Geopolitics of Talent in MCC FESZT AUG 6th, 2021

Rapidly infecting tens of millions of people.

Very interesting talk.

There's no cure.

Follow this.

There's no vaccine. The world is paralyzed by this new virus. Governments throw societies into lockdown. Businesses stop expanding. Trade slows down. Immigration comes to a halt. All of us have some familiarity with this, I guess. But as this new virus emerges, something unexpected happens. Countries begin fighting with one another over critical talent. The United Kingdom announces that it wants to repatriate, bring back, all British AI experts, except countries like Australia and Japan won't let these people leave. They want them for themselves. Taiwan says that if you want access to Taiwanese talent, you first have to invest in our economy. So countries like the US and France have to invest tens of billions of dollars in Taiwan. And Brazil passes perhaps the most radical idea. Brazil says that every foreign technology company like IBM and Google and Microsoft has to share their most sensitive technologies and most skilled people with Brazilian pharmaceutical companies because Brazil needs to create a vaccine and it needs access to these people and technology. And Brazil says that any country— any company that doesn't do this will be banned from the Brazilian market indefinitely. So as a new virus takes place Nations are not just fighting to stay healthy, they are now fighting over talent. Talent has become a variable of geopolitics. Ladies and gentlemen, my name is Abhishek Prakash. I am a geopolitical futurist and co-founder at Center for Innovating the Future in Toronto, Canada. My focus is on how technology is remaking geopolitics. And what this means for a country, company, or city. In 2013, I coined the expression next geopolitics to define how technologies like AI and robotics and gene editing— how these technologies are changing world affairs. And perhaps my global upbringing, my global outlook, is a result of my global upbringing. I was born in New Zealand. I had my childhood in Sydney, Australia. I'm also the author of 5 books, 3 of which have been published in Hungarian by my friends at Palasz Athén in Budapest. And my newest book, The World Is Vertical, will be launching later this year, and I'll talk more about what this book is later in the session. So some of you might have gone through The MCC schedule, and you might have been wondering, what the hell is this guy talking about? Geopolitics of talent, what does that even mean? So let me spend a few moments defining it, because here at the MCC Festival there are so many students, so many young people, and your jobs, your occupation, your careers are going to be defined by this new fight between governments for you. So geopolitics is about how nations fight for power— global power, regional power. Who calls the shots? Who's the top dog? And for the past 70 years, geopolitics has been governed by variables like oil, natural gas, currency, defense, and ultimately war. Now, however, Technology is starting to drive geopolitics. The fight between the US and China, for example, is a fight over technology. And as nations seek to become technology powers or superpowers, they need to attract the best minds. If Hungary wants to become a global AI leader, Hungary has to attract the best AI minds in the world. The problem is there's not a lot of them. So now there's a fight for this critical talent, and in the middle of it are all of you as young people, as students, as academics, researchers. Your careers, your trajectories may be defined by geopolitics of talent. So this session is going to be broken into 3 parts. First, I'm going to talk about how is geopolitics of talent taking off. Secondly, what's causing it? And third, where will we go from here? What's next? So let's look first at how is it occurring, what's happening. Let's look at the United Kingdom. The UK is deeply concerned about the rise of China. They're very worried that their place and position in this world is being eroded by China. So the UK has done something very unexpected. The UK has proposed that certain foreign students cannot study certain subjects. Specifically, the UK doesn't want Chinese students to study technology subjects like cybersecurity or aerospace. Think about that for a second. Imagine if you can't study in a foreign country Because another nation is worried about you. The UK is concerned that Chinese students might steal intellectual property, or that Chinese students will get educated in the West, in the UK, go back to China, and then outcompete the UK by building these companies that we've all heard of. This is important for another reason. The very ethos of the West in modern times has been about quality, inclusion, accessibility. And this is now very different. This is limiting people of certain ethnicities from studying particular topics. Look at India. In 2014, India elected Narendra Modi as Prime Minister. Some of you may know this. And Modi, for the past several years, has been clamping down on technology. India is deeply concerned that foreign companies, foreign technology companies, are going to take control of India's society. They're going to dominate India, and that India's sovereignty is at risk. So India is very concerned about technology colonization, doesn't want to fall into the past again. So what has Modi done? Modi has taken action on several fronts. One of them is data. Modi has said that any company who collects data in India must store that data within India itself. So any data that Facebook is collecting in