In the context of the booming global technology, “technology, innovation and inclusive growth” has become an important topic of this year's IMF annual meeting. IMF President Lagarde personally hosted the Technology Innovation Conference and held a dialogue with John Chambers, Cisco's global CEO, one of the largest technology companies in the United States. The conversation was led by Lagarde’s own experience.

"I have a son. He lives in Paris. He has a puppy, but he never licks it. It has always been his girlfriend. But since last month, I called my son, every time he I was surprised when I walked the dog. Later I learned that he was playing Pokemon Go.” Lagarde used this opening to easily explain how “mobile phones change people’s lives”.

Lagarde said: "In developed countries, 80% of people have smartphones, but there are still many underdeveloped regions in the world without broadband. This requires the strengthening of network infrastructure." She said that Internet of Things, intelligence and big data have been It has a profound impact on the economy and can increase income and demand. "In the face of the challenges of technology, global finance ministers must act to cope with the impact of technology on finance in the next 2-5 years." Lagarde said, "The application of cutting-edge technology in finance, government, etc., and equality. The impact is particularly significant in low-income countries."

65% of the work in the future does not exist today

When talking about the importance of technology to the economy, Lagarde said: "We advocate technology-driven economic growth, the background is that the current global economic growth is weak, and facing many uncertainties, the economy is very fragile. This year's global economy Growth may be less than 3%, and it will not increase next year. This growth is too slow and can't benefit everyone. So we think technology is an important driver of future economic development. Not only for innovation, but also for improvement. Productivity, attracting investment."

Lagarde also said that for industrial companies, when it comes to technology, people naturally think of robots and automation. Lagarde said: "The history of the past few hundred years has proved that technology is good for promoting investment and improving efficiency, thus accelerating economic growth. But most of the current concern is that robots may steal some of the original human work. This is in fact the problem we have been discussing for the past few hundred years. Breakthrough technology and major technological changes will certainly cause some work to die out, but it is accompanied by new jobs being created. Not just green Changes in the economy, the technology economy, and the digital economy will certainly bring new jobs.” She quoted some companies as saying that 66% of the work will be created in the future, and those jobs need those in the school now. The children will finish in the future, so the biggest challenge now is how to prepare them to meet new jobs in advance.

"After five years, I would be surprised if there are financial institutions that don't use virtual currency," Lagarde said. "A lot of financial institutions including the IMF three years ago dismissed bitcoin, but now, no Anyone can ignore digital currency and blockchain."

She added: "Although virtual currency is not systemic now, it cannot be called a threat of physical currency, and security needs to be improved. But global financial regulators must keep an eye on the movement of virtual currency, because it may also become Legal trading channels. Of course we don't want to see people use it to launder money, finance terrorist activities or engage in other illegal activities."

John Chambers, Cisco's global CEO, told CBN: "In the next decade, technology will have as much as 3% increase in GDP growth for every country in the world. If you look ahead, technology will be for everyone's daily life. Life has a major impact. What we are doing will affect every country in the future.” John Chambers predicts that in the next decade, technology will create $19 trillion in economic growth globally, creating every month. As many as 1 million jobs.

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