Speaker 1: With Laurent's segole and from London and Gerard read from Berlin.
Speaker 2: This is redefining energy.
Speaker 3: Today on Reefin Energy. This is our last episode of
Speaker 3: Arsona series. We're going to restart very strong early September
Speaker 3: with extraordinary guests that we have the privilege of having
Speaker 3: conversations with. But for this episode, job you was so
Speaker 3: good that it really deserved an episode, and you were
Speaker 3: on stage explain what it was.
Speaker 1: Yeah.
Speaker 2: So I was invited a few months back to present
Speaker 2: at the customer event of Ecovadas and Ecovadas is one
Speaker 2: of the biggest consultants in the whole area of sustainability
Speaker 2: across the world. So what they do is they will
Speaker 2: look at the whole value chain and do everything from
Speaker 2: measuring carbon emissions to whatever. But that's what they do.
Speaker 2: Really interesting for me just it was a different type
Speaker 2: of people in the room that I'm used to speaking to.
Speaker 2: So you're talking to people who are sustainability officers and
Speaker 2: procurement officers and stuff like that in industrial companies across
Speaker 2: the world. So yeah, that was what I was doing.
Speaker 2: The fan took and place in Paris some months back.
Speaker 2: Because the business is French, very nice and.
Speaker 3: You had good feedback afterwards.
Speaker 2: Great feedback, Yeah, absolutely, great feedback.
Speaker 3: Well, look, the guys don't give us a good feedback,
Speaker 3: they can't go to hell.
Speaker 1: Which are that?
Speaker 3: Okay, let's listen to the conversation. He's welcome, Energy transition
Speaker 3: expert and sustainability leader, Gerard read.
Speaker 4: Well, thank you very much for actually having me. I
Speaker 4: come from the finance world, and I've probably spent the
Speaker 4: last twenty years of my life really advising people what
Speaker 4: to do with their money in this whole technology area
Speaker 4: and energy area, and I'm very convinced that actually we're
Speaker 4: in a revolution, and I'm going to talk a little
Speaker 4: bit about that and what it means. Right if I
Speaker 4: look back in time, which you realize is the biggest
Speaker 4: revolutions in terms of progression of mankind, in terms of GDP, etc.
Speaker 4: Happen when you have an industrial revolution, and industrial evolution
Speaker 4: happens when you have a technology innovation and you have
Speaker 4: some new use of energy. So the first one was
Speaker 4: there by Britain and that was the steam engine and coal,
Speaker 4: and then we had the second one, which was led
Speaker 4: by the United States Europe, and what we had was
Speaker 4: internal combustion engine and automobile. Now, if you compare it
Speaker 4: to China, what you realize is that China actually hasn't
Speaker 4: developed over that period whatsoever. So the Western world went
Speaker 4: like this, right, and again, huge impact when we go
Speaker 4: through this period. I'll make a point now that we're
Speaker 4: in the exact same situation today and we're in the
Speaker 4: industrial evolution, that every industrial evolution is all about digitalization
Speaker 4: and it's about electricity. I really don't care tomorrow if
Speaker 4: I don't have oil. This city here, if it doesn't
Speaker 4: have electricity for three days falls apart. Okay, you can't
Speaker 4: do anything without electricity. Now you can imagine. I'm just
Speaker 4: saying we're only the beginnings of this. The reason I'm
Speaker 4: saying this is because AI is an enormous change, and
Speaker 4: I make a point that it is the biggest technology
Speaker 4: revolution we've seen in the history of mankind. That's how
Speaker 4: big it is. So I'm going to talk a little
Speaker 4: bit about what that means. So the first question you
Speaker 4: asked is, how do you know where they're in a revolution?
Speaker 4: In other words, Jared, you're talking about the future.
Speaker 1: How do we know you know what when experts gets
Speaker 1: things wrong?
Speaker 4: Okay, I'm just going to talk about those of you
Speaker 4: probably have heard a deep seek and stuff like this.
