Nick Read, CEO of Vodafone, says that if we are “to be successful in the digital transformation – we all need to go faster, challenge the status quo – and “lean in” on co-creation.”
And that the “regions that have 5G first, will be the regions that innovate fastest.”
In a speech, he said, ““Yet, at current rates, it will take until at least the end of the decade, for Europe to match the transformational “full 5G experience”, that China will already have achieved this year. If we look at 5G population coverage around the world – South Korea is over 90%, China 60%, USA 45%, and Europe under 10% – and with Africa hardly even at the starting line. Europe will only catch up if we reverse the ill-health and hyper-fragmentation of our sector. We must have local scale to close the investment gap. Otherwise, we will be the passive by-stander of the new tech order.”
He said, “The most pressing issue is clearly the war in Ukraine. This adds to a world facing political, economic, social, and environmental turmoil – all at the same time. We are all, going to have to dig very deep, to help overcome these challenges. As an industry, it is our obligation to do our part, – and through our technologies – we also have a lot to offer. These last two years have clearly shown that the services we provide are critical – nationally and regionally.”
“Looking ahead – 5G in particular – is the catalyst for innovation, that will transform every industrial sector, and underpin the next phase of a digital society. Every country and region will try to maximise their chance to capture this opportunity for jobs and growth. Africa needs digital to accelerate development and diversify its economies. Europe needs to be digital to remain globally competitive and maintain its leadership role in key sectors such as automotive, aerospace, defence, and agriculture. The regions that have 5G first, will be the regions that innovate fastest.”
“Yet, at current rates, it will take until at least the end of the decade, for Europe to match the transformational “full 5G experience”, that China will already have achieved this year. If we look at 5G population coverage around the world – South Korea is over 90%, China 60%, USA 45%, and Europe under 10% – and with Africa hardly even at the starting line. Europe will only catch up if we reverse the ill-health and hyper-fragmentation of our sector. We must have local scale to close the investment gap. Otherwise, we will be the passive by-stander of the new tech order.”
The CEO added,”We have all seen the impact of global digital platforms. Platforms that change the way we conduct our daily lives. Vodafone continues to invest in regional platforms – let me just give you a few examples. In Europe we created our IoT platform which connects more than 140m devices, across 180 countries. The SIM based IoT market has tripled in the last five years, – and in the next 5 years, will hit 5bn connections. 62% of Europe’s leading automotive brands rely on Vodafone IOT. And with that scale, we are able to evolve from the “Internet of Things” to the “Economy of Things”.
“From seamless connectivity, to seamless transactions between machines. We have just launched our Digital Asset Broker platform, – with the first user case being electric vehicle charging. Using our platform to link an authorised vehicle, with a pre-authorised digital wallet, to transact with the local charging infrastructure. Our vision is to enable all machines to transact with each other – securely through our platform, using the customers digital wallet – without the need for human intervention.”
“The transformation that IoT brings is not just industrial – it is also green. I encourage you to visit our stand in Hall 3, where you can see a range of green IoT solutions – from Smart Buildings, to Smart Agriculture, to Connected Forests.”
He ended, “Vodafone is committed to the long-term success of Europe and Africa. We will play our part to demonstrate leadership in our sector – as genuine partners. To our competitors, strategic partners, governments, and regulators – we ask you to lean in – together we can enable a digital Europe and Africa, that is truly competitive for the future.”
