Transcripts For CSPAN3 National Competitiveness Forum - Part 3 20180108

And digital currency. This is just under 2 1 2 hours. Hello. Thanks for having me. My name is adam piore, and im glad to be here. Im here to talk about my book, the bodybuilders inside the science of the engineered human, and some of the trends that i reviewed. Its funny to be here, because i left d. C. I used to cover im a journalist. I used to cover capitol hill. About 20 years ago i left and said i was never coming back. And actually, i covered congress for a newspaper in new jersey, and i left in the middle of the Monica Lewinsky scandal. My job was to stand off the house floor and ask every congressman what they thought of the days news. So, i quit my job and i went about as far away as i could go, and i moved to the country of cambodia. And i spent a year and a half there reporting on events there, and it was an amazing experience. People were the country was emerging from 30 years of civil war, from a genocide in which one in four people died of murder, starvation, and disease. And what really struck me while i was there was this theme of human resilience, you know. And it was a very valuable experience after i mean, d. C. , theres a lot of data here and a lot of information, but to be seeing peoples lives and how they bounce back sort of changed the way i looked at journalism and what i wanted to do. And when i came back, i wanted to write more about the theme of human resilience, and i found that in the United States, some of the most exciting stories of human resilience are being unleashed by technology. And thats really what my book is about. My book is about a field called bioengineering, which im sure some of you have heard about. And you know, i guess my presentation here is less datadriven than some of the stuff, but i just wanted to you know, what i tried to do was put some of these trends that we keep hearing about in the news into context, and some of these, you know, fields like bionnics, genetic engineering, braincomputer interfaces, thats what i really focused on in my book here. Ill put it right here. Its a little bionic vetruvian man there. Got a little creative. Anyway, what all these things have in common is weve sort of reached the tipping point. And in the last century, some of the most talented engineers, we did incredible engineering feats. We went to the moon, we built skyscrapers, we mastered flight. And sort of my argument and what, you know, ive seen in the last ten years of sort of covering this beat for science magazines like the m. I. T. Technology review and scientific america and popular science, is that you know, the new frontier now, some of the most talented engineers are turning their sights inward, into the human body. And you know, weve always tried to do that, but now many of the technologies that weve heard about here, sensing and computing technologies, are allowing us to do things that we could never really do before, to reverse engineer the human body and mind in a level that would have been impossible just a few years ago. So thats what i tried to explore. And you know, these are trends weve heard a lot about, and im a journalist, so i went out and i tried to talk to people and find out if this was really going on, what were learning about where our limits lie and how we might overcome them and how this was actually affecting peoples lives. And so, i think its pretty obvious, this is going to be a tremendous area of growth in the next century. You guys are the ones who can figure out how to monetize it. Various different areas are coming along at different paces. But ill tell you, the first person that i wrote about and the first person i talked to sort of demonstrates, you know, an area where already theres progress that can be commercialized. And that person was a man named hugh herr. And ill just tell you a little bit about him, since its lunch and i like to tell stories. This guy, hugh herr, this was a great story of human resilience. This guy was he was not the best student in high school. He was a c and d student, but he loved to rock climb. And he was already as a teenager kind of a worldfamous rock climber. He had been on some rock climbing magazines as a young prodigy, and all he did in class was think about rock climbing. And one day he went hiking in mt. Washington, new hampshire, with his friend. They ice climbed. They got to the top of a mountain. The winds shifted, and they were in the middle of a blizzard, and they went down the wrong way, and they descended into the wilderness. And they wandered into the wilderness and they got lost, and they almost died. And they were rescued on the brink of death. And hugh herr had severe frostbite and both his legs were amputated below the knee. So, the doctors told him hed never walk, hed never run, hed never climb again. And every night he would go to sleep and he would dream that he was running through the corn fields behind his parents house with the wind running through his hair. Then hed wake up and hed see his legs were gone, and you know, it was devastating. But soon he was tired of being in bed, so he scooted out of bed. He started climbing around. He realized he could pull himself up on the refrigerator, he had all this arm strength. He convinced his brothers to take him rock climbing. And on the rock wall, he was able to, you know, he was even lighter than before, so he began tinkering with his prosthetics. He made them seven feet long, he made them little stumps with blades so he could climb areas he couldnt climb before, and soon he was even better than he had been before, and he was on 60 minutes and was kind of worldfamous again, an inspirational story of this boy wonder. But when he got down, his prosthetics were, you know, they were no better than the peg leg that had been designed for civil war soldiers or pirates a couple hundred years ago. So he began tinkering with them, and he began enrolling in engineering and math classes, and he became a straighta student. And he got accepted into m. I. T. And today hes one of the le leadilea leading bionics engineers into the world. And what hes done is he has taken these technologies that im talking about that are driving this revolution, which are computing and sensing technologies, and hes used them to make bionic limbs that are so similar to the real thing that when i went to go visit him at m. I. T. , i couldnt even tell he was wearing them. You know, we were walking across an icy quad and i was slipping and he was wearing fancy italian leather shoes, and i couldnt, you know. And what he did is, you know, and this is sort of what well see more and