Speaker 4: Ali Baba is the Amazon of China. They just announced
Speaker 4: a program the other day and I have program called
Speaker 4: q when and QWN has better math scores and basically
Speaker 4: everything we have done in the West, in the AI world,
Speaker 4: and they're doing this at one six of the energy costs.
Speaker 4: Now again, I had conversations before Christmas with experts in
Speaker 4: the area, and they say the Chinese are way behind. Okay,
Speaker 4: They're not way behind, right. The second thing, though, I
Speaker 4: would go on and say, is it's not just in
Speaker 4: the AI space, this is in the solar space. This
Speaker 4: is the IA International Energy Agency twenty nineteen predictions where
Speaker 4: twenty twenty four we'd have cottal renewable installations of.
Speaker 1: Two hundred and fifty gigawatts.
Speaker 4: So just to give you an idea, China last year
Speaker 4: just in solar was three hundred and the global was
Speaker 4: six hundreds. So completely wrong, not just a little bit,
Speaker 4: but can completely wrong. I come from the investment banking world.
Speaker 4: Didn't work for Goldman. Sachs are going to smack them.
Speaker 4: Goldman smacks basically said twenty nineteen, forget about the electrification
Speaker 4: of the automobile. It isn't going to happen. We basically
Speaker 4: believe by twenty thirty we'll have ten million evs. Okay,
Speaker 4: China is at that level today, all right, Just just
Speaker 4: China is at that level today. But it's not just that.
Speaker 4: If any of you are Dutch and you're living there
Speaker 4: and you want to go and get a new house connected,
Speaker 4: you want to get a new business connected. In terms
Speaker 4: of power connection, you cannot get power all right, that's
Speaker 4: not normal because you sort of go, well, you've been
Speaker 4: predicting power flows for the last one hundred years, why
Speaker 4: can't you certainly not do it now. But again I'm
Speaker 4: making a point is that there's so much change going
Speaker 4: on that the established leaders can't do it. And it's
Speaker 4: not just that if we decide today we want to
Speaker 4: order a transformer, you know, a standard piece of electrical equipment,
Speaker 4: or a gas turbine, you could be waiting until twenty thirty.
Speaker 1: To get one.
Speaker 4: They're sold out across the whole world. Then my last
Speaker 4: point I would make in this is if you go
Speaker 4: and look and we'll complare the old world to the
Speaker 4: new world.
Speaker 1: For me, Germany is the old world.
Speaker 4: It's full of industrial companies that were built at the
Speaker 4: beginning of the twentieth century. And the value of the
Speaker 4: top forty companies in Germany is two trillion, and you've
Speaker 4: got three US companies that have valuations higher than that.
Speaker 4: Just one company. I'm not talking three companies. I'm talking
Speaker 4: one company. That only happens when the stock market, the
Speaker 4: financial investors, is saying, well, the futures with those companies, right,
Speaker 4: that's what it's telling you. Okay, So what does this mean?
Speaker 4: Let me just talk a little bit about this. The
Speaker 4: one thing I'm going to start with is AI. The
Speaker 4: speed of change in AI is unbelievable. I started using
Speaker 4: chat GBT two and a half years ago and I
Speaker 4: tried doing basic mathematics with it, and it was making
Speaker 4: mistakes and I would ask, why are you making mistakes?
Speaker 4: And it would say, nobody's perfect. Okay, That's what it
Speaker 4: was saying to me. Now, what's really interesting is we're
Speaker 4: now at PhD level in all of the sciences. We
Speaker 4: haven't bypassed the top ones yet, but we're not far off.
Speaker 4: So just the speed of change is genormous. I want
Speaker 4: to talk a little bit about what's going to happen
Speaker 4: going forward. We are definitely going to integrate this into
Speaker 4: our workplaces, and the first place that's going to happen
Speaker 4: is in and around customer support. I take a very
Speaker 4: simple example. If I want to go to a doctor today,
Speaker 4: what does the doctor do? He asked me a series
Speaker 4: of questions. He might measure my blood pressure. That's what
Speaker 4: he does, and then he gives a diagnosis.
