{"id":17814,"date":"2019-01-25T21:24:26","date_gmt":"2019-01-26T02:24:26","guid":{"rendered":"https:\/\/mdpair.com\/stuck-in-trade-war-tech-firms-pitch-the-promise-of-innovation-at-davos\/"},"modified":"2019-01-25T21:24:26","modified_gmt":"2019-01-26T02:24:26","slug":"stuck-in-trade-war-tech-firms-pitch-the-promise-of-innovation-at-davos","status":"publish","type":"post","link":"https:\/\/mdpair.com\/?p=17814","title":{"rendered":"Stuck in trade war, tech firms pitch the promise of innovation at Davos"},"content":{"rendered":"<p>  \t   By continuing to use this site you consent to the use of cookies on your device as described in our   \t   <a href=\"https:\/\/www.business-standard.com\/cookie-policy\" rel=\"noreferrer noopener\" target=\"_blank\">Cookie Policy<\/a> unless you have disabled them. You can change your <a href=\"https:\/\/www.business-standard.com\/cookie-setting\" rel=\"noreferrer noopener\" target=\"_blank\">Cookie Settings<\/a> at any time but parts of our site will not function correctly without them.   \t   <!--more--><\/p>\n<p>  \t     \t     \t\t<img decoding=\"async\" src=\"https:\/\/mdpair.com\/wp-content\/uploads\/2019\/01\/close-1.png\" \/>  \t\t  \t    \t     \t  \t  \t    \t                         \t          \t\t  \t\t                            \t\t    \t\t  \t      \t            \t          \t\t  \t\t  \t\t                            \t<\/p>\n<ul>\n<li>  \t\t\t<img decoding=\"async\" src=\"https:\/\/mdpair.com\/wp-content\/uploads\/2019\/01\/down2.png\" \/>  \t\t<\/li>\n<\/ul>\n<p>  \t  \t\t  \t\t  \t  \t                   \t  \t\t\t\t\t\t  \t\t\t  \t        \t                 \t       \t\t  \t\t  \t  \t   \t\t  \t\t    \t\t<a href=\"https:\/\/plus.google.com\/105513640026823338822?rel=author\" rel=\"noreferrer noopener\" target=\"_blank\">Business Standard<\/a>    \t\t  \t        \t\t          \t     \t     \t     \t                     \t        \t          \t\t\t  \t        \t  \t          \t  \t\t\t\t\t  \t\t\t\t\t  \t\t\t\t\t\t \t\t\t\t\t   \t\t\t\t\t \t\t\t\t\t Stuck in trade war, tech firms pitch the promise of innovation at Davos\t\t\t\t\t   \t\t\t\t  \t\t\t\t\t   \t\t<\/p>\n<h2>Global leaders and technology chieftains agreed on the need for stricter government oversight, after a year that featured privacy scandals at Facebook Inc. and a broad reckoning of the tech industry<\/h2>\n<p>  \t\t\t\t\t\t\t    \t\t\t\t\t\t\t\t  \t\t\t\t\t\t\t\t   <a href=\"https:\/\/www.business-standard.com\/author\/search\/keyword\/bloomberg\" rel=\"noreferrer noopener\" target=\"_blank\">Bloomberg<\/a> \t\t\t\t\t\t\t\t  \t\t\t\t\t\t\t\t  \t\t\t\t\t\t\t\t  \t\t\t\t\t\t\t    \t\t\t\t\t\t\t  \t\t\t\t\t\t\t    \t\t\t\t\t\t\t  \t\t\t\t\t\t\t  Last Updated at January 25, 2019 14:26 IST  \t\t\t\t\t\t\t  \t\t\t\t\t\t<\/p>\n<p>https:\/\/mybs.in\/2X33ltn<\/p>\n<p><img decoding=\"async\" alt=\"davos 2019, global economic forum\" src=\"https:\/\/mdpair.com\/wp-content\/uploads\/2019\/01\/1548067140-7234.jpg\" title=\"davos 2019, global economic forum\" \/>\t   \t \t\t\t\t\t\t\t\t\t\t\t\t\t   \t   \t \t\t\t\t\t\t\t \t\t\t\t\t  \t \t\t\t\t\t  \t \t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t  \t\t\t\t    \t\t\t\t    \t\t\t\t\t  \t\t\t\t\t   \t\t\t\t\t   \t\t\t\t\t     \t\t\t\t\t  \t\t\t\t\t  \t\t\t\t\t\t\t\t\t\t\t\t  \t\t\t\t\t\t\t\t\t\t\t  \t\t\t\t\t    \t\t\t\t     \t  \t\t\t\t\t\t\t    \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t       \t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  \t\t\t\t\t\t\t\t\t\t    \t\t\t\t\t\t\t\t  \t\t    \t\t\t\t\t\t\t\t  \t\t\t    \t\t\t\t\t\t\t\t<\/p>\n<ul>\n<li>\n<h2>ALSO READ<\/h2>\n<h2><a href=\"https:\/\/www.business-standard.com\/article\/news-ians\/xi-is-danger-to-freedom-billionaire-soros-119012500177_1.html\" rel=\"noreferrer noopener\" target=\"_blank\">Xi is danger to freedom, OBOR project to promote China&#039;s interests: Soros<\/a><\/h2>\n<h2><a href=\"https:\/\/www.business-standard.com\/article\/current-affairs\/george-soros-to-bill-gates-davos-summit-attendees-keep-getting-richer-119012100610_1.html\" rel=\"noreferrer noopener\" target=\"_blank\">George Soros to Bill Gates: Davos summit attendees keep getting richer<\/a><\/h2>\n<h2><a href=\"https:\/\/www.business-standard.com\/article\/companies\/how-alibaba-s-jack-ma-became-the-role-model-for-china-s-startup-generation-118091100371_1.html\" rel=\"noreferrer noopener\" target=\"_blank\">How Alibaba&#039;s Jack Ma became the role model for China&#039;s startup generation<\/a><\/h2>\n<h2><a href=\"https:\/\/www.business-standard.com\/article\/international\/a-look-back-at-how-jack-ma-turned-alibaba-into-asia-s-most-valuable-firm-118091000094_1.html\" rel=\"noreferrer noopener\" target=\"_blank\">A look back at how Jack Ma turned Alibaba into Asia&#039;s most valuable firm<\/a><\/h2>\n<h2><a href=\"https:\/\/www.business-standard.com\/article\/economy-policy\/india-moves-up-a-notch-on-global-talent-competitive-index-ranked-80th-119012100983_1.html\" rel=\"noreferrer noopener\" target=\"_blank\">India moves up a notch on global talent competitive index, ranked 80th<\/a><\/h2>\n<\/li>\n<\/ul>\n<p>  \t  \tTech <a href=\"https:\/\/www.business-standard.com\/companies\" rel=\"noreferrer noopener\" target=\"_blank\">companies <\/a>are back pitching the promise of innovation, but this time, stuck in the middle of a trade war, they\u2019re welcoming government oversight.<\/p>\n<p>  \tThis was the broad consensus at the <a href=\"https:\/\/www.business-standard.com\/topic\/world-economic-forum\" rel=\"noreferrer noopener\" target=\"_blank\">World Economic Forum <\/a>in Davos, Switzerland, which was devoted this year to the theme of Globalization 4.0, an emerging world economy that\u2019s increasingly based on the transfer of data instead of physical goods.      <\/p>\n<p>  \tGlobal leaders and technology chieftains agreed on the need for stricter government oversight, after a year that featured privacy scandals at <a href=\"https:\/\/www.business-standard.com\/search?type=news&amp;q=facebook+inc+\" rel=\"noreferrer noopener\" target=\"_blank\">Facebook Inc. <\/a>and a broad reckoning of the tech industry. German Chancellor <a href=\"https:\/\/www.business-standard.com\/topic\/angela-merkel\" rel=\"noreferrer noopener\" target=\"_blank\">Angela Merkel <\/a>called for global rules on data security. Japanese Prime Minister <a href=\"https:\/\/www.business-standard.com\/topic\/shinzo-abe\" rel=\"noreferrer noopener\" target=\"_blank\">Shinzo Abe <\/a>said in a speech that his country would aim to propose a system for oversight of private data use at the Group of 20 Nations meeting in June.<\/p>\n<p>  \tEvery company \u201cmust adhere to the core principle of data as a human right and privacy as a human right,\u201d echoed <a href=\"https:\/\/www.business-standard.com\/search?type=news&amp;q=microsoft+corp+\" rel=\"noreferrer noopener\" target=\"_blank\">Microsoft Corp. <\/a>CEO Satya Nadella, in a conversation Thursday morning with Klaus Schwab, founder and chairman of the <a href=\"https:\/\/www.business-standard.com\/topic\/world-economic-forum\" rel=\"noreferrer noopener\" target=\"_blank\">World Economic Forum.