India has to be stored in India. It can't be put in servers in Japan or Ireland or the US. Now, the country affected most by this is the United States. And the US has reacted in a very radical way. The US has said, if you're not going to allow our companies to store data where they want, we're not going to give Indian technology talent visas. So now India's data laws are now defining where Indian high-skilled professionals can go. Just imagine if Hungary's data laws define what visas you can get to work in another country. The EU, the EU is looking at this fight between the US and China and then saying, what does it mean for us? The EU's place and position and power in the world are being eroded, and so the EU wants to ensure that it remains powerful, that its place in the world isn't hijacked, isn't lost in many ways. So the EU has launched ELLIS. These are AI labs across the EU. They're in 17 cities. More than $200 million has been invested in this, and these labs are focused on one thing: keep AI talent in Europe. Don't let AI talent go to the US or China. So the Europeans do not want to help the US, they do not want to help China. They're— and to do that, to help themselves, they're clamping down on talent. So now many of you, depending on what you're studying, depending on what jobs you decide to do, you may be encouraged to stay in a particular geography, whether it's Hungary or Europe or a different part of the world, Because governments don't want you to leave. They don't want you to go move somewhere else and end up helping somebody else succeed. Saudi Arabia. Saudi Arabia has led the Middle East for decades. It's been the de facto leader of the Middle East. And why? Because oil was king. Oil was the world's most valuable resource for decades. And Saudi Arabia's Right hand in the Middle East has been the UAE. The UAE has done whatever Saudi Arabia wanted. Whenever Saudi Arabia wanted to take action on oil output or foreign policy, the UAE was there. Oil meant that these two countries were getting along; they were collaborating, they were cooperating. But guess what? Oil is now losing. Has lost its value in many ways. It's losing its value. And now Saudi Arabia is putting technology at the center of its economy. It's redesigning its economy around technology. And a few months ago, Saudi Arabia announced a project called Program HQ. And you know what the objective of this project is? It's to take the best talent and companies From Dubai to Riyadh. So now this relationship between Saudi Arabia and the UAE is starting to fracture. Saudi Arabia, because technology is now driving its economy, Saudi Arabia is saying, "We want what you have." They're they're poaching from one another. So now your allies, Hungary's allies today, may end up becoming competitors tomorrow as. Technology starts to drive economies, and you may be directly encouraged to come, come to this city or come to this country because other nations want you. Other nations want your minds, your skills. Taiwan. I don't know how many people here are in human resources or staffing or recruitment or want to be in the future, but just imagine for a Think about that for a second. If the job that you post, that you're recruiting for, lands you in jail, think about that, because that's what's happening in Taiwan. Taiwan is deeply worried about China. Arguably, it's the most concerned country because it's located right next to China. And every day we hear about these incursions in Taiwanese airspace. But Taiwan is worried for another reason. China wants to become a technology superpower, but to do that, China needs chips, semiconductors, the things that are powering our phones, our cars, our microwaves. And the world's hub of semiconductors is Taiwan. Taiwan produces 90% of the world's chips, and so China has been actively trying to poach and drain Taiwan of these semiconductor experts, these engineers, these computer scientists, these experts, these experts in their field. So Taiwan has now passed a radical law. No company in Taiwan, no recruitment company, no headhunters, no staffing agency can post a job in China. In other words, if you are a 25-year-old looking for a job in the technology sector in Taiwan, you will not see jobs in China because Taiwan doesn't want you to leave. It doesn't want you to leave Taiwan and end up going to China and helping China rise. Just imagine that you're searching for a job tomorrow, but you can't see jobs located in certain countries because of geopolitics. How will that affect you if you're looking to work in another country? Samsung in South Korea, where the pandemic has launched this global drive to unplug from China, to diversify supply chains, to unplug the economies from China. But South Korea has been doing this for For years. In 2016, South Korea gave Samsung a multi-million dollar contract to build robots that can replace Chinese labor. So South Korea— this is another angle of geopolitics of talent. It's not just about you as human beings, it's also about technology. Companies and countries are turning to now robots to redesign their economies and not depend on foreign talent, on foreign workforces. So tomorrow, the companies, the foreign companies in Hungary might not want to hire you anymore. They might instead say, well, we can just use robots located in our home country. So that means you lose out. It's very fascinating that South Korea wants to change how it's integrated with China, and to do that, it's focusing on talent and technology. Look at China. China is China, China, China. It's all the buzz today. Everyone— it's