Okay. Okay. Good afternoon everybody. My name is swept. Or college here at the University of Delaware. And it's my pleasure to welcome you to our final lifelong. Webinar, the academic year 2020, 2021. We've been doing this every month since the fall. And it's been a wonderful opportunity for us to showcase learner faculty, learner alumni that are providing cutting edge ideas around business management topics to help guide all of us through what's been a challenging and highly disruptive year in our own lives, but also in the lives of the firms and business organizations that we work with and that we do research on. So I'm really pleased that we've got this is our final topic for the year as disruptive technology. The digitization of business is a huge and ongoing topic for any business school student or scholar of business activities. I think one of the things in, in the world of technology that we sometimes forget is how far back the history of these concepts actually goes. We're so impressed and marvel at machine learning and artificial intelligence and things that the cutting edge. There is a fairly long history of this topic of disruption. And it actually can be traced back to some of the work that economist Joseph Schumpeter wrote about back in the 940. It's looking at the industrial revolution and coming up with the concept of creative destruction to describe what happens when a new technology comes along and basically provides a substitute to an existing way of carrying out a business activity. And my own academic research actually began with a study of the London Stock Exchange, which in 1986 went through a series of technology developments that lead to their trading floor closing. In a matter of two or three weeks, very sudden and disruptive initiative, the volume of trading went up, the activity levels and price levels increased in London. However, the trading activity no longer took place on a trading floor with people working with one another and pieces of paper, it had gone electronic. You see this as well in industries like encyclopedias. When I was a child growing up that the thing a lot of parents would do for their children was by a set of 25 encyclopedias to put into the house and put up on the bookshelves for schoolchildren to refer to as they were doing school projects and other activities. So Encyclopedia Britannica sold this set of encyclopedias for over $2 thousand for decades. Yet today they no longer publish a physical encyclopedia and these sources of information are now online. So this is a terrific topic that has applications in many industries. Travel, newspapers, television, films. If you think of Netflix displacing blockbuster, this is going to be affecting many, many industries and many different kinds of professions will need to be aware of and respond to disruptive technologies in the future. So we've got a great topic for you today and we've got a wonderful moderator. And my good colleague, Professor on drab or our who's the director of our MS program and Business Analytics and Information Technology. She's the associate dean of our learner undergraduate programs and a professor of MIS who joined learner after completing her PhD at the University of Pittsburgh in 2003. So welcome to the panelists and Andrea, the the, the panel is turned over to you now. Thank you Bruce so much. I am grateful to be included in lifelong learner webinar series. And what an excellent way to cap off the series with this May Webinar on disruptive technology. As Bruce mentioned, I am Dr. Ryan, Professor of Management Information Systems in the Lerner College of Business. And today I will serve as the moderator for today's webinar. Before we dive into disruptive technologies, I would first like to take this opportunity to welcome faculty, staff, students, alumni and friends of UD and learner. Thank you for joining us today. Now, let's think about disruptive technology. And Bruce gave us a wonderful introduction. And disruptive technologies, we can think of them as some kind of innovation that significantly alters the way that consumers, industries or businesses operate in their own times. The automobile, electricity services, tv, these were all disruptive technologies. As Bruce mentioned, companies such as Encyclopedia Britannica and Blockbuster were overtaken by disruptive technologies in 2021. A disruptive technology, let's think of it as an innovation that creates a completely new market. Completely new value network and eventually disrupts that existing market and value network. Does that displacing established market leading firms, products and alliances. To discuss disruptive technologies with me today, I am delighted to introduce you to our terrific panel for today's discussion. I'm especially proud that today's three panelists are all learner graduates. We have Sergio Alvarez, who's a senior associate Project Manager with JPMorgan Chase. We have suited the body as a product manager with Google. And also joining us is ne hygiene, who is a global market development leader with DuPont. I would now like to stop sharing the slides and ask them each in their own words to introduce themselves. Says, yeah. Hello everyone. Thank you, Andrea. Thank you everybody. Welcome to the webinar. So a little bit about myself. I work as a project manager with the investment and trading technology. So I'm very much involved with the world of financial technology, also known as fintech, which is a massive disrupter in the financial services industry. So we're going to be talking about Fintech a little bit today. Thank you. Okay. Hello. Yeah. This is sort of everybody here. And I'm so glad to be part of this webinar today. Just a little bit about myself. I completed my Master of Science from the University of Delaware in 2019 in information systems and technology management. And then once I was done with that, I joined American Express in New York. I was working as a product manager, therefore, their credit and collections department. And then thereafter I move to Google, working there as a product manager in the conversational artificial intelligence space. Welcome to product go dialogflow that, that's like a platform for enterprises to build some of their chat bots and voice assistance. So, yeah, we'll be talking a little bit about how AI is taking part in the whole disruption