Speaker 1: I'm sorry.
Speaker 4: I have a blood pressure monitor today that I can use.
Speaker 4: You can see where I'm coming from. I go on
Speaker 4: to an internet program and basically AI is giving me
Speaker 4: that first step in terms of what's wrong with me,
Speaker 4: what's not and I can take that through every area
Speaker 4: of customer service. Okay, So that's the first point that.
Speaker 1: I would say.
Speaker 4: The second point is Robot taxis are coming now. Robot
Speaker 4: taxis are autonomous cards, and I just want to give
Speaker 4: an eye on the left. There is the amount of
Speaker 4: autonomous rides that are taking place, and way more, which
Speaker 4: is Google nine million annualized autom autonomous drives are taking
Speaker 4: place now.
Speaker 1: In Europe.
Speaker 4: It's not allowed, okay, but this is happening already in
Speaker 4: the United States. And you've got a whole pile of
Speaker 4: Chinese companies pick packing up on this, et.
Speaker 1: Cetera, et cetera.
Speaker 4: Now, why this wins is because of cost. Because if
Speaker 4: I've got autonomous car that drives around twenty four hours
Speaker 4: a day, guess what the cost of driving that kilometer
Speaker 4: collapses down. And that's where we're going. You cannot stop
Speaker 4: it because it's technology and its economics. And if you
Speaker 4: decide to tech blow blocket, guess what happens. You just
Speaker 4: lose a competitive advantage. That's what happens because somebody else
Speaker 4: will do it instead of you. The next point I
Speaker 4: would say is AI will have a massive impact on
Speaker 4: health and longevity. So for those of you realize we've
Speaker 4: obviously been through a COVID crisis.
Speaker 1: Boats of the.
Speaker 4: Leading drugs that were produced during this period were done
Speaker 4: with the aid of AI. Okay, realize that these two
Speaker 4: drugs came onto the market and they were on the
Speaker 4: market within six months. This has never happened before in
Speaker 4: the history of pharmaceutical development. And by the way, boats
Speaker 4: the companies that developed these drugs were in the cancer area,
Speaker 4: and then we're shifted to go and develop something in
Speaker 4: the area of the flues, which is they're not in.
Speaker 3: Now.
Speaker 4: I say this because this is only the start of this.
Speaker 4: We're going to test everything. What this means when you
Speaker 4: test everything is you can prevent diseases or catch them early.
Speaker 4: I heard one recent and I won't mention who he is,
Speaker 4: but CEO one of the pharmaceutical business said by twenty
Speaker 4: thirty there will be no cancer in the western world.
Speaker 4: I mean, that's a big statement that he made, and
Speaker 4: again this is because of AI. Next point I would
Speaker 4: make is we are moving to humanoid robots. We already
Speaker 4: have them in factories. Go into a Chinese automobile factory today,
Speaker 4: it's full of them, right, But we will use them
Speaker 4: in our homes.
Speaker 1: Okay.
Speaker 4: My brother the other day sent me from Barcelona a
Speaker 4: picture of a robot dog that walked in front of him,
Speaker 4: and he called the dog over him and the dog
Speaker 4: went chup, chup and looked at him like this.
Speaker 1: Right.
Speaker 4: I'm just saying that's where we're going. People are going
Speaker 4: to integrate them again because of economics and because I
Speaker 4: don't like washing the dishes, so if I can get
Speaker 4: a robot to do it, great.
Speaker 1: Okay.
Speaker 4: What I would say about all this, though, is if
Speaker 4: you've got AI, you need electricity. It's as simple as that.