more of it at greater resolutions, but when you think about it lets see, i wrote down this number here. We have, how many . We have 206 bones, 360 joints, 700 muscles and about 4,000 tendons 4,000 tendons, and a small portion of those are on our legs. He took ablebodied individuals, used the same kind of motion capture technologies that you see for ea sports or avatar or any of those movies, and he had them walk and he recorded how the constituent parts of the leg move in relation to one another. So he could tell, you know, when your ankles at this angle and your knee is here and youre moving down at this depth what happens to, you know, your foot. And he was able to take these variables and put them into a computer algorithm, and he put them on a computer chip. And then he built robotic parts that could emulate the real thing. Its a manageable number when you think about it, 306 joints, however many bones and different parts. But still beyond our capacity to figure out by hand. But when you think about the advances in Computing Power and sensing power in recent years, it suddenly becomes a manageable problem. And so, he built robotic parts out of, you know, silicone and various things. And this device that hes made adjusts hundreds of times a second. And you know, hes done tests on treadmills with oxygen and co2 and force plates to see, and it really does emulate the real thing. It feels so realistic that disabled people often when they try it out, they begin to cry because it feels so real. Theres a long way to go. You have to hook it up to the nervous system if you want to do the real thing, but thats just an example of what we can do. Now, when you take that further, and thats what i wanted to look at in my book, you know, all the different areas that we hear about have to do with reverse engineering and doing the same thing, except on a much greater level. So lets see, how many neurons do we have . I think we have like 300 billion, i guess, and maybe 3 billion nucleotides in our jean y genome. We dont have the power to reverse that yet, but people are trying a certain extent, and its amazing how far we have come in some of these areas. When you think about, well, genetic engineering, thats one area. There are some mutations that are caused by a single you know, some conditions that are caused by a single mutation. And i looked at one of them. I mean, theres a negative rebulator in muscle growth called nyo statin, and its a protein, and if you knock out that gene, you get bigger muscles. There is a guy at the university of pennsylvania, now moved to florida, lee sweeney, and he made what the press called Arnold Schwarzenegger mice. He knocked out the myostatin and they got really big. So, theyve been using this as a potential therapy for people with duchennes muscular dystrophy where it tears their muscles apart, but others have gotten a hold of this and muscle heads are getting ripped. So lee sweeney, in addition to pushing this and taking part in the trials is also a member of the antidoping authority. So, when you look at intelligence, there are thousands of genes that can be involved in combination with environment, and we dont necessarily have the computational power yet. Theres a company in china called bgi, and they have sequenced about 1,000 people with high intelligence and have been trying to get to the bottom of it. But theyre using supercomputers. But its only going to get easier as these technologies improve. So, thats one example of where we are on that. And then in terms of the brain, i looked at the most extreme example is trying to understand and decode imagine speech, you know. So, there are people who, it seems like the ultimate challenge to me, theres people who are locked in, who have lou gehrigs disease and have lost their ability to, you know, to speak. And so, there is a project that was funded by the u. S. Military. There is a guy at the Army Research office who was a Science Fiction fan growing up, and he had always dreamed of a thought helmet. So he actually funded people. And one of the people, i forget theres somebody here from Washington University, right . Yeah, eric luthard. I wrote about him, hes in the m. I. T. Technology review this month, and i watched him do technology, but he and gerwin schulte have discovered a neuro signature of imagine speech. And what they have found is that when we talk, our mind sends a signal to the motor cortex to tell the muscles of our articulators how to talk, but it also sends a copy to the auditory cortex as an error correction mechanism, so we know when somethings wrong. And amazingly enough, when we just imagine speaking, it still sends that signal there, and you can actually pick up that signal. So, eric luthart of Washington University and gerwin schulk of the Albany Wadsworth institute, can tell if somebody is imagining reciting the gettysburg address or the Martin Luther king i have a dream speech, but they cant, you know, listen in on your thoughts and just decode it yet, altogether. But you can imagine that once we have computational power to monitor 100 million, 300 million neurons, maybe Something Like that would be possible. So anyway, as you can imagine, there are all sorts of areas where theres potential growth in the future, and thats what i explore. And there are all sorts of ethical issues as well. You know, i asked somebody at beijings genomics institute, what do you think, should we really be able to tweak intelligence . And he said, you know, i think every parent should be able to have their child be as intelligent as they want. And i thought, well, there anything that would alarm you . And he said, well, i could imagine a very aggressive tiger mom who wants to engineer her child with the perfect combination of intelligence and ruthlessness and she gives him antisocial lack of empathy. And so, that was a little alarming to think about. So i dont know. Were going to have to grapple with these issues, and theres no easy answers, as i asked a military scientist, are these Good Technologies or bad technologies . And he said, it depends. Is a baseball bat a good thing or a bad thing . Its a good thing if we play baseball with, but its bad if we use it to beat somebody over the head with. So, these are issues that were going to have to deal with. And you know, in terms of commercialization, it depends on its just going to increase our level of specificity. Kind of what we rely on now, we rely on smallmolecule drugs and we systematically alter the molecules in all of our body. And were going to be able to get more and more specific as these technologies improve. I also wrote about a technology where