| | June 16, 2019
For those of you who joined us at this year's Most Powerful Women International conference in London, we hope you enjoyed it as much as we did. For those who couldn't be there, here's just a taste of what you missed. | |  | LEADING TOGETHER
Earlier this month, we gathered key policymakers and C-suite executives from a number of industries at the Rosewood London to share views on—and discuss the risks of—emerging technology, trade, diversity, and scaling a business. | | | 14 INSIGHTS YOU NEED TO KNOW
Tools or threat? As law enforcement embraces technology like facial recognition software, concerns grow about privacy and racial profiling. But the top official at London's Metropolitan Police said the public expects usage of such technologies in the pursuit of terrorists, as long as it is properly overseen and circumscribed.
The U.S. still leads in tech. The U.S.-China trade battle plays out over U.S. fears that China will displace it as the global dominant player in tech. Morgan Stanley's CEO, China, offered assurances: While China is ahead on consumer-facing apps, enterprise IT investment is only 18% of that in the U.S.
Everyone into the stream. British broadcasting giant ITV is going with the flow initiated by Netflix—now joined by a range of broadcasters—with the launch of its streaming service BritBox in partnership with the BBC: "Viewers are finally ready to pay for TV again," said ITV's CEO. | | | | AI's real risks are human. Never mind robots. More concerning is a lack of diversity among programmers who create AI algorithms, which create bias in the data. Inadequate tech education also threatens to create a dangerous divide between the digitally literate and illiterate.
Trade tensions haven't toppled the economy. Talk of a global economic slowdown over trade-war jitters may be overblown. Consumer-facing companies are still growing, and plenty of evidence points to a strong economy—but emerging isolationist trends could be a threat.
Africa is ripe for technology. Facebook already has 145 million users on the continent but still considers the region under-connected. Potential in Africa abounds for tech companies, but they must distinguish among its 54 different countries, and talk to people in their own languages.
Pushing back on populism. The European Commissioner who designed the EU's landmark data privacy legislation has used President Trump's rise in the U.S. to push more women into politics, and says the far-right's unexpectedly poor showing in recent European elections demonstrate that populism can be halted.
Digital startups at legacy banks. Leumi Bank, at 120 years old Israel's oldest and largest bank, has launched a mobile-only bank, Pepper—which makes it the country's youngest bank, too. Long-established financial institutions can transform from within by committing capital resources, building new systems and guiding company culture.
Fundraising goes big and stirs controversy. Recently venture capital funds have begun making huge investments in just a few startups, to help them stay private longer and go global more quickly. Yet critics say it can unnecessarily inflate valuations and make it harder for smaller, less funded startups to compete.
Brexit will cripple British trade—even with a U.S. deal. President Trump maintains that a U.S.—Britain trade deal could more than make up for Britain's EU trade losses post-Brexit. But a former U.K. trade minister warned that Brexit would reduce U.K. GDP by 2% to 8%, while U.S. trade would provide less than a 1% gain.
A humanitarian crisis crying for attention. The worst place for children today is Yemen, where war has raged for five years without intervention by the U.S. or other countries, declared the CEO of Save the Children. She urged "the international community to do something."
Diamonds: engineering brilliance. Swarovski is known for its high-end crystal jewelry. Now the founder's great-great-granddaughter is leading efforts to mine diamonds in-house—by creating stones in a lab that are bio-identical to the real thing. Threatened diamond producers are responding with their own lab-grown gems. | | | | Sustainable fashion = high-quality goods. Luxury brands should embrace the consumer shift toward purchasing fewer fashion items and wearing them more, said two executives from high-end accessory makers. Though margins will take a hit as supply chains are adjusted, the ethos fits luxury fashion's emphasis on craftmanship and storytelling.
Celebrating diversity with a trans spokeswoman. In the U.S., a Gillette commercial features a father teaching his teenage trans son how to shave. In the U.K., trans rights campaigner Paris Lees is now the face of Pantene hair care. Both moves are motivated by Proctor & Gamble's push for stronger identities around its brands.
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