today. Craig, because me and then they huh? Hey, good afternoon everybody. I'm Jane. I'm the market development leader at the bond for the aerospace business to bond. Before joining the point, I have worked in different industries and markets. I was born and raised in India, so I worked in India, you know, and the energy and oil and gas sector. I came to us, I did my MBA at Udi and graduated 2011 and I was in Dr. Andrea as class, so I'm very proud of that association as well. And then I joined the bond. Before joining the point I was a part of the pharmaceutical world and then gone for the last 10 years. So walk in different markets and disruption influences all these markets in different ways. And technology disruptions are big and they're happening right now. So I'm super excited. Loved topic today. Great. Thank you so much. Know-how. And even though it was ten years ago, I still remember fondly, So thank you so much for being here today. So now, if I could maybe as Sergio, start off the discussion. And you talked about how you are in the fintech space. And I was wondering whether you could share with our audience a little bit about how, how you differentiate the fin techs with the big banks. Okay? So, well, before I give you like a differentiation, as I mentioned before, fintech is a massive disrupter in the financial service industry, but you don't have to take my word for it. So I just would like to share a few quotes here. Jp Morgan's CEO. In the last shareholder letter that went out last month, he says, and I quote, fintech is an enormous competitive threat to banks. Banks are facing extensive competition from Silicon Valley, both in the form of syntax and big tech companies. What does B Tech, big tech companies have to do with it? Think about Apple Pay and Google Pay. Those are not in the financial services, but they are playing a big role in the financial services. He continues this companies are making great strides in building both digital and physical banking products and services from launch to payment systems to invest in. They have done a great job in developing easy to use, intuitive, fast, and smart products. Keep those in mind. We'll come back to those. And last, but the most powerful sentence. Banks are playing an increasingly smaller role in the financial system, unquote. Well, if this is not a big disruption, I don't know what it is, right? So in terms of how does Fintech differentiate from big banks, I like the analogy Andhra, you, you offer to me the other day. If we think about big banks as a large cargo vessel carrying containers, and fintech companies being smaller vessels are boats, right? Being a large cargo vessel has the downside that you have to follow a steady course slowly but surely, no sharp turns. And that really prevents innovation, right? The upside of that is that it takes really a massive storm or read like an economic tsunami to sync this vessel. So therefore, the big banks, they have this reliability, dependability and they represent a lower costs, lower risks service for customers. On the other hand, fintech been a small vessel or boat. They can go many places quickly. They can change course easily. They can adapt fast to the, to the economic weather. So they are very innovative. But the downside of it is that a severe storm, severe economic downturn can wipe them out. So in terms of reliability and dependability, that can be questionable and they provide a higher risk service to customer. Just to give you an example, in March 2020, last year, when the economy took a nosedive, banks held steadily. They have massive cash reserves that they learn from the 2008 financial meltdown, right? So they were prepared syntax on the other hand, while their livelihood was at risk, because Fintech is a cash intensive business, especially the early stage companies. They spend a lot of money with research and development. And for them to achieve profitability, they need large-scale, and that comes very later on on the development stage. So venture capital money on March 2020 dried out very quickly. Be the venture capital companies, they held their money and ran to the hills and to wait for the storm to pass. And that was a problem for, for a lot of the Fin Tech company. So the bottom line is, what is the difference? It's not a David and Goliath story. Not exactly, but rather the financial service landscape is divided in Fintech catering to high volume, low value transactions, because technology allows for the scale. So they cater to individuals, small businesses providing payments, investment, financing, whatnot. And in the other side, big banks, they are focusing a lot more now in the low volume, high value transaction. So they cater to corporations, institutions, high net worth, individuals and families. And they provide the services the fintech cannot provide like IPOs, mergers and acquisition, institutional investing, corporate finance, whatnot. So fintechs not taking over big banks, but rather they're taking a good piece of the markets. They now sharing the marketing in a lot more, let's say equal terms. Thank you Sergio. And I I think again, the the idea of, you know, it's not a David and Goliath type of situation. And so it's not that one is actually going to be taking over the other. The fintechs are not going to erase your big banks. But I think we're seeing that there's definitely a place for both of these. Absolutely. Both have their pros, they both have their their cons. You come into a big storm. Maybe it's better to be a big bank now that we are recovering somewhat. Now the syntax that we're going to talk about some of also the technologies that, that help with these not so much smaller but rather more flexible, more cutting edge type of, of companies. Now if I could bring you into this conversation and I know that most of your experience has not been in the, in the banking industry, but rather in traditional business to business companies. Could you expand on how you see such companies incorporating a disruptive technologies? Absolutely. And thank you because I'm, it's been a decade but I have to go back and think about a gas. If you remember, there was a case study you made us do. It was called a IT doesn't matter. Remember that on and what what it said was that if I still remember it because it's so different today and it's still so relevant. Because