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There's a new paradigm for corporations.
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Success requires optimizing for both business
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and societal value.
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Corporations need to think about sustainability
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and inclusiveness, what we call total societal impact,
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as a source of competitive advantage
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and business opportunity that they integrate
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into the core of their strategy and operations.
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We see total societal impact, driving valuations,
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new revenue opportunity, as well as cost and risk reduction.
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Leading enterprises are driving across sectors
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and industries to find opportunities to innovate
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their business model as well as collaborate.
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Telcos are so fundamental and connected
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that they're critically important to driving
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this new paradigm.
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For the telcos themselves, they can enable
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economic and financial inclusion,
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improve digital education,
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as well as emergency and crisis response.
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They can help with improved environmental management,
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traceability, and transparency.
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Telcos need to think beyond being a pipe
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and specifically in delivering solutions.
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This will require an evolution with regard
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to their product innovation, ways of partnering,
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and ways of measuring and communicating value.
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They will need, first of all, to establish a bold vision
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and link societal impact to their purpose.
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In many cases, telcos cannot embark on this journey alone.
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As the solutions will become dependent
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on many other capabilities,
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they should explore mobilizing ecosystems
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and partnerships involving their customers,
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the public sector, the social sector, financial sector,
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and potentially other players.
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In our just-released report we have done
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in collaboration with the GSMA,
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we have identified more than 50 areas of opportunity.
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Some telcos are already very actively on the move
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and the Mobile World Congress 2020 in Barcelona
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will showcase many of these.
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Impact is core to what we do at Telefonica.
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We're providers of information
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and communication technologies
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and these technologies are a key for achieving
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half of the sustainable development goals.
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We take on our responsibility to use our capabilities
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to improve the world, to ensure a more equitable society,
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to grow in an equitable way, to improve the conditions
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of our planet.
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Through our digital solutions,
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we're helping other sectors transform themselves
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and become more efficient through our IoT solutions,
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through our artificial intelligence solutions,
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through our big data solutions,
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are becoming more efficient.
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How do we integrate impact in our business strategy?
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Have a robust methodology to measure impact.
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What's measurable, it's actually something that
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you can manage better, you can set up objectives,
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you can set up KPIs,
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and this is how you really succeed
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in integrating in the businesses
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because we are convinced that we need to go
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a step further to innovate,
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to be more efficient ourselves,
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but to help our clients be more efficient on their terms.