all anyone talks about is China and the rise of China and the growth of the Chinese power and clout in the world. But something that is seldom mentioned is that for decades Hundreds of thousands, if not millions, of Chinese students have gone to the West, specifically the United States, to study at Harvard, MIT, Stanford. And for many years, Americans have asked a very important question: why are we training Chinese students who then go back to China and compete with us? And they're saying the same thing about Indian students. It's a very important question and it has to be asked. Why? And so now the US has started taking action against Chinese students, specifically STEM students— science, technology, engineering, math. They don't want to train these students. So now China has realized that it cannot depend on Western universities to train its next generation of talent. It has to develop a local Ivy League education system. Equal to what exists in the US. So China has created a consortium of about 12 schools and 12 universities, and they're establishing schools of the future. These are schools that will train the next generation of Chinese students in AI and quantum computing and virtual reality. This is the next generation of Chinese talent will be developed and sourced locally, not abroad. And the US, the US and Canada, much like Saudi Arabia and the UAE, have shared a very long and very allied relationship. In many ways, Canada has really no choice. 90% of Canada's exports go to the US, and Canada's entire economy is smaller than the GDP of Texas. So Canada doesn't really have much of a choice. But something quite fascinating is happening now because the U.S. immigration system as it currently stands is so difficult, especially for foreign workers, skilled workers. Two things are happening. Number one, workers in the U.S., foreign workers in the U.S. working in Silicon Valley or New York City who cannot get their visas renewed are going to Canada. And other foreign workers who haven't yet arrived in the US are saying, why are we going to the US? Let's go to Canada instead. The immigration system is much easier in Canada. And so this has created such fear in the US that the chair of the US Citizenship and Immigration Committee— the chair, one of the top US politicians has said that US is facing a brain drain in Canada. So this could become a new flashpoint between countries, between the US and Canada in the future, as talent leaves the US and goes to Canada, and the US says we're losing out. And the US, US has many options at its fingertips, but it hasn't really used much. The US has been in a very reactive mode for For example, what I said about India's data laws, they reacted saying we're not going to give your talent visas. But now the US is starting to build a little momentum. And one of the things the US Congress has proposed is that if you are an academic or a researcher or a scientist in America and you want to work on a government-funded project, you cannot take money from China. So if you are an AI researcher in Silicon Valley and you want to work with the Department of Defense, the Pentagon, you can't also take money from China. And this is important for another reason. It means that the US is forcing its people to pick sides. It's no longer the way things were. It's no longer, well, you can work on government projects and you can take money from China. It's pick one country, pick one superpower, pick one camp. And so many of you may be involved in academia, maybe many of you may end up going into the research field, but just imagine if you have to pick sides, pick a nation, pick a culture in order to get funding, in order to work. What will you do? Will you pick a side or will you try and stay neutral? And we also have to think about companies, because as technology drives geopolitics, technology companies have become as powerful as governments. Technology companies are able to influence and drive and dominate the world as much as sovereign governments can. So what companies do, what technology companies do, talent matters as much as what countries are doing. A few years ago, Tencent, which is one of the largest technology companies in China, came out with a statistic that there's only 300,000 AI experts in the entire world. 300,000. And now Baidu, which is referred to as the Google of China, has said we're going to train 5 million AI experts and AI workers in the next 5 years. That's 1 million a year. So how will Biden use this AI workforce? Already, the Chinese Belt and Road Initiative— some of you may be familiar with this— in Africa, China is building highways and bridges and electrical grids. But the very fascinating part is that when China goes to an African country, when China goes to Angola and builds a They're not hiring local Africans. They're bringing their own labor force with them. China is bringing Chinese workers to build highways in another country. This angered a lot of African governments. So what if the same thing happens now with technology? What if tomorrow a Chinese company is building a self-driving highway in Hungary, but they don't hire you? The Chinese company brings its own people. To do and build the highway. So you lose out because countries and companies because companies have become so powerful they can do whatever they want. So we've looked at how is geopolitics of talent emerging. We saw what India is doing with data and how the U.S. is responding. We looked at what Taiwan is doing. Now let's look at why are countries doing. This? Why are nations taking these radical