Hommels demands to focus on two topics:
1. We need to work on the right topics
2. Regulations need to be the backbone
When talking about regulations he adds: „I think the biggest risk that we have at the moment is, that we do it the wrong way.“
As an example for such a wrong regulation Hommels names the PSD2 directive.
"The big companies have the power to do the transformations but the smaller companies just don’t have that leverage."
Klaus Hommels from the partner Lakestar traditionally opens the conference with his opening keynote:
„I think the game has been beefed up, it’s not only about ecosystems but also values. Historically we have a history fighting for our freedom. But because this freedom is not visible anymore we become compliant.“
Hommels shares his deep concerns about the young generation spending on avg. more than 3hours per day on social networks and apps.
By the age these teens will become adults they would have spent more than 7 years of working life on snapchat, instagram or facebook – being educated by algorithms who rather focus on how someone looks than real (work) life experiences.
But also we adults are in danger to loose our freedom: „In five to ten years we might just ask Google for buying decisions – e.g. for buying a car.“
Googles data storages know more about our behavior than we do. The algorithms may overtake our buying decisions.