what it did, what it was saying, that IT is not going to matter because it's going to be a fundamental change like electricity. So it's going to be an underpinning concept which will lead the industry. It's not going to lead to any other innovations are competitive advantage. But i, y, I want to take up that example is because when electricity happen, the disruption didn't happen immediately in the mid 1800's. Disruptions really happen post industrial revolution. Then you're good. Then the electricity grids happened and the steel industry happened and all that good stuff started happening. We are in that in that exact similar situation, actually a bigger cusp of it because the ID, though, the grooming of the, IT technologies, the AIML that blockchains that Sergio probably would talk about which impacted the Fintech industry biggest, these kind of disruptive technologies that are coming about, the robotics, the technology that I want to end. Impact the pharmaceutical industry in terms of genome sequencing. So these kind of technologies, this foundation, what was done in the early 2000s and we are right now seeing the impact of these technologies in different markets. In a traditional B2B company, these companies play a significant role and that's where I differ a little bit from Sergio, because we often think of them as big ships which can sustain a big storm, but often under prepared for, you know, for these disruptions. And I love about the challenges of big, the B2B traditional companies because there is some stairs, some sense to it. We often think of disruptions and innovations in terms of startup ecosystem. But the role that B2B plays a very significant because what happens is when you have an innovative idea, it's just an idea. But for it to go install them into a disruption and take on the market. That difference is accessibility. Otherwise, you know, the, the, the, the success rate of product development today's 15 to 20 percent, I think sort of be would, could validate that better than I can, but that's a success rate, organic development or outside your company that has a success rate. And for us to be able to see that idea and let it wither away or to take you to the masses. That is a disruption in the Mac computer was not a disruption. The iPhone was, and that was the accessibility. So the B2B companies played a big role that they provide the global accessibility, the global talent pool that takes that innovative idea to the masses and simplify and create value that can serve a bigger audience and a bigger consumer base. And that's the rule. Now the challenges that B2B companies, whether they are in chemicals, are in Weimar else bet is when you want a publicly traded company and you're looking to take on risk, you are asking for investment from a larger set of audience. You have to convince them for investments that as simple as that. So your risk-taking ability depends a lot on your investors. And they, the same risks can be taken much more easier by startup landscape. So when you're going to your investors and asking for money, they'll say, or your customers looking for the solution? Or is your market looking for the solution? So you go to your customers and in a B2B set up, they are also most likely a publicly traded company. What they tell us that you have these kick *** traditional products who are, who are doing a great job. And there is a good enough idea that in a garage somewhere and you want me to spend money there. So the successful B2B companies, how they are looking at it as they are investing, still incubating these ideas. Acquisitions could be one way of doing good. Cohen mentioned could be one way of doing it. There are multiple business models and different companies, big different approaches that make sense to the investors. But the biggest challenge today is to convince your customers who are also publicly-traded, who are also facing the same risks. And convincing them that these traditional pick US products, their biggest threat is not another big kick *** product. It's a good enough idea somewhere. And you can work together to make it more accessible, adding to your portfolio and bring it to the masses. So, so those are the challenges and I think the B2B plays a huge role in the shop and neck is going to come. Great. Thank you. Thank you. And we are going to I'm going to ask Sara me to also kind of comment on this, but then we will, I think very nicely dovetail into this idea of kind of financial inclusion and how the fintechs, and at that point I'm going to, I'm going to come back to to Sergio. But it is always also very validating when somebody remember something that they did in class 10 years ago. And I'm happy that pseudo be who only did a few years ago was also shaking your head when you mentioned the Harvard Business Review article. Id doesn't matter from, from Nicholas Carr. I'm happy that kind of still resonates with you. Should I be? If I could now turn this over to you and thinking about large technology firms. You, you got it again. Do you see them as, you know, how did they incorporate disruptive technologies? And sometimes they are the disruptive technologies. But again, we've, we've heard now kind of two somewhat different perspectives from Sarah's, you and know-how on kind of the role that they play. Yeah. Absolutely. So I can definitely share some some things that are not as either being via Google. Google isn't the technology industry, So, so technology is the core. And one of the guiding principles we have is leading the change. So, so big by leading the change is. Innovating, reinventing, inventing the unknown. So that, that is very much part of the core of the work at Google on how can we solve existing problems or problems in a new way or find, find different ways of doing the same thing in a better way, more, bring in more efficiency. So, so, so technology companies such as Google are trying to solve interesting problems in new ways that brings about disruption, that brings about innovation. And I'd like to refer to 1 that made that a big, big part of bringing disruptive change is accessibility. You know. So, so technology companies these days are recognizing that. And I did say that there are lots of smaller, smaller startups that come up with interesting ideas. You know, that probably started in a garage or technology