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