steps, making these radical decisions? The first is the world is facing a major demographic crisis. One example is Germany. Germany has had an open immigration system for years because its population is shrinking rapidly. It's aging rapidly. Now, last year, during the pandemic at its height, Germany recorded for the first time that its population had shrunk. So think about that. Without immigration, in just 12 months, Germany's society is already shrinking. Look at Japan. Japan— the average age of a farmer in Japan is 67 years old. 67 is the average age of a farmer farmer in Japan. So countries now need people. They want to attract new blood, young people like many of you. And but except they don't just want anyone, they want the brightest minds, the most educated minds, and there's not enough of them. So countries are now fighting over many people, many of you, because their populations are aging. In Canada, I live in Toronto, there are more people aged over 65 There are more people aged over 65 than under 12 in Canada. So that's a demographic crisis that Canada is facing. The second is that the old economic drivers are losing steam. Manufacturing in the United States— economies are no longer giving power to the economies anymore. They're no longer fueling economies. And so now governments are racing to redesign their economy. Hungary, for example, has come out with an AI strategy last year or the year before because Hungary wants to have a very big AI sector. So as economies rewire themselves around technology, they're now wanting to attract the same people I mentioned. Saudi Arabia, what it has done with Program HQ. Well, in response, the UAE announced the Golden Visa Program, which is 100,000 visas for the most skilled people in the world. So nations are now fighting because their economies are now revolving around technology, not the old variables. There's also geoeconomic fears. What this means is that countries don't trust one another anymore. Governments are paranoid. They're scared of relying on another country. Hungary may not want to rely on other nations, on its neighbors, on the EU. Hungary may want self-reliance. And so these fears are now driving countries to source things locally, including talent. Countries want to develop the people and the skills at home instead of relying on another country in another part of the world, on another government, on geopolitics which may end up hijacking their talent pools. There's also what big tech— big tech companies, technology companies are, as I mentioned, becoming like mini-states, and governments are coming up with very creative ways of bringing these companies under control because countries don't want technology companies to just do whatever they want, not contribute to the local society in the local country. So what Russians have proposed, it's very powerful, is that if you are a foreign technology company, you have to create a local Russian company. So So if you're Twitter, you can't operate in Russia without having a Russian registered company. And what Russia wants to do is say, if you now establish a company in Russia, you have to hire local Russians. So this fight over talent is now also being driven by governments taking on big tech by forcing them to localize, forcing them to Create a local operations and hire local people. Might this might be something Hungary decides to do in the future? If you're a foreign technology company and you want access to the Hungarian market, you have to hire five thousand Hungarian people. Who knows? And lastly is the vertical world. What I what I mean by this is that for the past seven. For 70 years, the world has been integrated along a common set of axes and systems. So if Hungary had a diplomatic issue, it went to the UN. If Hungary had a trade issue, it went to the World Trade Organization. If Hungary had a health issue, it went to the WHO. If Hungary wanted to connect its financial system with the whole world, it joined SWIFT, which is a global financial network. What is SWIFT? So the world has been woven together over decades, largely led by the US and the West, and it's become— countries have become more accessible, countries have become more open, countries have become more uniform in what they do. Now what I believe is that many countries were not happy with this. They feel that they've lost their sovereignty, they've lost their power to control their societies, and now with technology, they're able to reclaim their sovereignty. And so countries are now building these technology-based walls and barriers between themselves and the rest of the world. So the world is becoming vertical, and this could affect all of you. The example about the UK not allowing Chinese students to study cybersecurity, that's a wall. Tomorrow, something similar might emerge for Hungarian students or Hungarian professionals. Imagine if you decide that you'd like to do your master's in South Korea, and the South Korean government says, well, we don't trust Hungarian students, we think they're going to steal our IP. And all of a sudden, you're cut off. You can't study in another country. Think about how that will affect your life, your future, your decisions. So the vertical world is the new design of the world going forward. It will affect all of us in the most intimate ways. So we've talked about how is geopolitics of talent occurring, talked about data affecting visas handed out to Indian people, we talked about Taiwan, and then we looked at— so what's the catalyst? What are the triggers? What are the drivers? We saw that populations and societies are aging. We saw that there's geoeconomic fears. So now let's look at the last part, which is probably the most important part, which is where will things go next? What should you all be paying attention to? Where should your minds be? The first is that we're going to see automation take off like never before. More and more jobs are going to become automated because there's not enough of you. There's not enough people, there's not enough bright minds. So countries need to figure out a way to balance that out. If they can't access you, they might turn to robots. One example of this is in the US. There's 3.1 million truck drivers in America. 