companies or these days moving forward with either researching on such topics or through the wave acquisitions. For example, the inside of the product that I'm looking on, Google, which I mentioned is dialogflow. That actually originated from Google's acquisition of a company called api dot AI, which was working on improving the way chalkboards communicate with, with end users. So improving the Natural Language Understanding, meeting, making these conversations with chatbots more human-like, non not very, not. You will not really feel like you're talking to a machine. It would be more natural in the way we talk to each other. So, so, so yeah, acquisition is a big way in which technology companies are trying to keep up with new trends, new, new discoveries that maybe some startups are coming up with. And I think even within Google, a bathroom acquisitions that are there multiple teams working on researching these new technologies. Some examples out, you know, basically Google has a separate wing called Google X, where they're looking for what they call it moonshot ideas. Moonshot ideas are basically something that is unimaginable today but could be used for technology in the future. One example of that was the Google Loon project, where instead of having cable, cable's laying cables for internet connectivity, they were thinking of what if we have balloons in the air that, that give up Wi-Fi to do that, that would help improve Internet connectivity and in the most remote areas in an, in an easy way. So, so, so what I'm trying to say is that technology companies like Google, Amazon, et cetera, are investing heavily in, in new disruptive technologies. So here they're trying to lead from that front. Great. Thank You, said Abby. And I've heard now a little bit of a, of a thread where we're talking about accessibility and kind of getting, getting these technologies in helping kind of the masses and then also the idea of, of inclusion. And if I could pass it off again to, to Sergio and I'm thinking about how FinTech companies seem to be so much more able, right? So you have a FinTech solution. You add a mobile phone and suddenly those who may not have bank accounts, those who may not have credit scores, that those who may not be playing in the space of, of big banks. You have now suddenly this opportunity for these individuals to be financially included. Could you speak to that a little bit? Absolutely. So let me start by giving a shocking statistics. 1 third of the world is unbanked. 31 percent to be precise. So they depend uniquely on, on the cash-based economy. And, and usually, while they're not a bank for various reasons, but the most common are they don't have enough money all they don't need an account. Or a family member has a read an account, or accounts are too expensive. Financial institution branches are too far away, or they lacked the necessary documentation, or they don't trust financial institutions. There are several reasons. But if you think about it, if you think about a fintech app on a cell phone, a lot of these barriers disappear. And that's what we seen, that the Fintech solutions, their game changer for individuals and small businesses, right? Because if they go depending on their financial situation, if they go to a bank, the bank won't even talk to them. It's not worth that time. So so that's when fintech, not only, I mean, he does two things. It not only solves the problem of accessibility team, but they actually provide, let's say, a more efficient solution. That fits the end, that solution fits the budget of the individual are or the small business. So it really opens up a whole world of financial services that was previously not available to this. And, and if you think about it, 1 third of the world, 1.7 billion adults with a cell phone and access to financial services. You add all this one points had an additional economically active people in the world's economy. What the impact of economic growth is, it can be astronomical. So Fintech has really the potential of really democratizing financial services in terms of accessibility, right? Because if you're just a non-bank person, for whatever reason, if you go to a bank, chances are you're not going to get a bank account. So fintech, When we solve that problem, not completely, but to a great extent. Great. Thank you, Sergio. And I'm thinking, I'm thinking back to some habe who works in artificial intelligence, often works with chatbots. And the idea of, you know, maybe you could expand on what role does artificial intelligence clay in this, right? Artificial intelligence is making, making good strides in when it comes to accessibility and inclusion. We're specifically talking about financial inclusion. And some of the ways I've been seeing this trend is, for example, I work on, on chalkboards and voice assistance. So imagine a scenario where in some remote down and somebody needs to maybe create a bank account. So there are multiple challenges that could, that could be their number one, the, maybe the traditional side of the bank would probably be a few miles away and you need to I don't need to walk or maybe take some mode of transport to get there. Then technology came in and you have, you now have these online, online banking and everything. But what do you do? And you don't have, say, Internet connectivity. The derivative now that AI can provide is you could pick up a phone and talk to a customer service representative to the medial or your answer your questions about financial transactions and maybe meeting a banking needs. But I'm sorry, I'm I audible. Yeah. Okay. Yes. But now, that poses a different challenge for companies where you need to have power to solve that kind of customer demand. So where chatbots, communists, you can, companies these days can build pretty, I would say the technology needs to develop more, but we are working towards having pretty conversational chatbots. So a person can just pick up a phone and talk to a chalkboard instead of an agent and get a multitude of actions done. Get your questions answered. John buzz these days are getting so smart that they can even provide financial guidance. Me, give recommendations. Using AI. They, they could give personalized investment recommendations all through a channel if the user is more comfortable in interacting with. So that's one