They outline what it takes for a city to be future ready. This is an hour and 25 minutes. All right, good afternoon and thank you for joining us for the event, local economies of the future and how cities thrive in the digital age. I am the Vice President of Global Innovation policy at the Information Technology and foundation. I will be your moderator. I should mention the twitter handle for this event is futurecities. Have become key economic units driving the modern global economy. It is expected that cities will account for 90 of global population growth in this century. The advent of many new , the internet of things, automation technology, big data techniques, and many others are opening up transformative possibilities to reimagine how cities developed deliver Public Services any and utilities and educate their citizens and improve quality of life. As we will here today, the leading cities are thinking deeply about their future readiness so they can remain vibrant in a competitive global economy. Speaking of highly competitive, we have a worldclass panel with us here today to discuss how cities can thrive in the digital age. Ofwill hear from president the Asian Pacific and japan region for dell. He also serves as the chairman of dells Global Emerging Market Group and he has held leadership positions in china where he was president of dell china region and one the magnolia gold award. That, we will hear from Christy Mcfarland who serves as Research Director for the National League of cities where she leads the efforts to transform sea level city level data raises awareness trends, ands, successes in other cities throughout the world. She also launched the Economic Development program and is pursuing a phd in urban planning and Economic Development from Virginia Tech university. We will hear from Michael Hendrix who is the senior director for research and emerging issues at the u. S. Chamber of Commerce Foundation where he leads the Public Policy research and outreach. Michael also served as project director for the foundations beater 1776. Ith eq producing a study of city economy economies. From the global perspective, we will hear from the team lead for authoredve cities and the flagship report, Competitive Cities for jobs and growth. She is task manager for a city project. She also teaches on development and economics at both the school of advanced International Studies and at columbia university. She also holds a phd from the London School of economics. In the interest of space, we will not present the resin tatian upfront, they will be to your side and you should have. Eceived a handout look for the presentation there and with that let me turn it over to the floor. It is an honor to be among a distinguished panel. I arrived this morning at 2 00 a. M. So i am just ready for this session before i crash and burn. I had my double espresso cappuccino ready to go. Before you can ask him will answer the question. That is my motto. I live in asia and i is what i am what you would call a practitioner. I am in the field every day. I spent 250 days on the road and basically that is what i do. You will have me bring you a lot of perspective on what i see in ice ut also see what what i see in the corporate scenario. First and foremost do not think there should be any surprise to you. Click forward. We just have to get. I did not think there is any surprise to anyone here in the room that if we want to take Living Standards up, technology and innovation play a huge role. That has been the case for the last several centuries. I would make the argument that we are in the middle of an Industrial Revolution and if you think about this Industrial Revolution first Industrial Revolution somewhere in 1784 and a second in 1870 which was the division of labor and advancement of electricity and mass production, the final Industrial Revolution was around when our company was born, dell. Where we are today and where we are headed for the next several decades is really an advancement in cyber physical systems. All of these things are unleashing a new quality of living and new advancements. The first thing that happens is every time we talk about this sort of progress innovation driven by technology, typically i think weinto are headed to a terminator world or maybe something more positive. The point would be to makeportant for us the case that we as a company have always believed and consistently said that technology is in the service of human. It helps us achieve the full potential that humans as a race have. Human progress is a critical part of our purpose and we believe technology has to further the human progress. That is very important because if that view is not well established, technology could go definitely could go in a different direction. That it is also clear to all of you that our world is changing. How we live, how we interact, how we work. There are more than 3 billion smartphones today and they are severalor 700 hundred billion sensors that will automate things, personalized things, and create new outcomes. If you look at our storage cost and if you think about when i started my career, hard drives used to be five megabytes or 10 megabytes and today a gigabyte of storage is five cents and why you may not have the perspective. In the last four years, 100 billion times faster processors are available. That an exponential rise iconductor and a street is industry is having and that is creating a new power to create outcomes for the society. 