theyre actually trying to stimulate neurons directly with electricity, which is much more robust, but were a long ways away from this. So, anyway, that is my talk, and im happy to answer questions. Thank you. [ applause ] did anyone want to ask questions . I have a question. In your lifetime do you think we will really be able to sorry. In your lifetime do you think we will have solved the most complex dangerous brain cancers, galileo blale glioblastomas . I dont know, but i have seen many encouraging things. One thing thats going on youve probably heard of is immunotherapy. And somebody was just telling me last night, you know, at Argonne National laboratory in lawrence, theyre using supercomputers to look at cancer and look at some of the data sets from veterans. And you know, as we have big data, we can discover some of these things. I have been down to a place called m. D. Anderson in houston, and theyve set up this platform where theyre looking at sort of theres an interesting battle that goes on between different cancerous tumors and the immune system, you know. And i dont know if anyone has heard of these things called checkpoint inhibitors. Theyre what saved jimmy carters what saved jimmy carters life. Basically theres switches in the immune system that can be turned on and off. Some cancers are able to flip a switch that turns off different components of the immune system. At md anderson they are learning to flip it back on. So in glioblastoma, im not sure what goes on in that. It seems a very effective way to fight cancer would be to harness the bodys own immune system. But i do not know specifically where they are in that. Thinking about how you suggested a mother might choose particular traits for her child. It sort of raises the nature versus nurture argument from a different perspective. But presumably the child would still be limited by genetic material they had to work with. Right. But i mean, i guess the idea people are talking about, if you understand the genetic cloed and what combination of nucleotides would have super intelligence you could use chris per and technologies to write the genome. That combination of genes, genetic code that would allow them to be the most intelligent. I guess what im saying so ma many so many complications between different nucleotides, i think were a long way from decoding exactly what will allow us to control intelligence. Let me just add a little complexity to that. We thought as biologists when the human genome project was complete wed understand this. Turns out, as most of you know, each gene codes ultimately for a peptide or a protein. So if you know how many genes you have, you should be able to match those to the number of peptides. Turns out theres several mul multiplication in the genome. The other complexity here, if you take two identical twins, humans, some of you may be aware, their fingerprints are actually different. Epa though they have actually the same genome their phenotype has been modified in their Genetic Development let alone the nature once they are born. Thinking we can identify the gene, supplies it and put something in and result in a final human being thats going to be have those traits is far from the reality. Nature has levels of complexity. Im just giving you some examples, that arent going to simply let us its not just one gene, one trait, even when we think thats the case. On the other hand, there are some genetics is in some ways revolutionizing pharmaceuticals or certain companies. Theres a company thats partnered with all sorts of academics who are looking and studying different populations that have rare mutations with a powerful effect. Anagen bought this company in iceland called decode, which they have tried because the icelandic population is so homogeneous, they have collect add lot of dna from a lot of these individuals. Its easier to spot very powerful mutations associated with different diseases or that could predispose you. Usually its a combination of a lot of things. For instance, i think one of the reasons anagen bought decode they found in elderly patients a mutation that seemed to make it harder for them to get alzheimers disease. It didnt explain alzheimers disease but apparently it made it harder for them to form the plaques and tangles that actually cause it. If you can replicate that with a small molecule drug, you could presumably combat alzheimers. But you couldnt give them intelligence necessarily. Adam, as you went around the world did you notice a different in intellectual perspective of visual augmentation versus physical augmentation . I dont know. Ive read Tropical Storm some studies from, i think, scientific journals that many people academic try to intellectually augment themselves with ritalin or all sorts of stuff. I dont know what its like in college nowadays. But i have actually you can see the same thing that happened with steroids is happening with some of these gene things like myostatin. As soon as they get discovered in the scientific literature and they are used to help the weakest among us steroids were originally used for muscle wasting disease. People who were survivors of the holocaust. Athletes start using them. Recently i read about somebody for business week, a guy, ucc san diego and Salk Institute named james evans. Hes actually found a mutation hes found these receptors that if you tweak them they can make they can allow a mouse to run twice as far as he normally would. Its like this fat burning switch. If you administer this drug, the body starts to burn more dplglue and you delay the point which the mice hits the wall. They call these marathon mice. When he First Published about a drug that did this in 2008, he gave a copy of reference sample to World Antidoping Authority. I think they found samples on Tour De France within like three weeks. But then the World Antidoping Authority was so alarmed that they put out a notice warning trials had been stopped because they had been found to cause cancerous tumors in mice. That helped a little bit. So theres been evidence that the soviet the former soviet union doping authorities have used this in some places. But recently evans came out with a new drug that supposedly doesnt have these tumor causing effects. You can be sure its already being made in china and bought on the black market. So its hard to control. [ applause ] thank you. Our next session is a series of fireside chats featuring speakers representing a broad crosssection of the Public Sector who will highlight various Disruptive Technologies and their impact on the u. S. Economy. To moderate this session ladies and gentlemen please welcome executive