aspect. The other aspect that SO GO touched upon is some, some big banks maybe may not be even interested to, to, uh, to transact with customers who may not have any credit history or may not have any documents to support that. So how AI is coming into the picture is, I mean, again, this is a developing thing. It will take time to be established, but I can potentially be used to, to glean information about an individual or potentially assess a credit score for an individual through other means. Rather than looking at actual credit debit card usage and that sort of credit history. For example, one of the potential ways being explored is say, to say social media activity or phone usage and things like that, where I can use to guess what kind of financial capability a person may have. And so, so these are, these are not, these need a lot. I mean, they have a lot of privacy implications, et cetera, et cetera. But keeping the other side, as this ideas developing, the point I'm trying to make is AI can be used to come up with alternate solutions to provide credit to people who, who generally may not have access to it. So, so that's how I think things can be made easier. And another big challenge I want to talk about in a lot of places, their consumers who built, who may not have proper IDs and knowing your customer becomes a challenge, KYC becomes a challenge. So there are new technology supported by AI like face ID. There's voice ID now where you could be recognized or authenticated through your voice. So these are all technologies that help support that, that financial inclusion narrative. So I think there's a lot, lot more that AI can do in this space. Great. Thank you, Sara Lee. And now if I could ask you because I see lots of challenges or at least lots of differences in perhaps how we can attract talent and how, you know, the whole kind of the whole workplace. There's a lot of displacement here in terms of the workforce because you know what I'm hearing from. So Robby is a lot of these these tasks are now being automated and those may have been previously performed by humans. Now these are being performed by some technology. Could you talk to, could you maybe kind of talk a little bit about how this really changes the workforce, how it might change our height, the company's hiring strategies? Absolutely, yes. And so, you know, there's a good and a bad news at the same time, the good news is that there is experience, the automation, the automation of different functions, processes has happened all along since the Industrial Revolution to the workflows. Displacement has been a challenge that the industry is very well aware of and is, It's not something that just catching them by a surprise. Let's say that. So that's a good thing. The bad news is that it is due big, substantial challenge because in the next decade a lot of technologies are going to hit us and they're going to beat us worry about because as I said, we are in the middle of a lot of disruptive platforms that are available to us that will significantly automate many of our processes. So a and b have to be, the organizations will have to be very conscious about it. So thank you for bringing it up because there are three key stakeholders I believe that are going to have a big influence on addressing the issue of book workforce displacement in addition to the people themselves who are going to bend the space, that the first stakeholder or the capex themself, the corporates today they are very well aware of it. And they are putting a lot of onus on cross training. And to be getting ready for increased productivity and wide training that talent pool and enhancing the talent pool so that they are not no longer just married to one function and one process. Now this also has some geographical implications because Asia had took it on long ago than that the western more in depth. So in Asia, you see the average diameter sun spends an accompanying is much lower than what we in the Western world do. So we stay with the company for much longer. So we have to, it's not just about a codebase is the idea of being able to retire in a certain role, had spent two or three decades in it. And then your diaphragm that reward, that idea has to be challenged and the corporate has to do that in making sure that it is constant cross training. And also they laid the foundation of campaigning change. So the people have to have a mindset and behaviors that change is coming. And this is going to be good for business, this is going to be good for them and it's going to be enhancing the productivity of the company. So how everybody can participate in that. And this is a mindset shift that the Western OPEX and abuse, the successful ones that have been around and will probably go longer are laying the foundation. And I see a lot of work only on change management per day being done in the bond. And a and b, we focus on it, we behave, we are encouraging those mindset and behavior and it's coming from the top leadership. So, so that is the role that what works for, you know, work on. The second is academia. So the stuff that you're doing today, Dr. Ebrahim, that the lifelong learner mindset, the academia will have to bring forward the newer technology conversations deadlock people develop the Garland would all across to enable the absolute corporate are ready to hire and they have the access to the talent pool which is cross-trained and doesn't think only in going back to one technology and they can think beyond the technology and are basically a technology agnostic in many ways in their thinking. And then at what is the your regulatory bodies to governments, et cetera, what are the policies you are going to ensure that you will push forward so that the workflows are both positive. Displacement doesn't impact. The lifestyle and the GDP. Basically, you can keep so many people out of work. So you have to come up with policies on bats, on, on minimum wage, et cetera, to ensure that there is ecosystem where people try it. So all the stakeholders have to participate. I would say that diversity and inclusion, especially inclusion is going to play a big role so that nobody is left out. Gender therapy is going to be very big, vertical. You see that everybody, when they come together, they are cross-trained. And then the other stakeholders in place to ensure that workflows