Speaker 4: You need electricity. If your robot runs out of batteries
Speaker 4: or whatever it is, electricity, it doesn't work. Okay, So
Speaker 4: electricity really incredible. And when we digitalize things again, you
Speaker 4: need more and more electricity. The future going forward is
Speaker 4: you electrified. What this means, though, is power demand will
Speaker 4: go up across the world. Now, power demand will go up,
Speaker 4: not just because we're electrifying what I'm talking about. Did
Speaker 4: you like, you're going to electrify industry, You're going to
Speaker 4: electrify heating, you're going to electrify transport, and you're going
Speaker 4: to do data centers, etcetera, etc. So again I'm looking
Speaker 4: at the world where I don't care about oil or
Speaker 4: gas anymore.
Speaker 1: I really don't.
Speaker 4: I care about electricity, and all of us in the
Speaker 4: room care about it because if your mobile phone runs
Speaker 4: out of batteries, it's a complete ain in the backside.
Speaker 4: Let me make another statement is that the future system
Speaker 4: will be based around solar. And you might go, oh
Speaker 4: my god, what's he talking about. So just to give
Speaker 4: you an idea, today, we're moving to a situation of
Speaker 4: what i'd call plug and play solar. Plug and play
Speaker 4: solar is where I put a solar panel there, the
Speaker 4: sun is there, and I plug it in the wall.
Speaker 4: There is no electrician needed, no engineering, nothing in Germany today.
Speaker 4: If I do this, it's called balcony solar. I'm generating
Speaker 4: electricity of four cents killer whatever I pay in Germany
Speaker 4: thirty five cents. Do you really think that people are
Speaker 4: not going to do this? And do you really think
Speaker 4: you're the're gonna stop it? You're not because it's so economic.
Speaker 4: It's about economics. It's not about anything else about economics
Speaker 4: and ease of actually going and installing something. The next
Speaker 4: point I would say around this is that we will
Speaker 4: also have lots of batteries. Now why do I say batteries, Well,
Speaker 4: guess what. Of course, what happens when the sun goes out,
Speaker 4: sun's not there. You need to store it. When you
Speaker 4: store it in batteries. And you might say, oh, we
Speaker 4: can't do this. Every single person in the room here
Speaker 4: has a battery in their pocket. I count to my
Speaker 4: own home as it is, there's probably two hundred batteries
Speaker 4: in my home. So what's the problem. I put another
Speaker 4: bigger battery in. It's called an electric car. I connect
Speaker 4: it into a power system. I put another battery in
Speaker 4: my garret.
Speaker 1: What's the issue. The batteries will be everywhere.
Speaker 4: Okay, And again it becomes back to economics.
Speaker 1: If we decide today that.
Speaker 4: We're going to build a nuclear power station, it'll take
Speaker 4: us ten years. If we decide today we're going to
Speaker 4: build a gigawater solar and put batteries around it, I
Speaker 4: can do it a year. Remember, if it's about speed,
Speaker 4: that's what I'm talking about. Speed in economics is really
Speaker 4: critical to this. Okay, let's talk a little bit about evs.
Speaker 4: What we've got in the EV area is we've got
Speaker 4: cost party. In terms of production of automobiles internal combustion engine,
Speaker 4: it peaked in twenty seventeen. That means Renald BMW, etc.
Speaker 4: Et cetera, we're producing less and less in them every year.
Speaker 1: That's a fact.
Speaker 4: Young generation don't want to drive as much as we do.
