By Mark Martin
This year, I didn’t know what to expect, so I came with a mindset of growth—what new things could I learn from these discussions, and how does it affect the current tech sector? Armed with my notepad and three colored pens to ensure I was prepared and ready to jot down the gold nuggets from each session.
Morning Session: Operationalizing Security
We dived into the zero-trust approach, reshaping data and network security paradigms for enhanced resilience in an era of evolving cyber threats.
- Moderator: Jordan Robertson, Cybersecurity Reporter, Bloomberg
- Panelists:
- Jessica Figueras, Chief Executive, Pionen; Acting Chair of Trustees, UK Cyber Security Council
- Ellison Anne Williams, CEO & Founder, Enveil
Jessica stated that the major issue with cybersecurity is outdated legacy systems and technologies that need updating. But in order to update these systems, you need skilled workers who can implement the new systems correctly and efficiently. She went on to state that we should see cybersecurity as cyber resilience, meaning it’s an ever-evolving landscape, and we need to regulate to ensure systems are safe.
Ellison mentioned the challenge of working with systems across different countries and jurisdictions. It presents a mammoth task for companies to keep their systems safe.
Jordan then moved towards discussing different types of cybercrime—money laundering, cybercriminals, and money mules taking advantage of systems that struggle to operate across different jurisdictions.
My Thoughts: Cybersecurity is a big challenge for the UK, affecting universities, Transport for London, the NHS, and the British Library. Systems are vulnerable and present a huge danger to public life. It was mentioned that cybersecurity is like a house with windows, a front door, a back door, and even the chimney. You can replace the windows with double glazing, but over time they get tired and will need replacing. Similarly, with cybersecurity, you have to keep on maintaining the property.
Next Conversation: Christophe Fouquet from ASML
- Speaker: Christophe Fouquet, President & CEO, ASML
- Moderator: Tom Giles, Senior Executive Editor, Global Technology, Bloomberg
After a turbulent week, ASML’s new orders in the third quarter totaled just €2.6 billion, less than half of what analysts expected. Shares suffered their biggest one-day fall in 26 years, erasing over €60 billion in market capitalization. In July, ASML shares were up over 50 percent in 2024. Now, they’re in the red for the year.
The first question posed to the CEO was to elaborate on his comment made last week during the earnings call: “The market would be a sad place without AI.” The question didn’t faze Christophe. He reflected that the demand for innovation isn’t going anywhere. The buzzword was extreme UV (EUV) lithography. Let me quickly explain what’s going on: EUV lithography is a cutting-edge technology used to produce semiconductor chips with extremely small features, down to a few nanometers, using ultraviolet light with very short wavelengths (13.5 nm). Mainstream semiconductor manufacturing uses deep ultraviolet (DUV) lithography with longer wavelengths (193 nm) and can’t achieve the same level of precision. EUV plays a critical role in advancing semiconductor technology, enabling the creation of faster, more efficient chips. Their dominance in EUV is vital to maintaining leadership in the semiconductor industry and geopolitics. But you need to consider people, skills, infrastructure, power, supply chain, and immigration policies for the sector to b sustainable.
My Thoughts: The conversation was very interesting, seeing a CEO position himself in a positive light amid last week’s storm. EUV is only going to grow and propel the chips industry forward.
Next Conversation with Sharon White
- Speaker: Sharon White, Former Chairman, The John Lewis Partnership
- Moderator: Ruth David, London Bureau Chief, Bloomberg
Sharon came out of the blocks on fire, stating the UK has done well to get to the heart of issues and ensuring digital-first strategies are giving oxygen to authentic and genuine news. Online information needs to be thoroughly examined. We need multiple sources of information to tackle fake news and misinformation. False information travels at lightning speed; it’s important that companies do their best to tackle misinformation. Sharon was great—her points were concise and laser-focused on the issue.
Next Discussion: “Dude, Where’s My Data? Protecting Your Information in the Cloud”
- Panelists:
- Shlomo Kramer, Co-Founder & CEO, Cato Networks
- Roy Reznik, Co-Founder & Vice President of R&D, Wiz
- Ellison Anne Williams, CEO & Founder, Enveil
- Moderator: Jordan Robertson, Cybersecurity Reporter, Bloomberg
This panel discussion was like a royal rumble of thought leaders sharing insights on cloud data protection. Data breaches are inevitable; what companies do next is key—what do you fix first and next? Companies need to move fast and prioritize how to fix breaches and get everyone on board within the business. The panel was lively and passionate about data protection, especially when data operates across different countries and regulations.
Panel Discussion – “The Robotic Revolution”
- Panelists:
- David Reger, Founder & CEO, NEURA Robotics
- Kristen Shannon, Chief Operating Officer, Dexory
- Moderator: Lynn Doan, Managing Editor, Technology, Bloomberg
This was a very interesting conversation on robots working in factories to robots appearing to do human chores. Robotics is moving at a rapid pace—from military use to dancing to pop music—the future looks like we are going to have a robotic presence. Now, using robots for good like clearing landmines and hazardous substances, I get that. But using robots in wars is a very scary thought, especially when drones are being used in current conflicts. Then, with the influx of robots and AI, what happens to low-paid workers? The race to develop the supreme robot is not only happening in the US and Europe; China is also competing for market dominance. The question we should ask is: Is this leading to greater innovation for civilization or global market positioning?
Panel Discussion – Live Podcast Recording: Bloomberg’s “Elon, Inc.”
- Guest: Devika Shanker-Grandpierre, Founder, JSG Strategy
- Hosts:
- Max Chafkin, Author & Senior Reporter, Bloomberg Businessweek
- David Papadopoulos, Executive Editor, Bloomberg
This panel didn’t hold back—the gloves were off! When Elon took over X, he got rid of 80% of the team responsible for keeping the platform safe from harm. Not having teams to ensure the platform is safe in different countries and languages poses a real threat.
Key Questions Raised:
- What is free speech? Who does it work for? Is free speech for all or just some?
- How does censorship manifest in different languages, countries, and social media platforms?
- How do social media platforms encourage hate speech under the guise of free speech?
The session got me thinking, and as you can see, asking a bunch of questions. We are living in dangerous times—the summer in the UK was a real worry for people of color. Elon poured petrol on the fire by questioning the Prime Minister and the legal system.
Panel Discussion- In Conversation with Wayne Ting
- Speaker: Wayne Ting, CEO, Lime
- Moderator: Lynn Doan, Managing Editor, Technology, Bloomberg
Wayne was very impressive; his passion for bikes, tech, and innovation shone through. He stated that 60% of car trips are done within a five-mile radius. Wayne excitedly claims that his biggest competitor is the car. It was interesting to hear how he’s using tech within the bikes to find ways to improve their deployment. One question that wasn’t asked was about the littering of bikes across the high street and the difficulty it’s causing for disabled and blind people.
Closing Thoughts:
Bloomberg Tech London 2024 was a day jam-packed with innovators and influencers shaping the AI, data, tech, and cybersecurity landscape. It was great to see a wide range of speakers and their insights. This event aimed to keep things balanced and not just focus on the hype surrounding AI. It tried to show a different light on AI, data, and robotics. Regulation, jurisdictions, geopolitics, and power can burst the AI bubble in a heartbeat. Having all these perspectives definitely made it a great event.
You can watch the talks on Bloomberg Live’s YouTube channel.