to play displacement is only important backstop, you move from one technology to the other, you embrace it. Enhance the productivity. That's how it's going to happen. Otherwise, we might do the error that we did during the Industrial Revolution where there was this great diversification. The industrial revolution really happened for the Western world breast, many of the countries were left behind. I don't think that's going to happen this time because Asia is leading the way and many technologies. Three. And I think you also bring up a very interesting point, which is, if you think about corporations, you think of academia, you think of policy and regulating bodies. None of them can survive in a silo. They all have to work together. They all have to cooperate and collaborate. And I think that's a bit of a different mindset, right? And so it's getting all of these different, I'm thinking of all of these different entities as partners were all kind of working towards this is some kind of inclusion. And now if I mailed, just kind of ask any of you three who would like to whoever would like to jump in. What do you see as the, the impact even on a kind of social behaviors and mindsets. Because now suddenly says You gave us a statistic of a third of the global population is unbanked. Now suddenly they do have access. We give them a phone, we give, you know, we, we we kind of hook them up with a FinTech company and suddenly now they are not, they're no longer unbanked. That changes, that changes the, the whole global kind of mindset that changes the, the pattern that changes the fabric of our world. And often in my classes, we see the haves and the have nots. We see the digital divide, whether it's a global digital divide, whether we see whether it's within the US. This four ones is positive news where the have nots are, are, are decreasing. And so maybe you, so would anybody like to kind of address that? And on my world of finance and technology, that is absolutely positive. And in terms of, of, you know, people, let's say you, you have a small business and you lead them, you run that small business on a cache base. Suddenly you have access to credit. So you can scale that business that previously you could not. And if you can scale that, you can employ people. If you can employ people, you bring more people into the economically active environment. So you really promote economic growth. And while that is first very empowering, because somebody suddenly is able not only to thrive and put the business forward, they are also able to bring other people on board with them, right? And I mean, that that is a big shift in mindset, right? Suddenly you are that when they're struggling and you become that one that can actually help and can make a difference. So and I, and I think there's a lot of people in that situation that they are eager to produce, they're eager to, to bring themselves and their family and that the environment forward. But they don't have the means. So I think there is, there is a fundamental empowering fact on, on accessibility to, to the technology and to finance and try everything to actually promote people to, to produce more, to actually achieve what we want to achieve. And I think from the perspective education that despite was brought up. I think when have-nots reduce they say they, I mean, when accessibility to the Internet, to finance, to resources across the web, you know, come into the hands of a lot more people. I think I would still consider that to be. I would, I would definitely consider that to be a very, very positive thing because now, now these places, the places that were previously not so connected, are now connected to the rest of the world. They're having access to a lot more information, I think, especially in the education side, I see that there are so many new ed tech startups that are working to embody education just online, nobody needs to go anywhere. I mean, they used to be scenarios where people living in remote areas need to travel for long distances to go to school or, you know. There and then also saw social, sociological restrictions may maybe save women, maybe having restrictions and going on. So maybe they can get educated right at home. So it opens up a lot of possibilities. So I think accessibility, accessibility, the technology is enabling, is it's just going to invite people. The attack is really adding a lot on what Miho told about workforce development and lifelong learning. That now that, that is, that is something that needs to happen, will the ad tech is really jumping for that area as well? The social, just to, just to give you some more perspective on the social economic impact which Sergio a UN setup Serbia done. You've thought what a big chunk of it, that as the accessibility increases, we have to see the impact of some of these technologies. So we are excited about taking the thing, that word to the masses and that is critical. But we have to see that most of these fintech industries are based on blockchain. And if you look at block chain, it is a very energy extensive. It uses a lot of energy. The transactions. I was reading that one Bitcoin transaction takes 700 kilowatt of energy, one Bitcoin transaction, it's not even hit the market yet. So, so what I'm trying to say is that those kind of impacts are also being started by the industry today. So what, what will happen is as the energy consumption starts deviating to one side, the other B2B traditional companies are also looking at other disruptive platforms on energy storage. So when you talk about Tesla, when you talk about these major trends and you see EV market is going to really go further because we know that as we go to the masses for fintech, We have to save energy somewhere else because the equation has to balance out. So in the bigger picture of things that impact is positive. Mostly I agree with the education sector is going to get groomed. The money sector in the finance sector is going to get to the masses. There is also going to be a sustainability aspect of it. And that also has a geographical reproduction because if you see some geographies are better ahead, they're ahead of us. If you look at Europe, the UN sustainability goals, they are taking them very seriously and working on those technologies are also going to hit the market pretty quickly. And they