Sector waves: The future of...

This session focused on key themes in the future of finance, healthcare, consumer goods, and energy, and one overwhelming finding was looking beyond your industry for innovation, as the ideas and technology for your industry’s next innovation may already be out there. Taking healthcare as an example, patient care will extend to virtual human avatars, chatbots, and apps that connect to implants as a way to counter the predicted shortfall of 18 million workers by 2030, according to the World Health Organization. This global risk of shortages in healthcare workers, combined with a current workforce that’s increasingly unevenly and inequitably distributed, creates a sector in urgent need of disruption. The convergence of tech and healthcare, through the use of augmented and virtual reality during surgery, provides the incredible potential to share knowledge, encourage collaboration, and help drive a consistent level of care globally and safely.

Regulation, nationalism, and digitization are strong catalysts for disruption across industries. We deep dived on the payments technology landscape and how regulators are struggling to keep up with the seismic changes. We heard how the technology will quickly be replaced, and our panel noted that new business models would emerge—and endure. Partnering will be central to new business models, which businesses are using to invest in technology and value-added services that go beyond their core business, as part of their broader vision to increase market share and stay relevant. For example, what we understand as a “bank” today will cover a broader range of organizational setups tomorrow as traditional banks, digital banks, and technology giants provide the same customer services and products.

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