Second Digital Economic Forum Technological change is progressing exponentially

The DEF, which took place this year on Wednesday at the Park Hyatt in Zurich with over 200 interested parties, sees itself as a decisive update for innovations and the consequences of digitalization.

The 4th industrial revolution, digital transformation, disruptive economy and the positive and negative effects on the economy, jobs and society were the focus of the two-day meeting with influential international thought leaders as well as entrepreneurs, start-ups, CEOs, researchers and consultants from the digital and analog world. For futurist Gerd Leonhard, we are undergoing exponential technological change, data is the new oil and science fiction is becoming science fact. In five years' time, Leonhard predicted, a computer will have the capacity of the human brain. And the world will change more in the next 20 years than it has in the last 300.

Today, everything is assessed automatically, ratings are now everywhere and "privacy is dead", explained the successful American author Erik Qualman at the media roundtable. This automatically gives companies and private individuals a digital footprint or a digital stamp. All data is recorded and evaluated, from economic and personal behavior to health status and economic performance. Qualman believes that the combination of offline and online is eminent and that it is very important to actively influence the digital stamp yourself and not let it be determined from the outside. It is important to focus on what is important and simple. Break / Through CEO Reto Schnyder also made it clear that the indirect effects of digitalization are greater than the direct effects, e.g. autonomous mobility on the real estate and employment market. For German crime writer Veit Etzold, in a digital world with ever more information and ever shorter attention spans, those with a good story will still be heard, understood and bought.

Big Data and Consumer 2.0

Communications specialist Julius Van de Laar explained his strategy for US President Barack Obama's successful 2012 election campaign, which was based on big data and tools for integrated campaign management. "No matter what you do, you must remain authentic, even on social media," Van de Laar concluded his presentation. Science fiction is now reality, explained digital disruption and transformation consultant Kamales Lardi. She presented the "disruptive consumer 2.0" and essential technological trends. The consumer has changed significantly with technological innovations. The question now is to what extent producers and companies have also changed. Industries are being dragged into a digital storm and companies and start-ups that have weathered this storm are acting in a consumer-oriented manner and will have a major impact on future economic development. Brain researcher Pascal Kaufmann did not believe that independent artificial intelligence could be realized in the near future. However, he propagated so-called corporate cyborgs (a mixture of man and machine) that could be developed in Switzerland through research into artificial intelligence. The engine of the digital revolution is the human brain, Kaufmann explained.

Mastering the digital future

Andreas Krebs, Chairman of MERZ Pharmaceuticals, pointed out that no CEO of a major pharmaceutical company could currently say with conviction that their company had a digital strategy. He considered it very important that pharmaceutical companies guide patients through the digital world and bring them to the doctor via this route. In two times three business tracks, various companies demonstrated their successful approaches to mastering the digital future and in the plenary session, Ali Mahlodji gave a convincing presentation of his motivation to turn a childhood idea into a success story with the storytelling platform Whatchado.com. Behavioral economist Andreas Staub confronted the participants with non-rational decisions. He noted that social preferences remain pronounced and that digital anonymity is not relevant. People therefore remain human even online.

The DEF kicked off on Tuesday with a highly communicative Carsten Maschmeyer. In an entertaining overview of fintech and the state of the banking world, the German investor anticipated a breathtaking technological development with young, bold and innovative entrepreneurs. Maschmeyer believes that traditional banks are in danger of being left behind in the face of innovative developments outside of licensed financial services. As an investor, he concentrates on creative product makers who are more important to him than the product and their solutions for successful sales and marketing, said the dazzling entrepreneur.