Speaker 4: For a start, it's not a status syllable. And again,
Speaker 4: if you're Chinese, forty percent of all young people buy
Speaker 4: electric cars straight away. We also have reached cost party
Speaker 4: in China that this is very very very important. Cost
Speaker 4: parity means that once you've got a car that performs better,
Speaker 4: it's cheaper to run and cheaper to buy. Are you
Speaker 4: really going to buy that more expensive thing? Now, Don't
Speaker 4: get me wrong, there's people out there still by Harley
Speaker 4: Davison's so I'm sure there's going to be people out
Speaker 4: there in the future who will buy Renolds and diamoners
Speaker 4: and stuff like that. But it's a tiny niche market. Okay,
Speaker 4: the mass will not do this because it's just too expensive. Now,
Speaker 4: what does AI mean for the world of electricity? Well,
Speaker 4: the electricity system that we have in place is a
Speaker 4: pretty stupid system. It was invented like one hundred and
Speaker 4: twenty five years ago and we still manage it in
Speaker 4: the same way. And what that means is the grid
Speaker 4: operator constantly tries to predict demand and then he turns
Speaker 4: on and off turbines to make sure they match. That's great,
Speaker 4: but we're now in a really complex world where we've
Speaker 4: got so many devices connected into this power system that
Speaker 4: actually that doesn't work anymore.
Speaker 1: So we have to.
Speaker 4: Change the way we think about this. That means we
Speaker 4: need to have the boat sides demand dynamically matching some
Speaker 4: fly and have storage in between. That's where we're going,
Speaker 4: and it requires real innovation and I would say, release
Speaker 4: of technology into this world. What I will say all
Speaker 4: of this means is this is the good news. The
Speaker 4: world is very close to peak carbon emissions. Now why
Speaker 4: do I say that, I say that very simple is
Speaker 4: because if China peaks, the world peaks, and China is
Speaker 4: really close to peaking. Now I give you the numbers.
Speaker 4: For example, in terms of China last year, China would
Speaker 4: have installed three hundred and fifty gigawatts of renewables last year.
Speaker 4: To put that into perspective, that's the power needs of France, Germany,
Speaker 4: Italy put together. That's what they've done in one year.
Speaker 4: All right, So just the scale of transformation is enormous.
Speaker 4: They do are basically installing fifty percent of everything across
Speaker 4: the electricity and renewable space. And again they're not doing
Speaker 4: this because it's expensive. They're doing it because it's cheap
Speaker 4: and because it makes economic sense, and it definitely makes
Speaker 4: geopalytical sense. You really believe that Africa is going to
Speaker 4: follow us? Why would they follow us? Why would you
Speaker 4: follow something from the twentieth century? And by the way,
Speaker 4: they didn't do this in the mobile world. What did
Speaker 4: they do? They didn't build fixed line telecommunication cables like
Speaker 4: we did. They went straight into satellite and mobile and
Speaker 4: they'll do the exact same thing in the electricity space,
Speaker 4: the exact same thing. You will move into a system
Speaker 4: that is based on solar whip batteries with other form storage,
Speaker 4: very clever power electronics in there, and guess what you
Speaker 4: add into that AI and the ability to learn in
Speaker 4: a completely different way than all of us in the
Speaker 4: room here have learned. That's how they leap frog, and
Speaker 4: they will leap frog it. Let me give you an example.
Speaker 4: What's going on in Pakistan. So Pakistan has very expensive
Speaker 4: power and the Pakistan Industry and Commerce Association about a
Speaker 4: year and a half complained to the government and said,
Speaker 4: you need to release the power of the market and
Speaker 4: let us bring in Chinese solar and batteries. And they said,
Speaker 4: the reason we do this is we can't compete with India.
Speaker 4: So what they did was they released got rid of
Speaker 4: all tariffs and then suddenly what ended up happening is
Speaker 4: they've had a boomer solar so much so that they
Speaker 4: think there's fifteen gigawa's a solar and this is in
Speaker 4: a market where there's thirty giga. What's the solar there
Speaker 4: is no subsidies in place, there was no financing in place.
