#12 - Dr. Terence Tse - On how Technology can make a big impact on society, and why learning new things will be key

My guest on this week’s podcast is Dr. Terence Tse.

He’s an Associate Professor of Finance at the London campus of ESCP Europe Business School and a co-founder and managing director of Nexus Frontier Tech: An AI Studio, which customizes artificial intelligence products for its clients to build up new capabilities to attain unfair business advantage.

He is consulting for the EU and UN and provides regular commentaries on the latest current affairs, market developments, education, artificial intelligence and blockchain in many outlets, including the Financial Times, The Guardian, The Economist, CNBC, Les Echos, the World Economic Forum and the Harvard Business Review. He has also appeared on radio and television shows on China’s CCTV, Channel 2 of Greece, France 24, Japan’s NHK and Radio România Cultural.

Last but not least, he’s the co-author of the best-seller 'Understanding How the Future Unfolds', which introduced the framework DRIVE to Harness the Power of Today's Megatrends. His rich and interesting background was exactly the reason I invited Terence to my podcast – to get his views as an educator and entrepreneur on how technology can make a positive impact on people in society – and what needs to be done to get this right.

We discuss how technology is fundamentally changing the nature of work and what this means to people in terms of our future role, and the skills and attitude we need to have to thrive. Here are some of his quotes:

“I think in the future what we will be seeing is that lots and lots of people will be taking on gig econ, different gigs to make up a portfolio rather than working with someone.

..there will be more and more people needing to do different things at the same time, which in turn, changes the skill sets that is required.

..even though technologies can do a lot of things ‑‑ you can automate things ‑‑ a lot of the time, you can only automate up to a certain point, where you would then need to have human to actually step in.

..there's no way in heaven that machines will basically replace human, because everything is basically human problems, as you can see, and machines don't do problem‑solvings.

..everyone, regardless of which country you're from, have almost the same access to the same type of technologies.

The difference between different people would be who they are. How you actually distinguish yourself would basically depend on how motivated you are to learn new things.”

By listening to this interview, you will learn three things:

1. Why we need to transform the way we think about how our workforce can add the most value, particularly in combo with AI?
2. What to do to ensure AI lives up to its true potential?
3. How and where to apply AI in your business if you are starting for the first time?