<\/a><\/p>\n<p>  \tNadella said GDPR, the European data privacy rules that went into effect last year, are a good start. \u201cWe all want to converge on a global standard.\u201d<\/p>\n<p>  \tThis year\u2019s tone differs from 12 months ago, where titans such as <a href=\"https:\/\/www.business-standard.com\/topic\/george-soros\" rel=\"noreferrer noopener\" target=\"_blank\">George Soros <\/a>accused Facebook and <a href=\"https:\/\/www.business-standard.com\/topic\/google\" rel=\"noreferrer noopener\" target=\"_blank\">Google <\/a>of being monopolies that foster addiction. Tim Cook, CEO of Apple Inc., showed up at <a href=\"https:\/\/www.business-standard.com\/topic\/davos\" rel=\"noreferrer noopener\" target=\"_blank\">Davos <\/a>for the first time, mixing with politicians, in the middle of a slowdown for iPhones.<\/p>\n<p>  \tAdded to the talk of more regulation is an undercurrent of anxiety over bilateral trade tensions and the potential impact on the global economy. Apple\u2019s supply chain is particularly at risk.<\/p>\n<p>  \t\u201cChinese tech is being shunned by America and increasingly you can\u2019t buy American tech in China,\u201d Nandan Nilekani, founder of Indian IT and consulting giant Infosys Ltd., said in an interview. \u201cMany people are concerned that the internet is splintering into many pieces.\u201d<\/p>\n<p>  \tThe technology industry once enjoyed the luxury of a globalized supply chain, manufacturing components in regions with the lowest costs, then seamlessly integrating them into finished products. Now the specter of protectionism threatens to make that model uneconomical. <a href=\"https:\/\/www.business-standard.com\/companies\" rel=\"noreferrer noopener\" target=\"_blank\">Companies <\/a>like Hon Hai Precision Industry Co., manufacturer of the iPhone, are looking beyond <a href=\"https:\/\/www.business-standard.com\/topic\/china\" rel=\"noreferrer noopener\" target=\"_blank\">China <\/a>to countries like India to reduce the risks that come with the concentration of production in a single country.<\/p>\n<p>  \tThe <a href=\"https:\/\/www.business-standard.com\/topic\/world-economic-forum\" rel=\"noreferrer noopener\" target=\"_blank\">World Economic Forum <\/a>is typically a venue to raise questions, not answer them. It\u2019s also a place for tech leaders \u2013 with their vast fortunes &#8212; to signal how they can help construct a brighter future. <a href=\"https:\/\/www.business-standard.com\/search?type=news&amp;q=salesforce+com+inc+\" rel=\"noreferrer noopener\" target=\"_blank\">Salesforce.com Inc. <\/a>co-CEO Marc Benioff talked about the responsibility of <a href=\"https:\/\/www.business-standard.com\/companies\" rel=\"noreferrer noopener\" target=\"_blank\">companies <\/a>to give back to their communities and, at an event sponsored by Bloomberg, about the precarious state of the planet\u2019soceans. <a href=\"https:\/\/www.business-standard.com\/topic\/bill-gates\" rel=\"noreferrer noopener\" target=\"_blank\">Bill Gates <\/a>discussed global health. Jack Ma, the retiring chairman of Alibaba Group Holding Ltd., warned (again) that the misuses of advanced technologies like artificial intelligence could lead to military conflict.