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Let me give a little bit of context.
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So historically, we used to say
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most organisations were about command and control.
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The centre used to decide-the one individual,
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or, you know, and then the organisation used to follow.
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At least there was an attempt to do that. Right?
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More recently, at least,
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what we at BCG talk about, is
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this concept of head, heart, and hands.
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The head is about setting the big rocks
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of the future vision,
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the heart is about inspiring and empowering people,
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and the hands is about innovation
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and agility to make it happen.
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So that's what we talk about.
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But I think in the world you are outlining,
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we probably need more skills than just that.
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So if there is one call-out skill
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you would have for the CEOs,
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to reflect on what they should add to their own arsenal,
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what could be one thing you would say
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to master...to be better in the coming world?
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So I say two things,
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even though you said one, I'll say two things.
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(both laugh)
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One thing is that CEOs are so far human beings,
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and they're flesh and blood,
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the brain is an organic brain.
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And we are reaching a point,
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when because of the speed of change in the world,
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and the complexity of the systems,
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the human brain is incapable of understanding
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what is actually happening.
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That we are very close to the point,
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you know, again, it links back
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to the increase in the speed of information
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in the world,
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which means an increase in the speed of change,
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that in more and more fields,
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it's just becoming too complicated.
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You know, how many people today understand
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the global financial system?
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To be very generous,
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I would say 1% of the population.
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That's very, very generous.
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That's very generous.
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I think in 20 years
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the number will be exactly zero.
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The global financial system will be so complicated,
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and almost entirely run by algorithms and AI,
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that humans just can't understand.
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It doesn't matter how smart you are,
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how educated, you can't understand it.
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And you will have to rely more and more
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either on collaboration with other people
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or on collaboration with algorithms, with AI.
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That we are reaching the first time in history,
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that the human brain is creating systems
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that it cannot understand,
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but it also creates tools
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that take away some of our decision-making power.
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We could reach a point in 20 years
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when many of the decisions,
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whether in a corporation, whether in a government,
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are taken not by a human being,
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but rather by an algorithm.
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And, you know, we can still have a human at the top,
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because this will comfort us,
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"Oh, we are still in charge."
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But, you know, the algorithm approaches you,
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and tells you, "We are facing a crisis,
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but I can't explain why.
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You're a human,
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your brain can't process the data.
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I went over trillions of data points,
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I noticed something,
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I can't explain to you why,
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because your brain functions differently,
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and you should do either this or that."
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And, you know, it's frightening
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to think about this scenario,
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but we are very close to it.
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The other side of the coin is
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that as things accelerate,
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as it becomes more complicated,
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I hope, I know, I know it's a long shot,
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but I hope that actually you take better care of your mind,
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and especially find time to disconnect.
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I know, again, with the increase
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in the flow of information,
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it's becoming almost impossible.
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You must always be there available,
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there is a crisis every moment,
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a decision every moment,
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but the mind is just incapable
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of functioning like that over the long-term.
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If you don't find the time and the space
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to completely disconnect for a few hours,
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maybe for a few days,
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you won't be able to survive this.
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And, you know, we are in a time of a pandemic.
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Everybody's talking about
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the need to break the chains of infection.
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It's also true about the mind.
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We need to break the chain of infectious thoughts.
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That if you're all the time
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on this kind of information treadmill,
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your mind becomes infected with these things
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and you can't think differently.
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So I hope that you somehow find the time
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to disconnect for a few hours or a few days.
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It will do wonders afterwards to your peace of mind
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and to your ability to function.