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Data privacy must be seen as a human right: Nadella

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Published : Jan 23, 2020, 5:19 PM IST

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Updated : Jan 23, 2020, 7:26 PM IST

Asked what was his recipe for doing good and at the same time doing well as the most valuable company in the world, Nadella said, "It comes down to having that core business design: when you do well, the world around you does well."

Satya Nadella

Satya Nadella

Davos: Microsoft CEO Satya Nadella on Thursday said data privacy must be seen as a human right that needs to be protected and have full transparency.

Speaking here at the World Economic Forum (WEF) Annual Summit 2020, Nadella said it also needs to be ensured that the huge data being used with consent is for the good of the society.

During a conversation with WEF Founder and Executive Chairman Klaus Schwab, Nadella also favored a debate on CEO pay and all kinds of remuneration, including return on capital.

Microsoft CEO Satya Nadella speaking with Klaus Schwab at the World Economic Forum Annual Summit 2020

Asked what was his recipe for doing good and at the same time doing well as the most valuable company in the world, Nadella said, "It comes down to having that core business design: when you do well, the world around you does well."

"People and institutions are all part of our society, so if you don't think about the broader systems, it's not stable," he added. "The question ultimately goes back to what is the market saying and what is society saying?"

Referring to the book 'The Narrow Corridor', he said you have to find what works, so no one loses out. It is in the long-term interest of the shareholders that we do the right thing by the stakeholders, he emphasised.

"CEOs in today's world have more to do to communicate that stakeholder capitalism is for the shareholders' long-term benefit," Nadella said.

He said there are four interconnected components needed for the world to collectively achieve more this decade -- power broad economic growth through tech intensity; ensure that this economic growth is inclusive; build trust in technology and its use; and commit to a sustainable future.

Satya Nadella Speaking with Klaus Schwab

Satya Nadella speaking with Klaus Schwab

Asked about a possible bifurcation of economy and tech between China and the US, Nadella said, "Every country cares about their national security, I would urge us to think about what should happen."

"If we should 'consciously decouple', all we will do is increase the overall transactional costs of our economy.

"The last 30-year period has been an amazing period of market access, but we need to grow up because the world is more complicated," he said while recalling the time when he himself immigrated to the US and then joined the software industry.

He said the world will need more norms around trust in technology.

"I think China cares as deeply about AI ethics as the US," he said.

On privacy, he said data dignity is crucial and the next level of work is not just privacy, but one should be able to control how one's data is used in the world.

"What if the consumer benefited from their data as well as advertisers? More work needs to be done around data dignity - and new business models in the 2020s," he said.
Nadella also said we need to understand why artificial intelligence (AI) marks a departure from the previous software.

"We have an ability for the first time for the software to be written by data," he said but added that we should not be too fast in abdicating our responsibility.

"We advocate a set of principles around accountability and it needs to be turned into software engineering practice.

"The best way to ensure there's no bias in AI is to have the team creating the AI representing the diversity we want it to have," Nadella said. Regulation should be more at the run-time than the design-time, he added.

Read more: Indian economy poised to take off, says Goyal

Davos: Microsoft CEO Satya Nadella on Thursday said data privacy must be seen as a human right that needs to be protected and have full transparency.

Speaking here at the World Economic Forum (WEF) Annual Summit 2020, Nadella said it also needs to be ensured that the huge data being used with consent is for the good of the society.

During a conversation with WEF Founder and Executive Chairman Klaus Schwab, Nadella also favored a debate on CEO pay and all kinds of remuneration, including return on capital.

Microsoft CEO Satya Nadella speaking with Klaus Schwab at the World Economic Forum Annual Summit 2020

Asked what was his recipe for doing good and at the same time doing well as the most valuable company in the world, Nadella said, "It comes down to having that core business design: when you do well, the world around you does well."

"People and institutions are all part of our society, so if you don't think about the broader systems, it's not stable," he added. "The question ultimately goes back to what is the market saying and what is society saying?"