Vice President on council of competitiveness mr. Chad evans. Economic Growth Drivers evolve over time. In the pre18th century, the main driver of Economic Growth was cultivation, extraction. In the 19th and 20th century, the main economic drivers were really manufacturing and industry. As we look forward into the 21th Century Building on manufacturing renaissance and new Energy Strength what we see is compute power innovation coupled with Human Potential will be the core drivers for future growth. This afternoons set of conversations over the next 90 minutes will reflect some of this revolution, some of this transformation as we explore the implications and impact of big data and analytics. Americas future workforce challenges the opportunities they face. The rise of robotics, Autonomous Systems and increasingly on demand economy. An increasingly cashless society. New frontiers in medicine and health care. Of course Cyber Security and Cyber Resilience in an increasingly fragile world. This afternoons first insights will come from dr. Jackson, did the Vice President and chief Technology Officer of Lockheed Martin. Dr. Jackson will share with us some of his thoughts how the physical and digital word are colliding and converging every day through sensors, networks and a tsunami of data. Big data is a game changer for generating value and enhancing competitiveness. As a society we produce today or actually every two days as much data generated from the beginning of time to the beginning of the 21st century. In just two careers the amount of available Digital Information in the world will rise from 5 to 50 zeta bytes. Within this turbulent data rich intense World Companies and organizations are finding ways to seize on opportunities, to expand horizons and create new businesses, new industries, new markets. Id like to welcome to the stage dr. Jackson who is going to share some of his insights and perspectives from the aerospace and defense sector. [ applause ] thank you, chad. Im finding the clicker here. Let me start with a question and do a show of hands. How many people got here to the forum some way via commercial airlines. So first of all, im glad you all made it here safely, but im hardly surprised. The reason is, the likelihood of anyone being involved in an accident, any accident, not a fatal accident, is about 3 in a million. So our airline industry, commercial aviation, has an amazing safety record. The reason is the industry has been laser focused for many years on finding and fixing every problem, whether its materials and manufacturing, design, maintenance, ultimately things like pilot training, flight operations. And so if you look at the record over time, you see this incredibly dramatic improvement over many years. So thats the great news. The disappointing part maybe is when you get that good, its really hard to continue to improve anymore. Or maybe that was the disappointing news. Because the reality is when we come up against these kinds of walls, what happens is typically some game changer comes along that creates a whole brandnew paradigm. For our generations one of those Game Changers is big data. So let me give you maybe an example here. And ill start with the s92 helicopter. The s92 built by one of Lockheed Martins its our helicopter manufacturing division. So the s92 is already the safest helicopter in the world this. Brings me back to aviation. The s92 is actually a flying sensor hub. It collects 100 megabytes of data every flight hour. Out there theres about 200 over 200 terabytes of data on this frame, over 1. 1 million flight hours. And the volume of that database is increasing with the square of time. So we use that trouve of data with avionic systems, when that flight has to be there, like example in the video of a baby being airlifted for medical care, its big data making that happen. The Sustainment Team is looking at this data to be able to predict in advance any kind of potential component failure long before it grounds the aircraft. Practically speaking we have predictability in flight hour operation that is exceeds 95 . You can see this is making a real difference. Were not just increasing safety, improving aircraft availability, were actually driving down maintenance costs and increasing profitability. So now take that example more broadly. So big data this data tsunami, as was said, this is really driving decisions for us as Industry Leaders about how to increase our performance, to increase safety, ultimately to improve our competitiveness in the global marketplace. And that data, a lot of it is generat generated by device on the internet of things at exponential rate. Figuring out as Business Leaders how to capture the value of that data is one of the pillars of the fourth industrial revolution. So there was a recent Mckenzie Global Institute survey and they concluded theres going to be about 11 trillion or more dollars of added economic value due to big data and the internet of things. So leading companies are now exploring how are we going to capture that value for our organizations. And so Lockheed Martin is working on this revolution in many front. Maybe one of the exciting things ill talk to you about today is how were actually reinventing how we use big data to redesign or design brandnew manufacturing facilities. Today when Lockheed Martin decides to build a factory, we start Virtual Reality with modeling and simulation, data analytics, predictive analytics, and even artificial intelligence. So we build the entire factory in the virtual and digital realm before we ever put a shovel on the ground. We actually simulate years of production flow. We understand how were going to build the hardware, and we understand what its going to mean for the resources required. And then when we actually go and build the real factory in the real world, we do the same thing, collect that data, analyze it, and ultimately continue to optimize our production over time, increasing safety, quality, efficiency, reducing resource utilization. Again, improving business outcomes. So let me give you an example of that. This is a factory we recently built from the ground up to produce a new military vehicle. So again, youre actually immersed here in what we showed to our customer to demonstrate our production versatility, flexibility and precision. In the virtual 3d factory, were using interactive shop floor production flow and assembly sequences to really understand not just our Resource Requirements but how to optimize that flow. And so when we look at the sem ply line from end to end, were actually figuring out how to make ourselves impervious to disruption. Were