Speaker 4: This is just businesses going we have to do this
Speaker 4: because it's how we stay in business. And again that
Speaker 4: just use that as an example. You will see this
Speaker 4: all across Africa. The exact same thing will happen South Africa, Nigeria,
Speaker 4: Tanzan eight. They will all go this route again because
Speaker 4: of economics. What I will say in this revolution is
Speaker 4: many global leaders will not survive. I'm sorry to saying
Speaker 4: as European, I put my hand up. I look at Volkswagen,
Speaker 4: I go sorry. You were the number one producer in
Speaker 4: China for the last fifteen years and you still have
Speaker 4: not been able to produce an electric cards as good
Speaker 4: as the Chinese. And by the way, you're slow at
Speaker 4: it and you're really expensive and you haven't actually gone
Speaker 4: restructured your business.
Speaker 1: Good luck to you.
Speaker 4: So the BYD here, if you prepare the two of them,
Speaker 4: Volkswagen software as systems, pretty dour go in the BYD
Speaker 4: everything works and it's cheaper, okay, And I mean it's
Speaker 4: cheaper in terms of their cost production. They're selling at
Speaker 4: the same price as Volkswagen, because prices of cars in
Speaker 4: Europe are more expensive. But the point I'm making all
Speaker 4: of it is you can see who's going to win
Speaker 4: going forward. Now, what I will also say is that
Speaker 4: they're going to be really positive surprises going forward. The
Speaker 4: really positive surprises should not be surprised to anyone in
Speaker 4: the room. If you realize that China has three point
Speaker 4: five million STEM graduates that come out every year, Germany
Speaker 4: has two hundred thousand, how can you compete with that?
Speaker 1: You can't.
Speaker 4: And they're really really well educated, they're really hard working,
Speaker 4: and they're eager to actually have the living standards that
Speaker 4: we want to have.
Speaker 1: What this is is great because what.
Speaker 4: This means is innovation speeds up, and there are things
Speaker 4: out there that we think about now that might happen
Speaker 4: or might not happen. I give you a very simple example.
Speaker 4: It's just super intelligence in terms of where you have
Speaker 4: literally human level intelligence from computers. That's a possibility. I'll
Speaker 4: say that to you now and again the reason is
Speaker 4: is because you've got so many great minds competing with
Speaker 4: each other.
Speaker 1: Across the world.
Speaker 4: What I want to say, though, is that this AI
Speaker 4: revolution is an opportunity and a threat. It's a threat
Speaker 4: if you do nothing and ignore it. And it's an
Speaker 4: opportunity if you jump on and actually understand and deal
Speaker 4: with it. So I talked to myself. Then what the
Speaker 4: issue in all of it though, makes it really complex
Speaker 4: is the geopolitical situation. I'm not going to win stop,
Speaker 4: but we know this, it's complex. Europe is, without a doubt,
Speaker 4: stuck in the middle between Russia China US. Not easy
Speaker 4: and again complicates everything. What I'm sort of leaving you
Speaker 4: with the message is what should you do? Right You're
Speaker 4: all executives companies across the world.
Speaker 1: What should you do?
Speaker 4: The first thing I'm going to say to is shift
Speaker 4: the mindset and see AI as an enabler, not a threat.
Speaker 4: If you see AI is a threat to your job,
Speaker 4: it is a threat to your job because it means
Speaker 4: you're not enabling it and you're not actually on top
Speaker 4: of it. And I do make this point about ais
Speaker 4: AI will not take your job, but a human being
Speaker 4: with AI will. So if you're not engaging with it,
Speaker 4: you've got a problem. And I will say, as a
Speaker 4: middle age white man, it enables my generation because it's
Speaker 4: the first technology that's really easy to use that actually
Speaker 4: enables me to compete with the twenty five year old
Speaker 4: is coming out of a skill set that I don't
Speaker 4: have now say that to everyone in the room. Very
Speaker 4: very important to realize that it's that simple to use. Okay,
Speaker 4: but we have to have it in our daily work.
Speaker 4: And I also want to make a point. It does
Speaker 4: mean that as our organizations have to have a growth mindset.