3.1 million. Trucking is the last job in America that pays $60,000 without a college education, without university education. Except there's a massive trucker shortage in the States. So what are companies doing? Companies like UPS and FedEx are rapidly developing self-driving trucks. So what's gonna happen if 3.1 million truck drivers over the next decade lose their jobs to self-driving trucks? Look at Ethiopia. The The World Bank has projected that 85% of jobs in Ethiopia are at risk of being automated. 85% of all jobs in Ethiopia could be automated. What are these people going to do? What happens if 30% of jobs in Hungary are automated? Will this result in people rioting? Will this result in radical political parties emerging? We saw in 2016 in the US, Donald Trump campaigned on bringing back jobs from America— from China. We're going to bring back jobs to the United States. Well, what if the next— in the future, the next political candidate is campaigning on we're going to bring back jobs, take back jobs from robots, we're going to take back jobs from technology? And how will you feel if you are looking to get a job in a certain field. But that role is now automated. When I was in high school many years ago, the big fear of that time was outsourcing. How am I, as a Canadian high school graduate, going to compete with people from India and China who are far more hungrier for, for their careers than I am and who are far cheaper than I am? For many of you, the risk is not outsourcing. For many of you, the risk is how do you compete with an algorithm? How do you compete with a robot who can work 24 hours a day, who doesn't require insurance, doesn't require a salary? What do you bring to the table that a robot doesn't? That's going to become the big challenge for you. And as I said, automation is going to lead to geopolitics, social unrest, new political parties, blame game, Countries are going to blame each other. Why are you deploying robots in my country? This is a new vector of geopolitics. Many, as I mentioned, we're going to see— this is kind of part of the vertical world— we're going to see more and more localization, more and more self-reliance. Countries and governments do not want to depend on another nation, on another economy, On another educational system for their people. One example is in South Korea, there's a city that's investing five million dollars to develop blockchain talent, talent for blockchain. Blockchain, if you don't know what it is, it's the technology behind Bitcoin. You're more familiar with with Bitcoin. South Korea is investing five million dollars to develop blockchain talent. locally. So now the future of talent flows is not going to be you going to Oxford or you going to Harvard. The Hungarian government may push for you to train yourselves and for you to get educated in Hungary itself. So that's localization. It's the vertical world, another dimension of the vertical world. Exclusive corridors. So during the pandemic, many of us heard the expression travel bubbles. Australia and New Zealand have a travel bubble that allows people to travel without having to quarantine. China is negotiating a travel bubble with Singapore. Now the next bubbles, the next exclusive corridors between countries, may be over talent. One example is Quad. Quad is An organization, and it's an organization with the U.S., India, Japan, and Australia. Right now, it's focused on military; it's focused on containing China. But Quad could soon expand into talent. Quad could say, "If you're from a member country, if you're from U.S., India, Japan, or Australia, you can move around our countries freely. You don't have to worry about visas or immigration." So many of you. As you're thinking about what you want to do with the rest of your lives, you may benefit from these exclusive corridors that Hungary builds with other countries. You may benefit from the geopolitics that Hungary plays, but at the same time, you may lose out if Hungary is not part of other corridors. What if immigrating to another country is highly difficult for you because that country doesn't want to partner with Hungary. So that's another dimension that you have to think about. We have to also look at these brain drain bans. And what I mean by that is right now we are seeing many countries take steps to control who can enter the country. They don't— many countries no longer just want anybody to enter. They only want people that align with the local culture that believe the local ethics and society. That's one kind of immigration control. But now the next set of immigration control is maybe on— you can't leave the country. Just imagine for a second if you go and you decide to study as a biotechnology expert, or you decide to go into cybersecurity, or you decide to go into the future of accounting, or you decide to become a lawyer focused on new technologies, and you say to yourself, I will work in Budapest