using a combination of proprietary Machine Learning software. Were using Historical Data from existing factories and using this modeling and simulation to ultimately figure out what our risks are and how to mitigate them and to focus then on quality and safety. So to understand what this means, this factory that i just showed you, when we went and built that in the real world, we built it flawlessly in less than a year. So ive given you a couple of examples real world use of big data. How about an example thats out of this world literally. So were also using big data to overcome both challenges and achieve opportunities in outerspace. So think about almost 50 years ago. Apollo, we sent astronauts to the moon. The apollo guidance computer had 64 kilobytes of memory. It operated at a blistering 43 kilo hertz. When we sent astronauts on orion in the future, that spacecraft generates 2 terabytes every hour. Thats like 10 million times 10 million times the data right, telemetry data rate of apollo. Next is oppose la, soon after that send astronauts to the moon and mars. The speed well be able to do that, how soon that happens is going to defense extensively on our ability to use big data, monitor trajectory, speed, altitude. Things like tank pressures, battery voltages. Weve created what we call mach 5, data stack. Totally stream lines ability to analyze this data on the ground. But more importantly, in realtime on the mission, now we can compare all of that data thats being generated to every flight that happened before to every test that happened on the ground. So now we can find and fix issues before they ever impact the mission. Ultimately that means bringing our astronauts back home again safely to the ground and to earth. So like orion, big data is actually opening up brandnew frontiers for us. Not just in exploration but in productivity. Of course that offers us a choice. How are we going to react to this whole new world of opportunities ahead of us. So maybe let me finish up for you with a question. How are your organizations going to react . Are you going to embrace this big data challenge, disrupt your selves, lead that revolution . Are you going to arrive late and struggle to catch up . At Lockheed Martin, Mission Success is in our dna. Our mantra is engineering a better tomorrow. So for us this choice is very stark. Its about whether were going to continue to increase safety and performance in aviation or live with the status quo. Are we going to build connected hyper efficient factories of the future or are we going to fall behind in productivity . Are we going to lead in Mission Success across the entire solar system, or are we going to miss out on the future of exploration . So for all of us, the choice is obsolescence versus competitiveness. Every day theres 2. 5 exo bytes, 2. 5 quintillion every 24 hours making that choice abundantly clear. Thank you. [ applause ] thanks again, that was great. As i noted in my opening, you really brought to life innovation comes from people. Thank you for those insights keoki. In the 21st century were seeing deep transformations taking place but also unprecedented challenges. Perhaps we see this nowhere clearer in the Energy Industry and Energy Sector with nearly 2 million americans employed in jobs that are directly related to electrical generation and another 2. 5 million americans who work in Industries Directly or partially related to things like Energy Efficiency and energy productivity. As we look more deeply into the demographics of this sector, we perhaps see some troubling trends. For example, lets look at workforce demographics. Just two years ago the Nuclear Energy institute estimated 39 of the Nuclear Industries workforce would be eligible for retirement by the year 2018. Thats literally just days away. Yet with challenges come opportunities. Id like to invite up to the teenag stage to talk about these challenges and opportunities mr. Nicholas akins, chairman, president , and chief executive officer of American Electric power, mr. Stevensphenson from International Brotherhood of electrical workers. Okay. Were just going to jump right in. Our time is short, gentlemen. Nick and lonnie. Weve heard a lot today about the explosion of Information Technologies and other technologies really relevant for your industries, distributed degeneration, smart home device, electric Battery Storage innovations. All of these and many other innovations are leading to new businesses, new employment opportunities, but they are also going to require new sets of skills, new workers. So taking into account this new reality, i first want to perhaps just get a snapshot, a response from you about those general trends, then id like to dive into a second set of questions which is really what you see most important challenges and opportunities and matching skills and matching workforce training to these new demands. So nick, would you like to kick off . Absolutely. Our industry is in such a traumatic change right now. Its really appropriate the previous presentation finished with big data. Big data analytics, certainly the focus on technology, Technology Innovation are transforming our industry. Historically its been an industry built around generation transmission and distribution of electric power. Today its more than that, much more than that. Its Cyber Security. Certain physical security. But also in terms of the way innovation is occurring were not only taking advantage of distributed resources themselves but cuss usage patterns. Individual customers have different ways of using the product we deliver. If you can aggregate all that and use it, it actually produces tremendous Value Proposition for our customers. So its truly an industry, though, as you mentioned with the Workforce Development requirements associated with that, we not only have to map the replacement of people who could retire, just in our company alone, well have 5,000 people retire over the next really around the next five years. We have to really map that out. But we also have to think about what are those jobs of the future, data analytics. Certainly from a technology perspective, weve got to have a different view of how that automation and digitization is going to have an impact on our business. We supply a product this country absolutely needs. Puerto rico is a perfect example of that today. Were in puerto rico today, doing work there. Theres no question as we move this transition forward, were going to have to think about, number one, ensuring we have the workforce of today but also bridging into that workforce of tomorrow and certainly the ibw and aep have been instrumentally involved