Summit Daily Highlights – Friday 9 November

Technology is changing business

AI and cloud computing are not new but they are reaching a level of maturity where they are changing the practices of SMEs. AI and cloud are no longer just the tools of big IT companies.

Digitalization needs to be translated for SMEs. They need help to see the possibility of digitalization and they need training.
Christian Rupp, Spokesperson of the Federal Platform Digital Austria

Technology is also changing banking. Banks will continue to be the provider of core banking services but there are growing opportunities in the financial space outside the core banking space. This is being driven by the sharing of data with non-banks.

Technology companies won’t become banks, there will be no Facebook Bank, but they will offer many new financial services. Panos Savvas, Co-Founder and CTO of AkoniHub UK.

Technology is changing medicine

AI, big data, augmented reality, and the digitalization of health are changing medicine. Doctors are diagnosing people with the help of AI. Augmented reality allows doctors to work with patients and other doctors remotely. Mobile phones are becoming a health-data hub for patients. In parallel, the declining cost of human genome sequencing is increasing the amount of key data available for each patient. Also, mini-devices promise to turn an artificial heart transplant into a simple procedure.

In Macedonia, medical skills and experience are concentrated in Skopje. Augmented reality could allow experts in Skopje to work with local doctors remotely. Sara Cohan, LivAid Israel.

Technology is changing environment practices

The circular economy is growing. Products are being designed for recycling so that the resources stay in the economy. Even food is being recycled into packaging. Sustainable production and energy is possible and while the price is a problem, new business models are finding a way.

Sustainable business approaches are not just about avoiding the wrong thing but doing the right thing and making money with the right business model. Yair Engel, Founder and Director at Kayama – Center for Sustainable Design, Israel

Building an Entrepreneurial Nation

A successful start-up eco system requires entrepreneurs to be put first. Successful start-ups need to offer their networks to new start-ups, and government needs to be asking start-ups what they need.

There is no one magic method. Different styles of accelerators come and go. Accelerators need to keep asking themselves how they can help start-ups. Method is not the platform. The method is just asking questions, listening and helping.

There are US cities that wish they had the engineering and software talent of Macedonia. Scott Resnick, Founding and Executive Director of StartingBlock

The Mindset of a Great Leader

Mindset is the choice of a leader to set his mind in the direction needed to achieve their goals. Mindset is not fixed but should be changed as goals change or if you get stuck. Also be aware that we are bombarded by negative thoughts and these build patterns of resistance in us.

You need to reflect on what you’re doing every day to improve.Think big and look to grow. If you haven’t achieved what you wanted just tell yourself “not yet”.

Success can be viewed as: Process + Connections = Outcomes
Kevin Murrane, Professor at Kellogg School of Management