. Much has been said about the top tech innovations that are going to change the way we live, but the topic of the responsibility of corporations that are the driving force of those changes somehow remains aside from most of the discussions.
During this year’s Webit.Festival Europe the question was raised by the CEO of BulPros Ivaylo Slavov – a highly qualified entrepreneur and corporate executive, specialized both in developing startup and established organization. He has been working in different managerial roles at Microsoft, Adecco, SEB, Unisys, Comparex (PC Ware) across EMEA.
BULPROS is an international IT Solutions, Products & Services Corporation, specialized in Cloud, Security, IoT, Big Data and Analytics, Collaboration and Digital Transformation. The company is focused on Technology and Telecommunications, Financial Services, Insurance and Healthcare.
The company is one of the fastest growing technology enterprises in Central Europe according to Deloitte’s latest report “Technology Fast 50 in Central Europe” and “Technology Fast 500 in Europe, Middle East, and Africa”.
Slavov pointed out several examples of former market giants, such as Borders bookstores, Kodak and Blockbuster LLC that didn’t manage to go through the process of digital transformation on time and were forced to file for bankruptcy.
“All these examples show us that we can’t stop the disruption. Today we are in a phase where the disruption can’t be stopped. We are in the phase of the Fourth industrial revolution. And my question to all of you here is what we do about the global governance”, he asked.
The executive is certain that in the time we live in corporations have the opportunity and responsibility to create a world with equitable participation of all people in formal and societal governance in accordance with principles of justice and individual rights, free from discrimination and identity-based prejudices.
He thinks that the power of private initiative will enable the big tech companies to meet the needs of an exponentially changing world.
According to him, measuring the exact impact of the upcoming changes to our life is crucial for every player on the market. The reason is that the exponential changes that we are going to experience in the next decades will affect not only entertainment and software development and infrastructure, but also our jobs, the way we use transport, communicate and understand the world around us.
“We have more than 7 billion people around the world which are living under different social conditions. We have many individuals that will potentially be affected by automation. We have many situations which could be changed dramatically in terms of losing jobs and understanding how those things will develop”, he said.
Slavov believes that all these questions must be raised by corporate leaders and policy makers around the world along with the discussions about the digital transformation. From his experience of local and international seminars, even the big brand executives still are not able to make long-term predictions about the landscape in their markets and the future of their teams and companies after 10 or 15 years.
He pointed out the differences between the Dot-com revolution he was a part of 19 years ago and said that the biggest problem then was the lack of connectivity and global access to technology.
In contrary, the then developed technologies, like the cloud computing, now enable corpоrations to implement their innovations at a larger scale than ever before. In the same time, thousands of startups and companies are disrupting each and every process in each and every industry using these resources.
The executive thinks that world’s leading companies must start asking themselves what role they have to take in the global governance from social, practical and educational side, so that the 7.2 billion people on the planet are treated well and have equal chance for development.
You may watch his full lecture here:
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Feel the Webit vibe with some of the best photos from this year’s event!