with that. Any thoughts . As we do the transformation and go into more of the renewable energies, you know, the lineman of today is certainly much different from the lineman of tomorrow. If you told me 20 years ago that a lineman would have to be working with computers and doing all that type of electronics, you know, i mean, they were climbing the poles and working physically and they still do and still will but they are also going to have those additional skills they are going to have to have to do all the electronic part and computer skills as well. What if we get a little deeper with what you just described. Nick, you painted a picture of frankly a new industry thats emerging. What do you see are some of those skills you ned to develop . How are you partnering with iebw to get what you need . Lonnie, i would ask you a mirrored question whats iebw with nick and his team and how are you working together . Im curious about this couple is all about collaboration and convergence of industry and labor sitting right here in front of us. Wed like you to give usa case study. I can certainly tell you ibw and aep have worked together over 100 years. We have over a billion work hours weve worked on projects that changed the world. The largest Transmission System in the country, generation first of its kind in many areas associated with that. We continue to make that evolution whether solar or wind. What does that mean in terms of the grid itself, electric grid itself and optimization efficiencies driven by new technologies, what effect thats going to have on workforce requirements of tomorrow. Apprenticeship has long been something weve done. Ibw has done that for their entire history, training associated with that, but also expanding that training to include these new technologies and how to use the new technologies going forward. Its an instrumental part of the transition that we need to make. Lonnie, any thoughts . You know, again with the training. We are now in the Construction Side of the house. Of course, our Construction Side supplements our utility partners. They have got their utility employees. They have got bigger projects, transmission line and contractors. So the same thing. Were bringing in more training, doing more training for outside construction. We partner very closely with our utility partners. Call them partners and not employers because we truly are a partnership. Were very proud of the relationship we have with all of our Utility Companies. And working together and collaborating to make sure were getting quality workers, quality applicants, you know, to be hired by the utilities and also in construction. Were also partnering with the technical colleges. Okay. I think is a real issue here, we have a shortage of line personnel across this country but also in terms of these new technologies to make sure we have people that can do these kinds of work. Were starting everything from s. T. E. M. Related education early in middle school and high school and mapping those careers into jobs, jobs today and jobs of the future as well. I want to go deeper there. You mentioned just a few minutes ago building things like the largest transmission project in the world. Weve heard earlier in the day about the scale of the challenges and opportunities. Not just in the United States but even globaly. As you begin to think about your next project, the next generation that you think will be able to deliver the energy we all need. One, im interested how you begin to think about that, how you begin to pull together the partnerships and make that happen. I was curious in addition to the great work and partnership with labor, what are the new opportunities with community colleges, technical colleges . Are there things you see that you need that arent there yet . Are there things people in this room can help you with . Lonnie, i would pose the same question to you as well. Absolutely from our perspective cyber physical security certainly from a computing standpoint, making sure that we have those kinds of skills to be able to adapt. Many of these new technologies are digital and automation type technologies. If we want to continue to drive efficiency at the same time driving overall benefits to everyone and their society of electricity and how to use it, weve got to ensure that our people can really map to those particular sets of skills. Data analysts. The market is pretty strong for data analysts these days. When you think about the change from a historic system that we have today versus what were going to see in the future, the digitization and automation associated with that are going to drive huge amounts of analytics associated with it we didnt have before. I grew up electrical engineer running Power Systems and always thought this is the way things are mapped together. This is a whole new realm there that goes back to the customer. The ibw is part of that process. Ill give you two examples. Smart cities, aep and city of columbus won smart cities challenge. Were in the process of developing that activity within the city. That goes to extension beyond the electric system into electric vehicles, automation, street lighting, all those types of aspects should be mapped together to provide these benefits to society. That means we have to expand the bandwidth of the workforce associated with that and certainly ibw is working to do that as well. Any thoughts . You know, another thing were doing in partnership with our utilities is to try to get more workers that are qualified and know especially on the line side. Weve got these utility trust funds, weve actually built Training Centers across the country where smaller utilities that maybe dont have the resources to start their own apprenticeship and training, but they are needing to start up new training now because of the aging workforce. We now have this opportunity, we can get people to go through this training. Its almost like a boot camp, go through and get a feel for what the trade is, what kind of work it is. Then after they come out of that, it gives a pool of employees for then the employers to take a look at whether they want to hire them. Because somebody, especially on the line side, i can tell you ive interviewed a number of people that want to be a line apprentice. First thing you ask them, do you have any problems with heights. No, i dont have any problem with that 30 of our apprentices that come through, they break out the first we have a boot camp to just learn how to climb a pole. 30 of them dont make it past that point. Obviously thats a huge skill you have to have. Theres another aspect, too, people dont realize. The