will also have a very positive impact. Because as we look at one technology going and doing a positive impact on one side, we have to understand the other side of it too. So when blockchain hits and it becomes very transaction intensive and energy consumption goes up, we have to address that market to, so alternative sources of fuel, alternate sources of energy. Energy storage is a big market that is going to get traction as well. So yeah, the socio-economic impact, I see that overall, if I was to say carefully, I would say it would still be a positive impact because the things that are accessing that were accessible to only few are going to be accessible to more and more. And that is going to cause more major disruption as people have access to these technologies, they will have access to Internet. So when we talk about internet and I know sort of be bugged about when there is no Internet, how AI can help. But really the access of internet is also a very big disruption happening right now. If you look at the space market with the NGO of SpaceX and Blue origin. The origin has a vision that it will take indirect to the remotest part of Africa if you read that vision statement, that's division. So a lot of things are happening right now. The fun thing is that we are in the middle of it and we have a chance to look at it and learn from each other. And it will bought some positive impact on the socioeconomic order. And I hope that this time we don't leave anybody behind. Great. And, and I think and I'm very happy, we have a few questions now in our Q and a, and so I will pass them off to you. But I think there's also something about the idea of attracting talent. Who's going to be comfortable working alongside abut, right? I'm thinking of, of shrubby. And it's not only that we're interacting with humans, but now we are actually with artificial intelligence. You know, needing to prepare our workforce to work alongside and very, very closely with with technologies. So I'm looking at a question and I'm happy that again, all of you, our learner graduates. But we do have a question from somebody in the audience who is asking us, how do you, how could you imagine learners, students being prepared academically? Yes, there are these, these, these webinar Andy's lifelong learning. But how do, how do we prepare learners, students to actually enter into this space? You know, what's the role of academia? And as I mentioned earlier, right? It's one of the three legs. It's one of the three pillars. Academia is one of them. How do you, what kind of courses or programs? How do you see academia playing a role and learner? How do we, how do we better prepare our, our students? Are I can take a stab on this one. And and actually I won't go into the specifics, but i'll I'll just touch on the ground floor, which is how you approach it. And because whatever we focus on, our energy goes entirely into that. So maybe not seeing technology automation and everything as an enemy, as a substitute, but rather an ally. Rather somebody that will collaborate, somebody that will collaborate with us. So just to give an example, in the financial industry, you have what is called Robert financial advisors. Are they going to substitute the traditional financial advisors, human advisers? Most likely not. But if you pair that technology, that algorithm can, that can look at your investment portfolio and compare that to the market 100 times a day that you are human financial advisor cannot do that many times, right? Probably once a month. So if you pair those two, then you have a financial advisor way better than you had before, just with the human. But you have the trust that you have somebody that you can go after and talk to them. And so you have best of both worlds, you have the best of technology in the best of the human aspect put together in one role. So really approach that as ai, all this technology is a tool, is something to help us. So instead of looking, oh my God, the computer will take over my opportunities. Know the computer will enhance your opportunities. And so I think it's really like the best. Let's say my $0.02 on how to be successful in this environment. Take it as a powerful tool that will actually springboard you even further than you would otherwise. And I think Thank you, Sergio, because you also answered one of another of the questions in the Q&A, which is your will AI replace the future workforce? And I can remember being back in graduate school and this question came up and will robots take over our, our world? And so I think your attitude of, you know, no it won't, they won't replace us. They will enhance what we do. I agree. And I think I'd like to I love to chime in here. I mean, especially considering I am working on artificial intelligence. So these considerations have crossed our minds. But I would completely agree with what Sergio was talking about. I think that I definitely don't think that the wolf human workforce will be replaced by AI. Rather it would be a good mix of the two in the sense that I can just do one quick example here from, from my, from the projects that I'm working on. One of them is about how we can use AI to help call center agents, assist customers better. So this is how we can be. I would help them help agents to, to get suggestions on what they should talk to the customer about next or how they could better solve the customer's problem. Real time. These suggestions are coming through the AI system real time. So that's one example of how AI can help assist the workforce in doing better. And another, another viewpoint on that is say in the, again, coming from what I'm working on, say, chatbots or more conversational voice. Agents can help offload simple hemp or Florida, you know, mundane stuff to, to why sports or chatbots. While the, the actual workflows can then focus their energy on more Wait stuff and focus their energy towards, towards solving more complex issues that would, that consumers would like only human agents to a system with so that sort of thing. So enhancing the capabilities of the workforce and assisting them in performing their their regular activities. I think AI will play a supportive role. I I don't at least in the near future, I don't see hey, I completely replacing the workers. May have where you can jump in. I was like a joke. I said the last