Summary of the European Executive Forum conference

The Guest of Honor of the conference was Jerzy Kwieciński, Minister of Investment and Development, whose opening speech focused on the growing employment rate in Poland, decreasing level of debt, and record low budget deficit. The Minister also pointed to the rapidly developing innovation sector in Poland.

How to win in the era of AI, robotization, and automation? The panelists first focused on the effectiveness of artificial intelligence. According to speakers, before the implementation of AI in a company it is advisable to perform thorough analyses to make sure that the investment will be beneficial. Another topic discussed was the areas in which the application of AI should be most extensive. The speakers agreed that the areas that would benefit most from the implementation of AI are progressive robotization, companies from the financial industry, and the production of autonomous cars. The discussion also included the topic of machines taking over more and more responsibilities of physical workers. The first debate was summarized with a statement that artificial intelligence is just a technology, and it is up to us to decide how it should be used.

The panelists of the second panel began the discussion from innovation in practice. They discussed the story of the iPod, which was initially designed by Sony. The brand was mainly focused on improving current players and therefore, it decided not to mass-produce the new player. According to the panelists, this resulted from the fear of the innovative solution, which was treated as a threat to the popularity of existing devices. The idea was taken over by Apple, which focused on the production of the new device. Sony lacked a clear strategy, leadership, and answer to the question: if a given organization does not implement an innovation, will it still be done in the future? According to the panelists, the answer to this question is “yes”. They also stressed the role of cooperation between enterprises and universities as the source of innovative solutions. In summary, regardless of whether innovations are inside the company or are implemented slightly on the side, they are an inherent feature of all industries.

At the beginning of third panel, the panelists pointed to the fact that the disappearance of physical currency can be caused not only by the development of virtual money, but also by automation. When a factory becomes fully automatic and no longer requires human labor, nobody needs to be paid. According to the panelists, the adjustment of the tax system to the changes taking place on the labor market will also pose a great challenge. The progressing automation prompts people to change their trade and set up their own businesses, based primarily online. It will, therefore, be important to adjust taxation in such a way as to maintain the balance from before these changes. It is also important to implement legal regulations conducive to the development of modern forms of payment. One of them is the regulatory sandbox, in which fintechs can enter the traditional economy to experiment without having to obtain licenses. Another option is the so-called stable coin, or stable bitcoin, which central banks are currently working on.

After the end of the content-oriented part, it was time for the evening gala. Its highlight was the awards ceremony honoring the best companies, outstanding managers, and business leaders who implement the highest standards of leadership. This year 9 awards were granted in 8 categories!

Winners of “European Leadership Awards”:

TECHNOLOGY LEADER

Amazon

INNOVATION LEADER

PKO Bank Polski SA

CEO OF THE YEAR

Piotr Śliwicki – President of the Management Board of ERGO Hestia SA

GLOBAL SUCCESS LEADER

Synthos SA

LEADER IN FINANCE

PZU SA

SUSTAINABILITY LEADER

Kompania Piwowarska SA

VISIONARY ENTREPRENEUR

Jerzy Starak – Chairman of the Supervisory Board of Polpharma SA (winner)

Dariusz Mioduski – President of the Management Board of Legia Warszawa SA (distinction)

SPECIAL AWARD: PERSONALITY OF THE DECADE

Waldemar Dąbrowski – Director of Teatr Wielki – Polish National Opera in Warsaw