Apprenticeship Program takes typhoon years to get to fully functioning line person. It really is something you can to think about. Five years. I want to link to something you said. I see a deputy drove from Lawrence Livermore lab, other lab leaders. Im curious about that. You talk about data analytics, greater and greater data needs, modeling and simulation. My other hat at the council im thinking highperformance computing capabilities. The shared National Infrastructure we have in our National Laboratories that probably are already engaged with you or perhaps could be engaged more. I would love to hear your thoughts around what do you see as some of the tools that might be available that you already are using, or perhaps need better access to to actually do the work. We talk about smart cities, as you said, not just about this but everything connected, these things draining more energy. Its a huge challenge. Were working with so Many Technology providers today. Silicon valley and otherwise, that are working on aggregation of customer loads, aggregation of system data to be able to really provide capacity benefits so you dont have to build that next generation facility. Those are the kinds of things working. Ill give you an example. Theres a company weve been working with that some even invested in, Storage Technologies weve invested in directly. But certainly when we talk about some of the aggregation, there is a company that does work with target. I was in the target store. They actually caused an event to occur. The lighting comes down 50 . Im watching customers and they dont bat an eye. They are still looking for what they are shopping for. Theres value in that. Not only human psychology but also in the systems themselves that do all the way back through the system. Thats what were looking at. I also want to ask you a question that you raised, and it gets back to this Training Center idea. Youre working with the men and women of the ibew every day. What are you hearing from them . What is exciting to them to be engaged with Companies Like nicks and others and how are you responding to that . Whats the new Labor Movement looking like in this space . Especially with our utility partners, they are good paying jobs. When those folks go to work for utilities theres good quality jobs because they have to have a lot of skill, a lot of skill set. They are good middle class jobs. They can provide for their families. We need more of that. We need more of those type of jobs. The Utility Industry provides that. We love the partnership we have. Give you an example with storms. Our utilities have mutual aid. I dont know how many people know that. When they bring linemen and linewomen all over the states in the United States and canada, down in texas, down in florida, a number of them down in puerto rico, we can bring all these people who really are the First Responders if you think about it. Everybody is running away from the storms, our guys are driving down there and getting all their equipment ready to go. As soon as the storm passes they are trying to get everything back on line. Were proud of that. Ill add from the ibw perspective, we have a program called code of excellence. That program is really focused on making sure people have the training necessary but also have the right attitude associated with the work they are doing. When you have an ibw worker on your premises, you know exactly what youre going to get. They are educated. They know what they are doing. Many think unions are primarily craft, construction. Its beyond that. There are people, some of these jobs require a degree in chemistry. There certainly are requirements. The ibw presenting those kinds of professionals to our industry is extremely important not only to the security of this country and what we do every day but the sustainability of our country. We have a few minutes. Id love to open up to questions. Please raise your hand and well get a mic, too. Please, tom. Please introduce your self. I was curious, are you using drones for any of the maintenance inspection, et cete cetera. We are. Hurricane harvey, hurricane irma, were using drone technologies. We had to work extensively with the federal government to get airspace cleared so we could use them during those kinds of things. Youre going to see more drone technologies continue in terms of regular maintenance which is occurring some element of reparations, seeing a lot of research in that perspective. Then you have to think what are the operators. A natural extension to the jobs. A longstanding for the past decade really exploring things like energy security, sustainability, innovation in the energy space, we think is the key driver. As you think about what you deliver, how do you think about linking that to how you provide what do you think is the real opportunity . A fundamental challenge of the nature we need to address. Whether infrastructure youd like to see we spend a little more time on. We have to ensure manufacturing. A large part of our in terms of competitiveness, costing a lot of money. All those things lead to ability to provide and manufacturing remembers are competitive in the territory. I think we need to think about energy. Move around, switch it around and still keep things up and running. Theres a lot of modernization that needs to come. Even though were headed that direction, many Utility Companies headed in that direction, a lot needs to be done. Theres a lot that needs to be done. If theres one thing from infrastructure perspective that we could do as a country that would really improve our Competitive Position for the next 10 to 20 to 30 years, what would each of you say to that . How would you respond . I would say investment, innovation, technology d industry is the most capital intensive industry it is in the country so far. Over 100 billion a year of capital is put spoke this business. For us to make those kinds of longterm decisions, we need consistency from a Public Policy standpoint to ensure we are making the right decisions as we go forward. But theres no question with Technology Changing the way it is today, we do need to have that forward view of what this industry is expecting, what our customers and shareholderers are expecting as well. Closing thoughts there. I think the same thing on the Construction Side of the house. Were continuing to bring people in to train, to do all the additional work that needs to be done right now. Having the ability for them to know this is a career thats going to be sustainable career and they are going to be able to make a lifetime of living at it. When were bringing in new people, were always thinking