100 billion times faster in the last 40 years. Ourou look at the impact on society, it is creating a lot of changes. In 1920, if a company had an. Verage life span of 67 years today it is about 15. You can see theres a lot more changes happening and companies are consolidating, aligning, or companies are getting out of this this. That is because the technology is creating a lot more changes and expectations from a customer perspective. The next slide talks about if you could imagine a world where 200 billion devices that are connected, where you can replicate a human brain, which is likely by 2060 in less than 1000 and you could be living 120 years plus and where the seamless and pervasive Customer Experience is there and there are new are outcomes possible. Clean energy, given the advancement in the semiconductor and the Energy Resources will create a tremendous amount of opportunity and conductivity that is second to none. All of these things are really around us. It is happening as we speak and this is what we believe is going to create a society which will further human progress. To do this the cities have an Important Role to play. Before the cities, let me tell you digital disruption is not Large Company driven. It is driven from a lot of entrepreneurs, a lot of innovation that is happening from thousands of thousands of companies. Oldou look at the disruption, he used to be a few disrupters that have a lot of cash could create new outcomes and now there are a lot more moreators, almost 10 x that have a cost structure which is 1 10 of previous disruptors, creating a disruptive power of. He most 100 x no matter which company or state you are in, you have to continue to innovate and adapt technology. It is not possible for us to continue to imagine the size of the previous history. Everyone has to innovate and everyone has to to differentiate. Hat is the thesis this is what leads us to what we say is everyone has to become future ready. Becoming future ready is not just a company responsibility. Is an individual responsibility and a city responsibility and a country responsibility. If all of these changes happen around us and they are not some sort of high in the sky, they will be here in 510 years from now. How do we get individuals ready, society ready, and countries ready and cities ready to deal inh the changes and thrive the state of hyper changes that are upon us . That is the framework of the talk today. To do that, i would first tell you that for cities to become future ready, there are three pieces that become very important. First is Human Capital and second is infrastructure and 30s the ecosystem. Human means tracking Human Capital to develop skills needed to drive the meaningful and social economic changes. Infrastructure we understand. Collaboration will become a lot more important from an infrastructure perspective, which is probably not as well thought out. That is why i think trade plays a huge role and collaboration is important. And finally, the ecosystem, technology, telecom, and physical infrastructure. All of these have to create Sustainable Business opportunities for years to come. With a company, and industryleading macroeconomics firm to build an economic model for evaluating cities. We put all of the cities in a global ranking and we have to create a model by which we can compare. Where does a steady city stand against each other . Hopefully we will be able to track this so we can see which cities are progressing. It measures the performance against three features. It allows public and private Sector Community leaders to compare their own strengths to those of other economies. I will give you a few examples. The number one city in the future ready came in was san jose. It is not a surprise, clearly if i give you some examples from san jose. Its innovation and investment perspective. It is number one. They have also increased senior housing, 96 low Income Housing units and they ranked second in the labor force. Generally, hourly wages are 60 62 higher than the national average. If i bring closer to where i live, asia, number three globally is singapore. That is a work leader in Public Private collaboration and labor force engagement. Top three in culture, lifestyle, and data transparency. Singapore infrastructure also help boost its rating. I will give you one more example of new delhi. That was number 44. Digital india is a huge drive in the successful implementation we see. India is on a path to embrace Digital Technologies and reaping the benefits of associated with it. There will be broadband expansion, Electronics Manufacturing in the governments, and we believe that the Publicprivate Partnership we see very prominently in the space of digital india. Entrepreneurship is very much thriving and we believe 266 billion will be startups inindia the course of the last five there are examples from many other cities here. Washington, d. C. Was ranked number five in the same future ready. So if you wanted to know, im sure theres lots of examples here we can talk about as well, including the electronics corridor. But i wanted to switch gears from cities to whats the role governments play. From my perspective, governments have a huge role to play, especially in the time of change, especially in the time of change. And if the changes are accelerating, governments have a role to play. Not only changing themselves but also helping change society and helping change the infrastructure. So the governments role in our minds become, one, foster the innovation by supporting entrepreneurship and the