When it comes to fake news, sexism or the challenges of Artificial intelligence, leading investors don’t trust either the tech companies nor western governments to resolve the significant challenges emerging, according to a poll of the world’s top technology investors.
Fake news and sexism cannot be controlled in internet
A survey of investors taking place during Web Summit in Lisbon, found that a majority (82%) disagreed with the statement that
“The tech industry has done enough to combat the increase of fake news.
This refers especially to Facebook & Co. that are undermined by intelligence service like the latest scandal with Russia.A majority (60%) agreed in the survey on that:
Silicon Valley is guilty of a shameful inability to tackle sexism in the industry.
Although a minority it was notable that one in three investors agreed with the statement:
Internet companies are not a force for good and must be regulated.
Here are some important quotes about fake news:
Lisa Hehenberger (ESADE):
We must work to normalise social initiatives and eliminate the prejudices that prevent social enterprises from obtaining financing”
Amira Bliss (Rockefeller Foundation):
In order to innovate, it is essential to have teams that are diverse not only in terms of gender but also race, age and abilities”
Action is the only thing that counts
The belief that every complex problem has a simple solution is not true. The challenges we face as a society – faked news, the aging population, the refugee crisis, terrorism, etc. – require complex solutions. The key is to create the massive capacity to innovate and to be able to move closer to these solutions and empower the population in this sense,” declared Geoff Mulgan, CEO of the National Endowment for Science, Technology and the Arts (NESTA). He also commented: “Hope does not generate action. It’s the other way around: action is what generates hope.” Fake news have no solid advantage for companies, they just confuse on the long run.
A good attitude is the first step in generating the pieces that end up solving problems and Josep M. Lozano, Professor in the Department of Social Sciences at ESADE, pointed out:
The what and the how of a company can make us forget the why. That why must be linked to the social aspect. Without the why, we will advance, we will make changes – but we will not generate transformation.
Organisations must create spaces where they can nourish the why of their workers, not only in organisational terms but also social and personal terms. Therefor Social enterprises need financing and support. No one questions the fact that for-profit companies must invest in infrastructure and personnel in order to improve their bottom line. However, they do question the fact that social enterprises spend money on this, even though it’s obvious that they cannot work if they don’t invest in infrastructure.
Make it real: Big data for the common good
Genís Roca, Co-founder and Chairman of RocaSalvatella, pointed out an conceptual error in the term big data: “Companies have always had a lot of data. What’s important is not the amount of information you can handle but how long it takes you to get a piece of data, process it and act on it.” Therefore, Mr. Roca argued, a more accurate term would be fast data. “Collecting data without people’s permission is dangerous,” he added. “I don’t think that’s the future. I think an honest relationship between companies and users will necessarily prevail.”
Pedro A. de Alarcón presented the project he leads at Telefónica, which is called Big Data for Social Good. “At present, part of our commitment is to transform the data that we have and give them back to society,” he explained. His department collaborates with institutions such as UNICEF and the Inter-American Development Bank. “With UNICEF, for example, we have launched an earthquake prevention programme in Colombia”, he explained. He wrapped up his remarks by urging members of the audience to propose new forms of collaboration.
Climate change is an increasingly urgent priority for investors, and this data shows Swedish asset managers leading the pack in meeting this demand relative to their peers in certain top-performing European markets. With Climetrics bringing greater transparency to the market, investors can “vote” with their money and shift their capital to low-carbon assets”. Swedish institutions have long been at the forefront of those in Europe’s financial community as being conscious of both the materials risks and opportunities presented by climate change. This year’s inaugural analysis will provide a baseline from which ISS-Ethix Climate Solutions will annually chart an overview of the European fund market based on climate impact ratings from Climetrics.