Speaker 4: A growth mindset is about learning, which is okay, you
Speaker 4: know what I learned in the past, it's wrong or
Speaker 4: you know it's out without grown it. We have to
Speaker 4: go and change our mindset. It is a little bit
Speaker 4: of the Californian mindset that you see you in a Google,
Speaker 4: a Microsoft, etc. We need this in our companies. I
Speaker 4: don't care what company you are, we need it. So again,
Speaker 4: this growth mindset for me is fail fast, learn fast, growth,
Speaker 4: start what's oneself. Be comfortable with change. Really, we have
Speaker 4: to get our organizations comfortable with change. We also need
Speaker 4: to be not afraid to take risk because it's very
Speaker 4: hard to pick the winners in a revolution. But we
Speaker 4: have to do something. You have to actually make decisions
Speaker 4: in it. I thought about a lot of you are
Speaker 4: in the procurement area. What are you going to do?
Speaker 4: I think the first thing I would say is enhance
Speaker 4: resourcefulness with AI, and that's predictive analytics.
Speaker 1: You can predict.
Speaker 4: Things before they can happen. You can automate processes, you
Speaker 4: can optimize energy uses by changing the way you use
Speaker 4: it and the way you buy it. And you can
Speaker 4: also go into data driven innovation. So this is really
Speaker 4: really critical to engage this. The next thing I would
Speaker 4: say is push sustainability. What the lovely thing about AI
Speaker 4: is is you can measure everything and you can analyze it.
Speaker 4: You've got all data. You can take the data and
Speaker 4: you can do things with it.
Speaker 1: You can make decision out of it.
Speaker 4: Obviously carbon footprint is one area of it, but also
Speaker 4: just decision making, waste management, etc.
Speaker 1: Etc.
Speaker 4: And the third thing I would say is strengthening resilience
Speaker 4: with AI. This is really really critical. By last point,
Speaker 4: I come from Ireland. I was quite shocked to see
Speaker 4: in Ireland that one third of the population had no
Speaker 4: power for two days because of some wind. And by
Speaker 4: the way, in Ireland it's a digital economy. You cannot
Speaker 4: pay for anything with cash, it's all a card. So
Speaker 4: suddenly the West of Ireland completely collapses.
Speaker 1: For two days.
Speaker 4: Why I say that is climate disaster. Is on top
Speaker 4: of us, and we have to prepare our companies and
Speaker 4: our countries for this. We also need to in this
Speaker 4: growing world of very difficult geopolitics, we need to make
Speaker 4: sure our supply chains are resilient cybersecurity and risk. I'll
Speaker 4: give you a statistic that I heard the other day
Speaker 4: from a utility in Europe, which is that their systems
Speaker 4: are being attacked on a daily basis by the Russians.
Speaker 4: Was quote on a daily basis, Okay. And then the
Speaker 4: last thing is you need to move to autonomous and
Speaker 4: decentralized systems. If you have a big centralized hum that
Speaker 4: makes all the decisions, it's very easy to take that out.
Speaker 4: And the world we're in, so the last message I
Speaker 4: would say to you is be prepared. And finally i'd
Speaker 4: say to the growth opportunity is enormous. And I make
Speaker 4: that point here, which is you need to be fast
Speaker 4: to stay relevant. And I'm talking about you as individuals,
Speaker 4: I'm talking about you as parents, I'm talking to you
Speaker 4: as business leaders. Irrelevance happens when the speed of change
Speaker 4: outside an organization is greater than speed of change inside
Speaker 4: an organization. And what I'll just say to you is
Speaker 4: I could change that word organization for country, and I
Speaker 4: would say, if that country was France or if it
Speaker 4: was Europe, China is way faster than all of us
Speaker 4: in the row, way faster and we need to actually
Speaker 4: wake up a little bit.
Speaker 1: At that.
Speaker 4: I'll stop, and I hope this was a benefit to you.
Speaker 4: Thank you very much, Thank you for listening to Redefining Energy.
Speaker 4: Don't forget to read the show and subscribe on Apple Podcast, Spotify,
Speaker 4: or the platform of your choice.