<\/p>\n<p>  \tThere were several technology-themed subjects that inspired hope among the <a href=\"https:\/\/www.business-standard.com\/topic\/davos\" rel=\"noreferrer noopener\" target=\"_blank\">Davos <\/a>elite. The newest generation of wireless networking technology, dubbed \u201c5G\u201d, promises to reinvigorate the tech sector and fulfill longstanding promises of an \u201cinternet of things,\u201d where even rudimentary devices are connected to the internet. At a Bloomberg lunch devoted to the topic, executives from Ericsson AB, Swisscom AG, Microsoft and <a href=\"https:\/\/www.business-standard.com\/search?type=news&amp;q=qualcomm+inc+\" rel=\"noreferrer noopener\" target=\"_blank\">Qualcomm Inc. <\/a>described wireless connectivity that will be ten times faster than today\u2019s networks and enable a wave of connected devices like home appliances, portable video gaming consoles and autonomous cars that communicate with each other.<\/p>\n<p>  \tThe optimism wasn\u2019t just confined to the ground. In a breakfast conversation Wednesday devoted to the future of transportation, the chief executives of Uber Technologies Inc., <a href=\"https:\/\/www.business-standard.com\/search?type=news&amp;q=boeing+co+\" rel=\"noreferrer noopener\" target=\"_blank\">Boeing Co. <\/a>and United Parcel Service Inc. also waxed fervently about coming technologies like drones and air taxis. \u201cWe think about a future in which you will have three-dimensional highways to relieve traffic congestion,\u201d said Boeing CEO Dennis Muilenburg, who showed off a photograph of Boeing\u2019s new flying car prototype. Regulators were not on-hand to temper the enthusiasm. Elaine Chao, the U.S. Secretary of Transportation, was part of the delegation that never left Washington, D.C. amid the government shutdown.<\/p>\n<p>  \tBut overall, this kind of feverish futurism was overshadowed at <a href=\"https:\/\/www.business-standard.com\/topic\/davos\" rel=\"noreferrer noopener\" target=\"_blank\">Davos <\/a>by hand-wringing over tech and its impact. \u201cWe\u2019ve seen an erosion of trust among citizens that they will be beneficiaries of digital technology,\u201d said Eileen Donahoe, executive director of the Global Digital Policy Incubator, in a Tuesday panel discussion entitled \u201cStrategic Outlook on the Digital Economy.\u201d There\u2019s been \u201can erosion of confidence among governments, especially democratically elected, that they can fulfill a promise to simultaneously protect liberty and human rights, national security and protect the democratic process.\u201d<\/p>\n<p>  \tDonahoe then noted that the term \u201ctechlash\u201d entered the lexicon in 2018\u2014when it was shortlisted as an Oxford English dictionary word of the year.<\/p>\n<p>\t\t\t\t  \t\t\t\t    \t\t\t\t     \t              \t             \t\t\t\t\t\t\t\t\t\t\t\t                            \t                                              \t\t  \t\t\t\t\t    \t\t\t    \t\t\t\tFirst Published: Fri, January 25 2019. 14:23 IST\t\t\t\t  \t  \t\t                                 <\/p>\n<ul>\n<li><a href=\"https:\/\/www.business-standard.com\/article\/companies\/\" rel=\"noreferrer noopener\" target=\"_blank\">Read More On<\/a><\/li>\n<li>  |    |    |    |    |    |    |    |    |    |    |    |    |    |    |    |    |    |    |    |    |    |    |    |  <\/li>\n<\/ul>\n<p>PREVIOUS STORY<\/p>\n<p>NEXT STORY<\/p>\n<p>  \t\t\t              \t\t\t              \t\t\t           \t\t\t         <img decoding=\"async\" src=\"https:\/\/mdpair.com\/wp-content\/uploads\/2019\/01\/prev-icon.jpg\" \/>  <img decoding=\"async\" src=\"https:\/\/mdpair.com\/wp-content\/uploads\/2019\/01\/next-icon.jpg\" \/>  \t\t\t           \t\t\t\t              \t\t\t\t                 \t\t\t\t                  <\/p>\n<h2><a href=\"https:\/\/www.business-standard.com\/article\/companies\/\" rel=\"noreferrer noopener\" target=\"_blank\"><\/a><\/h2>\n<p>  \t\t\t\t                 \t\t\t\t                 \t\t\t\t              \t\t\t           \t\t\t           \t\t\t        \t\t\t     \t\t\t                                         \t  \t\t              \t                  \t        Advertisements    <\/p>\n<ul>\n<li><a href=\"https:\/\/www.business-standard.com\/click-tracker\/textlink\/id\/1527\" rel=\"noreferrer noopener\" target=\"_blank\">Smart way to buy gold starting at just Rs. 100<\/a><\/li>\n<li><a href=\"https:\/\/www.business-standard.com\/click-tracker\/textlink\/id\/1482\" rel=\"noreferrer noopener\" target=\"_blank\">Business Standard book for IBPS: 3000 GK Questions: GST, Budget 2017, Demonetisation<\/a><\/li>\n<\/ul>\n<p>                                           \t\t  \t\t                                                       \t\t      \t\t      \t\t      \t\t      \t\t      \t\t  \t\t\t\t  \t      \t\t      \t                                                                  \t    \t\t                                       \t\t                                                                      \t          \t  \t  \t  \t  \t  \t  \t  \t  \t    \t      \t      \t                                                                                         <img decoding=\"async\" src=\"https:\/\/mdpair.com\/wp-content\/uploads\/2019\/01\/notification_3.png\" \/>Your subscription &#8211; 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You can change your Cookie Settings at any time but parts of our site will not function correctly without them. <\/p>\n<p>\t \t \t\t \t\t \t\tBusiness Standard<\/p>\n<p>\t\t\t\t\t \t\t\t\t\t Stuck in trade war, tech firms pitch the promise of innovation at Davos\t\t\t\t\t <\/p>\n<p>\t\t\t\t \t\t\t\t\t \t\tGlobal leaders and technology chieftains agreed on the need for stricter government oversight, after a year that featured privacy scandals at Facebook Inc. and a broad reckoning of the tech industry<\/p>\n<p>\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t Bloomberg \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t \t\t\t\t\t\t\t <\/p>\n<p>\t\t\t\t\t\t\t \t\t\t\t\t\t\t Last Updated at January 25, 2019 14:26 IST<\/p>\n<p>\t\t\t\t\t\t\thttps:\/\/mybs.in\/2X33ltn<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tALSO READ<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\tXi is danger to freedom, OBOR project to promote China&#039;s interests: Soros<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\tGeorge Soros to Bill Gates: Davos summit at..<\/p>\n","protected":false},"author":1,"featured_media":17816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/mdpair.com\/index.php?rest_route=\/wp\/v2\/posts\/17814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mdpair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mdpair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mdpair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mdpair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17814"}],"version-history":[{"count":0,"href":"https:\/\/mdpair.com\/index.php?rest_route=\/wp\/v2\/posts\/17814\/revisions"}],"wp:attachment":[{"href":"https:\/\/mdpair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mdpair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mdpair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}