The Great Disruption: Will Big Data Disrupt Big Business?
Founder and Managing Partner, IA Ventures
Senior Vice President and General Manager, Huawei Technologies
Moderator: VIJAY VAITHEESWARAN
Global Correspondent, The Economist
The era of big data presents incredible opportunities -- smarter cities, stronger companies, faster medicine -- but just as many challenges. Storage is scarce, systems overloaded, governments and businesses know too much. The world now contains unimaginably vast amounts of digital information, which is growing exponentially. Managed well, this data can be used to engineer new engines of economic value, unlock scientific breakthroughs, and hold politicians accountable. Managed poorly, it can cause great harm.
The financial crisis showed that complex models that analyze large quantities of data do not always reflect financial risk in the real world. The financial crisis was sparked by big data -- and there will be others. But the data deluge will also generate millions of new ideas for how to solve big problems, build new markets, and expand existing ones. Ideas Economy: Information is a fresh look at knowledge management for the information age.
The Economist will bring together theorists, strategists, and innovators who understand how to harness data to create value and advance individual, corporate, and social good. We will sift through the vast quantities of current thinking on data to uncover the best ways forward. And we will apply the lessons of the Ideas Economy, about innovation, human capital, and intelligent infrastructure, to uncover new sources of growth and accelerate human progress across the globe.
Roger Ehrenberg is the founder and Managing Partner of IA Ventures, a seed-stage venture capital firm focused on tools and technologies designed to manage and extract value from Big Data. Mr. Ehrenberg currently sits on the boards of BankSimple, Kinetic Global Markets, Metamarkets, Recorded Future, and The Trade Desk, and is a Board observer of SaveWave. Formerly, he served on the boards of Alphacet, Buddy Media, Global Bay Mobile Technologies, Magnetic, Selerity and Stocktwits. Prior to forming IA Ventures, Mr. Ehrenberg was an active angel investor through IA Capital Partners, a seed-stage investment firm focused on digital media and financial technology. From 2004 to 2009, Ehrenberg seeded 40 companies, including bit.ly, Buddy Media, Clickable, Invite Media (sold to Google), Magnetic, MyTrade (sold to TD Ameritrade), Solve Media, Stocktwits,TheLadders, TweetDeck and Wallstrip (sold to CBS Interactive). Earlier in his career, he served as President and CEO of DB Advisors, LLC, Deutsche Bank's internal hedge fund trading platform where his 130-person team managed $6 billion in capital across multiple strategies with offices in New York, London and Hong Kong. Before DB Advisors, Roger was Global Co-head of Deutsche Bankâ€™s Strategic Equity Transactions Group. In 2000, Roger's team won Institutional Investor magazine's "Derivatives Deal of the Year" award. As an Investment Banker and Managing Director at Citibank, Ehrenberg held a variety of roles in the Global Derivatives, Capital Markets, Mergers & Acquisitions and Capital Structuring groups.
John Roese, senior vice-president of Huawei North American Research Center, oversees the company's overall research and development activities. He assists in establishing the product/device direction for R&D and impacts each unit's business, process and procedures.
Prior to joining Huawei, he was the global chief technology officer for Nortel based in Ottawa Canada, responsible for the leadership of the 12,000 R&D staff of the company. Additionally his responsibilities included leading the advanced research groups, common R&D, R&D strategy, the Nortel Intellectual Property Law group, standards activities, and broad externally facing evangelism and customer interaction on a global level. Prior to Nortel, he was CTO for Networking Technologies at Broadcom, CTO at Enterasys (now part of Siemens Enterprise Networks) and CTO of Cabletron Systems. His career has spanned the broad Information and Communications Technology market with experience in enterprise and carrier markets and technologies ranging from silicon development to higher level IT applications. He have been a member of the boards of numerous companies including Blade Network Technologies, Pingtel, Smartshare systems, and Bering Media and represented his companies in various initiatives within the industry including the board of One Laptop Per Child (OLPC) and board of the Alliance for Telecom Industry Solutions (ATIS).
Vijay V. Vaitheeswaran
Vijay V. Vaitheeswaran is an award-winning journalist, author, and public speaker. The Financial Times recently proclaimed him to be “a writer to whom it is worth paying attention.” A 20-year veteran of The Economist, he is currently the magazine’s China business and finance editor. Kirkus Reviews has called Need, Speed, and Greed, Vaitheeswaran’s new book on global innovation, “the perfect primer for the postindustrial age.” He is a life member at the Council on Foreign Relations and advisor to the World Economic Forum. His commentaries have appeared on NPR and the BBC, and in The Wall Street Journal and The New York Times.
John Roese, SVP and general manager of Huawei, explains the irony of "ecosystems" like Silicon Valley that are often agile enough to support the creation of data innovation, but not always agile enough to implement it.
Weekly magazine of news and opinion, founded in 1843 and published in London, generally regarded as one of the world's preeminent journals of its kind. It gives thorough and wide-ranging coverage of general news and particularly of international political developments that bear on the world's economy. In accord with the views promoted by its founders and conveyed by legendary Economist editor Walter Bagehot, the publication maintains the position that free markets typically provide the best method of running economies and governments. North America accounts for about half of its total readership.