for a few years and then I'll move to another country. Except the Hungarian government will not let you leave because you're too valuable, you're too important to the Hungarian economy. So we've seen countries limit and restrict who can enter. Now we may see countries limit and restrict who can leave. Just imagine if you can't leave the country because of your profession, you're too important to the economy. How will that affect you? We're also seeing many governments start to take a very elitist tone towards technology talent. We're seeing an era end where governments were open. If you met certain criteria, please come in. Now governments are saying we don't want just anybody, we want the best of the best, especially when it comes to technology talent. So one example is Singapore. Singapore has announced that it will only give technology visas to people earning more than $15,000 a month. So if you don't earn more than 15 grand a month and you're in the technology sector You can't move to Singapore. So if you earn five grand a month or ten grand a month, Singapore doesn't want you. New Zealand. New Zealand has said that it no longer wants unskilled people. Think about that. New Zealand is part of the West. New Zealand has kind of followed a certain model where it's merit-based. If you meet certain points, you can immigrate. But New Zealand has said we're. tired of that model. New Zealand has now said we want only the 1% to immigrate into New Zealand. We only want the wealthiest, most educated people to come to New Zealand. So now where you can move— again, talent flows— where you decide to move to, where you can move to if you decide to leave Hungary and go somewhere else, may be more and more difficult because countries are establishing Higher and higher standards of who they want in and who they don't want in. We need to think about the unexpected consequences of geopolitics of talent. So in June 2020, more than a year ago, the Indian and Chinese soldiers, Indian and Chinese soldiers fought in the Himalayas. It was the worst border skirmish in 40 years. Both sides moved Hundreds of thousands of troops to the border, fighter jets, missiles. It looked like there was going to be war. But then India took pretty unexpected action. India went and attacked the Chinese technology sector. It banned TikTok and WeChat. It went and said, Huawei, we don't want you building our telecommunications networks. And it started to restrict visas to Chinese professionals. So Chinese professionals could not necessarily work in India anymore. And in all of this, something unexpected happened. Taiwan was brought into the picture. How? Because Taiwan was using Chinese professionals to build its— Taiwanese companies were using Chinese professionals to build their organization in India. So Taiwan was depending on Chinese professionals to build their footprint in India, except these professionals could no longer enter the country. So Taiwan— Taiwanese companies were now paralyzed. What do they do? The people that they've hired cannot move anywhere. So this is another dimension to think about. You may be working for a country or for a company, and where you can work, how you can work, may be defined by a fight that you're not even part of. It's a new and very strange dimension to think about. Talent is also going to be stockpiled. And we saw what happened last year with the pandemic when people stockpiled the most insane things, too much of everything. And why? Because it's in the human psyche that if there's a shortage of something, we hoard. It's in our wiring as human people. We just hoard and stockpile. And the same logic is now going to emerge for talent. Since there is a shortage of technology talent, companies and countries are now going to hoard talent. Alibaba, which is the e-commerce giant of China, had said that it wants to stockpile talent for the next 15 to 20 years. So what does that mean for you? That means that tomorrow you might go and apply to a company, and that company might might say, sign a 15-year contract with us. Will you do that? Will you work at a company on, on paper, sign that you're gonna work at that company for 15 or 20 years because that company wants to stockpile talent? So again, something to think about. Countries versus companies. We're going to see more and more fights emerge between countries who are deeply concerned about large technology companies and companies who seem to almost get away with whatever they want. And this fight is going to exacerbate. We're going to see technology companies take the most radical stances, and we're going to see governments behave in radical stances. As I mentioned, what if IBM or Volkswagen or Barclays Bank is forced to hire 5,000 or 10,000 Hungarians if they want to operate in Hungary. So now the jobs that you have access to, the jobs in Hungary, may be directly connected by the new laws that Hungary passes around how companies can operate. What can companies do? What, what rules do companies have to comply with? And we're also going to see technology companies take a very radical stance. Technology companies may decide to say, that's fine with us, we will not operate in Hungary. Again, now you lose out because technology companies will have a different strategy. There's a lot of talk right now of human rights. Governments and countries are constantly talking about We have, we have certain ethics. We have certain human rights that we believe in. We saw what's happening in Xinjiang in China, that companies like H&M and Nike are no longer using cotton in Xinjiang because of the