robot that made news was the one that landed on Mars. That also robot that landed on Mars. And nobody would have been that he did not take your job. You're literally taking his job because as he lays the foundation of miles traveled, so rest assured, it's not, it's not going to take a job. But as an MBA student, I think the question is valid. And the thing that we, I will say again is make sure that your network is diverse. So if you've come from Fintech, so if surgery comes from JP Morgan Chase and if all his friends and network resides in JP Morgan Chase, and that's trouble. Pause the video. So you will, you will be, you will be seeing a lot of disruption and you just don't know. So diversify our network, make the best of your program. At UB, you will meet a ton of different people. Network and make a conscious effort to ensure that you meet people from different markets, different industries, different geographies, and that is going to ensure your success. I think that's how I've, I've ensured that I've survived the game so far and be friends with the technology. Depends on the technology guys. Yes. And so I think that's very good advice for those who are current students and even for recent graduates. Even if you didn't make that concerted effort as ne ha is, is advising us to. If you're a recent graduate, you can still kind of go back and start creating that network. I do have a question from somebody in attendance who asked, if you're nearing the end of your career, how do you, what do you do to keep up? What would what would your advice be? Wondering hands on your question. I'm sorry. So now I have got now, if you're asking that question, you're not at the end of their career. And that's the goal is that you take out the water Korea because I feel like it has a negative connotation to it. You will be a lifelong learner and it's a good thing that you are, You are encouraged at this point in your career or in your professional journey where you say, I want to be a part of it and I don't want to miss out. So you won't be a user, if not a person who's generating these technologies or being in the workforce. So you'll want to be a user at the minimum. If nothing else, you will be the coolest granddad than one. So b, be a lifelong learner because I think it helps. We don't have the luxury to not be that anymore. I'm adding tiny. So technology. I think we have access to keep reinventing ourselves and learning new things. So lifelong learners who said yes. And if you have a lot of experience, that is something that you cannot learn or get a degree on the, on that, that is something that is priceless and that is very valuable. So don't be afraid, but there is a bunch of young people come in with all this technology behind you. They don't have the same experience and wisdom. That is your value. Even though they can do incredible things with technology, they still rely on people with more experience to guide them. So that don't, don't, don't take that for granted. And I think also for people who may have been in the workforce a little bit longer, there is the idea of the organisational knowledge and the historical perspective and that they, they, that's where they really can provide a lot of benefit. Bruce, I do. I have time for one more question or We have two minutes. So if it's a short question, Let's do it. Okay. So when, by the way, surgery, there is one question that I think you can even answer in chat because you're the one who has the statistics about 31 percent of the unbanked. But I would like to end on the idea of the ethical issues that may be raised by disruptive technology. And what are, what are your thoughts on that? And as Bill said, we have now one minute and 45 seconds. So I'll be quick. The race to the top can create adverse incentives, let's call it this way. So I would say that, yeah, ethic, ethical issues may arise on that race to the top. To me, the impact to the environment. There is a, we need to take ownership of that as we reinvent, because B would be ending up creating a ton of waste that we have already shown. And, and we may do more of it if we don't take into perspective, it's it's environmental impact. Yeah, very good point. And I think speak alien from the side, I think of how much do we dig into the user's data to enhance this, AIs are big ethical concern. So I think as technology, as people looking technology, that's a big, big conservation. Yeah. Hey, Bruce, I hope I made my two minutes. This has really been fascinating. I've, I've loved it. I loved the discussion of also learn so much from, from my, my panelists, former students and I, as I always do, I'm going to pass right? I'm at on behalf of Lerner College. We are so proud of the three of you for taking the training that we got you started on and you've really posted so far in your own careers and you're in wonderful positions. And just that last topic shows that the three of you are very conscientious technologists. I really like the fact that you're aware that every time we take a step forward with technology, there can be unforeseen consequences, right? There can be harm done along the way. And I think we have to be very aware of those and very committed to addressing them. I think we all put faith in, in innovation and new technology, but we have to recognize that it might not specifically bring everybody forward the way we would like. And I think being that the answers to three of you gave really, I think give me a lot of heart that that's going to be the future of IT is that we do contribute to society, but we're also aware that not every innovation as a positive impact for everybody in our society. So with that, I will say, thank you, Andrea, Thank you. Panelists. And I look forward to our audience Returning to visit with us in September when we begin another academic year of lifelong learner events like this, that PAN is fully intended and it's absolutely what our college wants to be doing, honoring our, our, our namesake Alfred learner. But also realizing that in business today, you've got to be continually updating your knowledge and your skill sets. And it's clear that this is a group that's really taken that to heart. So thank you everyone for joining us today. Have a wonderful summer and we will see you in the fall. Thank you. Thank you. Thank you, everybody. Thank you, everybody.