HONG KONG, December 9, 2023 /PRNewswire/ — The Future Investment Initiative’s PRIORITY Summit in Hong Kong today brought together leaders from the financial and government sectors for a second day to address global issues of concern to humanity.
A thousand global investors, policymakers, innovators and business leaders were joined by their counterparts from around the world. Asia to discuss “megatrends,” including the unstoppable rise of Asia as an economic power, the impact of technology on lifestyles and jobs, and the deployment of capital across diverse markets and economies.
The day started with a presentation from the CEO of the FII Institute Richard Attias and COO Friend Tarabzoni from the Priority Compass report, a global survey of 53,000 people across 23 countries. The survey found a sharp 20% drop worldwide in people’s overall satisfaction with their lives, with respondents reporting concerns about the cost of living, loneliness, technology and worries climatic. 65% of people in the countries surveyed are concerned about the daily cost of living. Loneliness tops the list of concerns, with 41% of Asia population reporting frequent feelings of loneliness. 55% of people globally are concerned about access to affordable and accessible healthcare, and climate concerns continue to grow as 78% of people in the Global South worry about pollution.
Laurence Moroney, Lead AI Advocate at Google addressed concerns about AI and the risk of bias arising from reliance on restricted English-language datasets. Moroney pointed out that 60% of information on Web 2.0 is generated by bots.
He also argued that AI innovators must consider distinctive local cultural identities in developing AI models and explained that Google’s Gemini strives to condense and preserve cultures into small models, allowing people to interact with, learn from and preserve individual idiosyncrasies. cultures.
A round table on the cost of living was heard Jerry Li, founder and managing partner of eWTP Arabia Capital describes data as the new oil, a resource driving innovation and progress. The 120 zettabytes (120,000,000,000,000,000,000,000 bytes) generated in 2023 are expected to increase by more than 150% in 2025, to 181 zettabytes.
During a roundtable on the future of work Edith Yeung of Race Capital suggested that AI would free people from doing things they don’t want to do, freeing them up for more meaningful activities. The average person will spend 90,000 hours at work during their lifetime.
Raymond Yuan, CEO and Chairman of CTH Group, highlighted the synergies between blockchain and AI that are beginning to emerge in healthcare, life sciences as well as financial services. The global blockchain market size has been estimated to be around $7.4 billion in 2022 and the global artificial intelligence market $428 billion.
A panel of leading Asian venture capital firms discussed ways in which Asia can develop dynamic and prosperous startup ecosystems, with $22.3 billion invested in Asian startups between July and September 2023.
Discuss the impact of investing on longevity and aging Joshua FinkFounder Luma Groupexplained that groundbreaking regenerative medicine, inspired by Nobel Prize-winning research, can return cells to a pre-disease state, offering hope against genetic diseases.
His Royal Highness Prince Faisal bin Bandar bin Sultan, President of the Saudi E-Sports Federation, described the game’s spectacular growth over the past 20 years, at 12% per year. By the end of 2023, it is estimated that there will be 3.75 billion gamers worldwide.
In a fireside chat with an ‘industry titan’ with Sir Martin Sorrell, Richard Attias and Sorrell studied the global media industry, which is worth your time 950 billion dollars, with digital expected to account for 70% by 2025. Regarding the future of platforms such as TikTok, Sorrell explained that with young people’s opinions shaped by new forms of social media, issues around security and data confidentiality will persist. On “hyperpersonalization,” he highlighted that Coca Cola was considering the potential of AI to target individual messages to consumers.
Ami Tarabzoni, COO, FII Institutes presented at the summit FII’s inclusive ESG tool, launched to help emerging market companies improve their sustainability and help investment capital find current and future performance leaders. The tool, which has been made public, will tackle biases inherent in other ESG methods and could unlock a $5.4 trillion investment financing gap in emerging markets.
In the final session, HE Kjell Magne Bondevik forms the Prime Minister of Norway and president of the Oslo Center for Peace and Human Rights said he is convinced that companies that take the concerns of ordinary people more seriously will be the ones that prosper in the future.
The FII Institute worked with HKEX and consultancy Deloitte to offset carbon emissions generated by the summit, by purchasing credits on the HKEX Core Climate exchange, illustrating a shared belief that useful markets and businesses can serve humanity as a force for good.
During the summit, BOC International signed a strategic cooperation framework agreement with SPIC International Finance (Hong Kong) Company Ltd. on green finance, investment and bond issuance and global capital management. The signing took place in the presence of Mr. Paul ChanFinancial Secretary of the Hong Kong SAR.
The summit, organized in partnership with Hong Kong Exchanges and Clearing Limited (HKEX), took place at the HKEX Connect Hall.
The FII PRIORITY Summit Hong Kong continues the conversations held at Riyadh last month. It is part of an ongoing global program of summits, which will be held next year in Miami (FEBRUARY) Brazil (June) and Africa (September))
Richard AttiasCEO of the Future Investment Initiative Institute said:
“I would like to thank the Hong Kong Government, the Hong Kong Stock Exchange and the people of this fabulous city for welcoming us this week. As the world charts its path forward, we must be attentive at all times to the issues that matter. Whether it is the cost of living, the development of new payment methods, new social media platforms or poverty, it is investment and innovation that can make a difference. The investors and innovators here this week have taken these issues seriously and the conversations and hard work will continue as we strive for a better future.”
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E-mail: Media@fii-institute.org
About the FII Institute
The Future Investment Initiative (FII) Institute is a global, data-driven nonprofit foundation with one investment arm and one agenda: impact on humanity. Global and inclusive, we encourage great minds from around the world and turn ideas into real-world solutions in four critical areas: artificial intelligence (AI) and robotics, education, health and sustainability.
SOURCE Future Investment Initiative Institute