data economy, even the data becomes so critical to future of connected health or connected economies or Living Standards. And that, itself is a huge topic of debate in many governments. So thats, i think, innovation fostering, fostering innovation is a critical part. Second is the preserving trust in the Technology Tools that drive advancement. And thats going to happen through many compliance, appropriate governance, as well as policy. The third one is the enabling social responsibility. It has to be built into the country framework as well as city framework. And last but not least, this is pretty critical from our perspective, which is maintaining open markets. So a combination of these four things will help government create more futureready cities, create more futureready society, and clearly more futureready individuals. Now, Technology Creates a lot of winners. It doesnt have to be winners and nonwinners and this is where governments role in taking the population and the folks who can be developed to thrive in the new economies and the futureready states is going to be more and more critical in the coming days. So in summary, the claims that im making today is, one, changes are happening faster and faster. Changes are exponential. Changes are here. They are not too far away in the future. They are here in the next 5 years, seven years, 10 years and beyond. And these changes require a new approach both by individuals, governments, societies and cities and what we call future ready. We have also shown you a future ready economy model by which using which we have compared multiple cities across the world. And we believe that sort of framework is going to be important for us to continue to see which cities are making progress and not. And finally, governments play a huge role from innovation, from trust, from social responsibility, and from the open market perspective. Thank you. [applause] thank you very that was a introductionearch to a wide array of future ready cities and what we mean when we talk about that here i will focus on a specific area you touched on, which was future ready City Government. How can City Governments help leverage what is going on in the private sector and how to make them more entrepreneurial. Mya little bit about center which is City Solutions and applied research. City governments across the country, on behalf of those countries governments to raise their National Profile and conduct research and best practices on a wide variety of issues. We help city leaders and their staff do their jobs better on a daily basis. It is wideranging in terms of the issues we cover and the ways we engage the cities. It is directly related to how we help cities do their jobs better. I want to talk about innovation first, my perspective on what innovation means when were talking about local governments. This is a quote from former mayor Ron Littlefield in chattanooga, tennessee, he says it is not glamorous, but it is innovative. I think cities have always been focused on solving problems. Talk about innovation, it is how do cities confused data and technology to help them do that job better. Mayor wasly, the talking specifically about a new program in detroit that was leveraging data to help better understand how low income populations can better be connected to social services in is about problem solving and doing that in new ways. We know that cities across the country are leveraging data and technology in different types of ways. There are common characteristics. Embracing being future ready, we notice they are datadriven. This is specific to their internal operations. They are open and engaged. Well talk about open data, but that is much more expensive then just opened it appeared their Customer Service driven. That is how they engage with the Business Community and other folks outside of local government who may not have the down in the get processes. Being datadriven, one of the ways that cities are being datadriven is through Performance Management. We are noticing that Performance Management is one type of process. We are also seeing innovation Delivery Teams and chief data officers and chief technology officers. These can all be under the umbrella of datadriven, although we would argue that they had various functions that are differentiated. Generally speaking, it is a way of infusing datadriven information throughout city hall. Performance management specifically is a process of consistently reviewing data to inform decisionmaking. It is a collection of data, understanding how outcomes, particularly Service Delivery outcomes of City Government stacks up against stated goals that cities have and it is using metrics to pinpoint how that is happening. It is using this information. It is using this information to really drive decisions to staff programs, to redirect policy and budget at the city level. Subsidies are advancing the use of data and technology, information through the Performance Management system to also begin to use predictive analytics. If you are in the space you have probably heard a lot about it. It as the Gold Standard of Performance Management. How can cities use Data Information they have now to predict where the next pothole will be, where the next crime spree will happen. That is amazing. We are not noticing a lot of challenges. We still need to learn from those places in the city of boston. They are using crime data to better understand where the next vacant property challenges will be. They are addressing some of the problems that ar