Contributor: John Bishop, Secretary’s Department
World Bank Group President Jim Yong Kim began the session with a one-on-one conversation with Airbnb’s Joe Gebbia. Thereafter, a panel of corporate CEOs discussed the potential for digital technologies to revolutionize development models.
Moderator: Jacqueline Novogratz, Founder and CEO, Acumen
Speakers:
Jim Yong Kim, President, World Bank Group
Joe Gebbia, Co-Founder, Airbnb
Philippe H. Le Houérou, CEO, IFC
Mats Granryd, Director General, GSMA
Eric Jing, CEO, Ant Financial Services Group
Nandan Nilekani, Co-Founder and Chairman of the Board, Infosys; former Chairman of the Unique Identification Authority of India
Sue Siegel, CEO, GE Ventures
Greg Wyler, Founder and Executive Chairman, OneWeb
Key Points:
- -Partnership with Airbnb. Kim and Gebbia discussed the World Bank’s partnership with Airbnb to develop inclusive and sustainable tourism in emerging and developing economies. Gebbia spoke of combining the World Bank’s experience in emerging economies with Airbnb’s expertise in scalable software and open platforms to develop a culture of entrepreneurship in these economies.
- -Internet access. Internet access should receive the same priority as other more traditional development goals such as the provision of electricity and clean water. Wyler and Granryd both viewed adoption of internet and communications technologies as necessary for achieving the U.N.’s Sustainable Development Goals.
- -Digital ID. Nilekani described India’s Aadhar program—which provides citizens with a unique digital ID—as a model for how to drive financial inclusion in the developing world. Furthermore, in the new age of the data economy, the concept of digital infrastructure must evolve to encompass identity, authentication, frictionless payments, and paperless transactions. The Aadhar program has been adopted by more than 1 billion citizens and has saved India’s government US$9 billion in fraud and waste.
- -New data economy. Nilekani argued that the fundamental issue for the new data economy was how to use data to address inequality, and how to create business models and an architecture that would people to leverage their personal data to improve their lives.
- -Privacy. Issues of data privacy will become increasingly important as digital development marches forward. Granryd noted that local solutions would initially be found to some of these issues, but that ultimately a global framework for data privacy would be required. These thorny issues notwithstanding, there was great potential to harness big data to address social issues such as pollution and health care delivery.
- -The industrial internet. The first phase of the internet’s development was mostly focused on empowering consumers, according to Siegel. However, the industrial internet—the so-called “internet of big things,” a digital industrial world where machines are connected to the cloud—is beginning to come of age. Applying the same analytics found in the consumer internet to the industrial internet could lead to innovations in energy, health care, education, and many other industries.
Quotes:
“My belief is that when a company reaches a certain stage, there’s a responsibility to give back, not only through check writing…but to go above and beyond and share what it is you’re best at with those who need it the most.” Joe Gebbia
“The internet is foundational to everything…It’s oxygen for everybody.” Greg Wyler
“I’m a great believer in the digital economy for development. Particularly for developing economies, where there are no legacy systems, it’s easier to build systems that can leapfrog.” Nandan Nilekani
