'Let Market Decide Fate Of Bad Assets'
Business Today|July 02, 2017

Last year, global consultancy PwC did something it would have never done a decade ago. It acquired a drone company and added a commercial drone services division in an attempt to position itself as a technology-driven company. This transformation is being done because technology is a bigger disrupter than globalisation for countries, corporations and societies, PWC’s global Chairman, Robert E. Moritz, tells Business Today’s Joe C. Mathew & Rajeev Dubey. Here are the edited excerpts:

- Joe C. Mathew & Rajeev Dubey
'Let Market Decide Fate Of Bad Assets'

Is the idea of globalisation under threat?

It is under threat depending on the angle you take. Globalisation has brought billions of people out of poverty. Has it done enough to reduce income inequality? No, there is more to be done there. But let’s not blame globalisation for that (inequality). When you look at employment, and this is an issue in even this country, job creation is happening in a big way, but there is also a lot of skill mismatch when you look at the implications of technology. In developed countries, jobs are being replaced by robotics and artificial intelligence and technology in general. How do you deal with disruption caused by technology? It seems our politicians, media and citizens are more focused on globalisation than technology. I would argue that technology will have a bigger impact than globalisation.

How can we tackle the situation?

There are several options. We think technology has displaced a lot of jobs. During industrial revolution, too, a lot of jobs were displaced. There was job displacement but an equal or additional job creation too. So, if you see how many coders we need to deal with this (technology disruption), perhaps we need more. So many countries are struggling with shortage of engineers. If you believe there will be a lot of job displacement, and I am not convinced myself, you should think of a social support system. And there are positives and negatives here too. So, it is important for governments and businesses to watch the trends carefully and come up with the right policy support.

How should global corporations see Brexit?

この蚘事は Business Today の July 02, 2017 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

この蚘事は Business Today の July 02, 2017 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

BUSINESS TODAYのその他の蚘事すべお衚瀺
"Focus on the challenge of each customer"
Business Today India

"Focus on the challenge of each customer"

SHASHANK KUMAR MD & CO-FOUNDER I RAZORPAY Razorpay is India's first full-stack financial solutions company

time-read
1 min  |
December 08, 2024
PEDAL ON THE FUTURE
Business Today India

PEDAL ON THE FUTURE

THE MG WINDSOR EV, WITH ITS FUTURISTIC AND MINIMALIST DESIGN, COMBINES THE BEST OF BOTH WORLDS-COMFORT AND TECHNOLOGY

time-read
1 min  |
December 08, 2024
BREATHE EASY
Business Today India

BREATHE EASY

Whether you're battling allergies, looking to remove pollutants, or simply want to breathe easier, the right air purifier can make a difference

time-read
2 分  |
December 08, 2024
The Taste of India in a Glass
Business Today India

The Taste of India in a Glass

FROM ROYAL LIQUEURS TO DISTILLED MAHUA, INDIAN HERITAGE ALCOHOLIC BEVERAGES ARE HAVING THEIR DAY IN THE SUN

time-read
4 分  |
December 08, 2024
LOOK BEFORE YOU LEAP
Business Today India

LOOK BEFORE YOU LEAP

IN 2025, INVESTORS WILL NEED TO FACTOR IN VOLATILITY ACROSS ASSET CLASSES

time-read
5 分  |
December 08, 2024
MISSING ADVISORS
Business Today India

MISSING ADVISORS

INDIA HAS JUST ONE INVESTMENT ADVISOR FOR NEARLY EVERY 200,000 INVESTORS. AT A TIME WHEN RETAIL PARTICIPATION IN THE STOCK MARKETS IS BOOMING, THIS ASSUMES SIGNIFICANCE

time-read
7 分  |
December 08, 2024
TURNING A CORNER
Business Today India

TURNING A CORNER

SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE

time-read
5 分  |
December 08, 2024
REALITY CHECK
Business Today India

REALITY CHECK

INDIAN STOCK MARKETS PLUNGED BEGINNING OCTOBER FOR A HOST OF REASONS, INCLUDING A FALL IN FII OWNERSHIP. HOW DEEP WILL THE CORRECTION BE?

time-read
6 分  |
December 08, 2024
TRUMP'S TRADE TANGO
Business Today India

TRUMP'S TRADE TANGO

The return of Donald Trump as the 47th President of the US has put the global economy on edge. India, too, is unlikely to remain unaffected. How will policymakers meet this latest challenge?

time-read
9 分  |
December 08, 2024
"The essence of the Trump administration will be transactional”
Business Today India

"The essence of the Trump administration will be transactional”

Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more

time-read
10 分  |
December 08, 2024