labor violations. Human rights. Now, the argument could be made that human rights is a very rainbow-like term developed by the West. Every country has its own ethics, its own ideas, its own rules, its own beliefs. So what's human rights for one country may not be human rights for another country. But we have to think about something else. We have to now think about talent rights. I'll give you one example of what I mean. Right now in Finland, AI is being developed not by companies, not by institutions. You won't imagine who is developing AI in Finland. It's prisoners. Inmates in jails are the ones developing AI. Think about that. The labor force for Finnish AI is inmates. So now if you're a company, you may say, or a country, Hungary may say, we don't want to buy AI from Finland because it's a breach of our human rights. It's developed by prison laborers. So now we need to start thinking about the next human rights around talent, or what I call talent rights. There's also going to emerge deep paranoia. Right now in India, companies like Microsoft, Google, Facebook, they are training tens of thousands of people in India for free. They're training them in AI, they're training them in cybersecurity, They're training them in all kinds of different fields, and the Indian government is very happy. Its people are getting a free education. Except tomorrow, the Indian government may start to get paranoid. What what ethics are these technology companies teaching Indians? What culture are they teaching? How are how is the Indian psyche changing because of these technology companies? And so governments may start to. Expel these companies. We don't trust them, which means many of you may lose out if this happens in Hungary. Meaning Hungarian government may become deeply concerned as to what kind of skills are you being taught, what kind of ethics are you being taught, and it might fire or expel or ban certain organizations because of concerns and paranoia— technology organizations. But there's also the other side of the coin. Which is that countries are deepening their integration. They're not worried. One example is China and Saudi Arabia. China has been buying huge amounts of oil from Saudi Arabia for decades, and now on the back of that, Chinese technology companies are benefiting. Huawei has just signed a deal to train 20,000 Saudi citizens in technology. So on one hand, some countries are becoming paranoid, But on another hand, some countries are deepening their integration with companies and other countries. And lastly, I want to talk about education. Right now in the US, there's something called a blacklist, and this is a list of companies that the US has banned investment in. So some of you may have drones at home, and some of you may have drones from a company called DJI. DJI, which is a Chinese drone company. America has added DJI to that blacklist, meaning US people, US companies can no longer invest in DJI. Similarly, the next blacklist may be about universities. What if your university that you went to or are in or are planning to go to is now blacklisted, meaning companies will not hire people from that university? University. They don't trust you because you went to that university. What's your game plan if that happens to you? This is a serious risk and a serious possibility because governments and companies may not align with certain universities. And the other side to also think about is that companies may not hire from one another. All of us have grown up in a world, and there's many young people here, you may have seen your parents from one company to another company to another company. They went from IBM to GE to Toyota. Now, however, if you go and get a job, say, at ByteDance, which owns TikTok, you might not be hired in the US ever again. Similarly, if you go and get a job at Apple, you might be considered a national security risk in another country. So now the jobs that you choose, the universities that you go to, They directly impact where you can work, where you can go, where you can move to because of geopolitics. I just want to conclude by talking about something that's very important, which is that we've all operated in a world where geopolitics was always kind of 60,000 feet in the air. It was always far away, and in short of terrorism or war, we didn't really have to care about geopolitics. And who cares if EU and Turkey aren't getting along? No big deal. We could have lived our whole lives just living it and not caring about geopolitics. But now, as technology drives geopolitics, everything changes. Geopolitics is becoming far more personal. All of us are feeling it. Look at India. India banned TikTok, and you have people, 24-year-olds, 19-year-olds, 18-year-olds in India who were depending on TikTok for their livelihood. They were getting money through posting these videos on TikTok, and all of a sudden, because of geopolitics, TikTok is banned. They've lost their income, they've lost their job. These young people may never have cared about geopolitics, but now because of the border skirmish, they're watching TV every single day. So we need to think about the geopolitics of individuals. We need to become more aware of how geopolitics of technology may affect us. All of us carry smartphones, all of us have a laptop, all of us are connected to the internet, and that means all of us are now vulnerable to geopolitics around the world. So thank you very much, and I just want to congratulate MCC for holding such an amazing festival. Thank you and have a great remainder of your day. Thank you. Thank you, Mario.