Referring to the book 'The Narrow Corridor', he said you have to find what works, so no one loses out. It is in the long-term interest of the shareholders that we do the right thing by the stakeholders, he emphasised.

"CEOs in today's world have more to do to communicate that stakeholder capitalism is for the shareholders' long-term benefit," Nadella said.

He said there are four interconnected components needed for the world to collectively achieve more this decade -- power broad economic growth through tech intensity; ensure that this economic growth is inclusive; build trust in technology and its use; and commit to a sustainable future.

Satya Nadella Speaking with Klaus Schwab

Satya Nadella speaking with Klaus Schwab

Asked about a possible bifurcation of economy and tech between China and the US, Nadella said, "Every country cares about their national security, I would urge us to think about what should happen."

"If we should 'consciously decouple', all we will do is increase the overall transactional costs of our economy.

"The last 30-year period has been an amazing period of market access, but we need to grow up because the world is more complicated," he said while recalling the time when he himself immigrated to the US and then joined the software industry.

He said the world will need more norms around trust in technology.

"I think China cares as deeply about AI ethics as the US," he said.

On privacy, he said data dignity is crucial and the next level of work is not just privacy, but one should be able to control how one's data is used in the world.

"What if the consumer benefited from their data as well as advertisers? More work needs to be done around data dignity - and new business models in the 2020s," he said.
Nadella also said we need to understand why artificial intelligence (AI) marks a departure from the previous software.

"We have an ability for the first time for the software to be written by data," he said but added that we should not be too fast in abdicating our responsibility.

"We advocate a set of principles around accountability and it needs to be turned into software engineering practice.

"The best way to ensure there's no bias in AI is to have the team creating the AI representing the diversity we want it to have," Nadella said. Regulation should be more at the run-time than the design-time, he added.

Read more: Indian economy poised to take off, says Goyal

Intro:Body:

New Delhi, Jan 23 (IANS) The government's plan to sell national carrier Air India may face political and legal headwinds with senior BJP leader Subramanian Swamy raising the red flag against the decision.

Days before the launch of bidding process by inviting Expressions of Interest (EoI) from potential suitors, Swamy has warned against such move, saying the issue was currently being discussed by a Parliamentary panel.

"Right now, it (Air India disinvestment) is before the consultative committee and I am a member of that. I have been asked to give a note which will be discussed in the next meeting. They can't go ahead without that," Swamy told IANS.

"If they do, I will go to court. They know that too," he cautioned.

A vocal opponent of Air India privatisation, Swamy had earlier suggested to list 49 per cent of Air India shares on stock exchanges while government holds 51 per cent in the carrier as an alternative to selling its entire stake to private companies.

It has been reliably learnt that the Rajya Sabha member had expressed reservations over privatisation of Air India the meeting of a Parliamentary consultative committee earlier this month.

After its failed first attempt, the Modi government has shown great zeal this time to sell Air India. It is set to offer a sweetened deal to potential buyers this time around by removing a large chunk of the debt and liabilities from the airline books.

Aviation Minister Hardeep Singh Puri had earlier said that Air India will be shut down, in case the disinvestment exercise is not successful.

Sources told IANS that the preliminary information memorandum (PIM) inviting EoI has been tentatively scheduled to be unveiled on January 27.

Air India is proposed to be sold along with its subsidiary Air India Express and ground-handling joint venture company Air India Singapore Airport Terminal Services Ltd (AISATS) in which it has 50 per cent stake.

Air India on January 10 came out with tender for engaging aircraft asset management companies for carrying out technical audit of its entire fleet.

A Ministerial panel on Air India chaired by Home Minister Amit Shah on January 7 approved the draft EoI and a share purchase agreement (SPA) for the airline's disinvestment.

Conclusion:

Last Updated : Jan 23, 2020, 7:26 PM IST

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Swamy warns against Air India sale

wants House panel to vet his note

Microsoft CEO Satya Nadella

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