about that, are we going to be able to sustain these jobs. Right now we need everybody we can get. I think from the perspective on the council of competitive. At the end of the day we face productivity challenges in the nation. Ultimately its about prosperity. Are we creating inclusive growing economy. I think you provided, both of you, insights how one sector in the economy is turbo charging and has the potential to make that happen. I want to thank you both and look forward to working with you going forward. [ applause ] thanks again, nick and lonnie. Were going to pivot a little here. This is a little unconventional setup. Were going to slide into another conversation. Its going to be about another i think critical emergence of Technology Challenges at the heart of competitiveness, ingenuity and invags. Its not just about the workforce, although thats critical. Another transformation at the heart of our longterm productivity potential is coupling both of these in ways in which were moving people, ways in which were moving goods and services. We are truly living through a state of people in mobility. Were in an era of on demand transportation. Frankly were living in an era of on demand lifestyles. With industries constantly redefining themselves daily through the integration and deployment of things like in car or on bike gps, which is linked to qr code or to wireless mobile payment system, but all of which is surrounded by ubiquity, low cost and convenience for consumers. So id like to go deeper on these things. I see our two panelists coming to the stage. Id like to welcome the chancellor university of california, disags and principle of advisers. Also like last time we have a short time so were going to get right into it. I want to get your reaction. It seems like we know a great deal about how human beings engage in traditional modes of transportation, traditional modes of travel. But we seem to know less today bow how on demand Autonomous Vehicles are going to respond to humans and cities, twisty roads of our suburbs and himps. We also seem to have to learn a lot more about how humans are going to be reshaping their own life in a world of greater mobility and autonomy. Maybe im going to start with you. Right now i want to ask you the same question and jump in. What do you really see as a major societal transformation and the implications of this transformation as we live and grow in this sort of more on demand super mobile paradigm . I think we need to think about on demand is not just about transportation its about consuming content. On demand consumption of video, all sorts of stuff playing games. I think theres going to be some fundamental structural changes in the economy. We are headed towards what i think of as 0 marginal cost economy. You have 0 marginal cost to own a car. Like uber is a great example. Somebody has the assets, i just pay the fare and im done. There will be zero emissions on the car, zero marginal emissions. The manufacturer of the car led to emissions but operation does not, if they are all electric. There will be 0 accidents. There will be 0 accidents, 0 costs of ownership, 0 environmental impact. This fundamentally changes everything. So imagine now that people have made their livelihood by manufacturing dishwashers and dryers, where every one of us who has a home has to buy at least one. Imagine that you dont need that many because everyone living in one room, two rooms in a larger comunetype environment. Imagine not everybody has a d h dishwash dishwasher. You can see fundamental changes in the economy. Behavior is changing, amount of money changing. Millennials spending way less money than you and i. Exactly right. I see a fundamental ship, and i think its going to crack the economy completely open. I want to make one more point. Living in this economy is going to take more technical savvy than making today, so not just about creating jobs or getting jobs but living temperature technical side. The need for greater literacy just for living. Thank you. I echo what dr. Khosla is saying. The current model of transportation is inefficient. 95 of cars are not utilized. Its one of the most inefficient utilizations within the current economic landscape. 1. 2 million fatalities unfortunately occur per annum. If you look at the cost of ownership the engine car about 7,000 above. So if we look at the economic impacts, not only are they specifically for cars but Traffic Congestion that cause enormous impacts, estimate 2 to 4 of gdp. If we look at 20 of the 25 most congested cities in the world, emerging markets, the top five cities, istanbul, bangkok, moscow and bucharest. Incredible amounts of reduction not only in bangkok iq drops 5 , poisoning the if we look at atmospheric effects of co2, half a billion. The Current System is inefficient new system the cost of a pooled taxi is 2. 50 per mile, Autonomous Vehicle is 0. 17. Were going through the laws of 0 exponentialally. The cost is dropping. By the middle electrical combustion engine. If you look by 2020, 2021, the total cost of ownership will be the same. It will be quite dramatic. Up to 25 of urban space is based on parking. Parking garages need to be reconfigured t at the same time instead of occupied with driving it becomes a mobile office, sbempl entertainment, rest. Looks at productivity declining over time. The Energy Revolution is one where we see an increase and the increase will be positively beneficial to the world economy, economic climate. Additionally if you combine that with solar energy, solar regeneration, energy nicholas and lonnie were speaking about, if you look at the World Highest amount of electricity and sunlight, greatest between male and female education. The only predictor of gdp growth rate, it statistically female education is the delta. The revolution that will take place in the sunbelt, already Fastest Growing economy, it will be revolutionary. I want to stay on this revolutionary and pursue two threads. One technological thread. Both of you mentioned or hinted at some technologies you might see coming down the road that might lead toward this zero marginal cost world or towards a Greater Energy efficient productive world. Id like to hear from you both about predict a little more for us. Get out the crystal ball. Then if you could, link that to the point you just made. A couple of technological opportunities with what you see as youre perfectly poised for this. What do we need from our students to make that world come to life . Zero marginal, right now, if you live in a reasonably sunny place, you can have somebody install solar panels on your house which will power your house 24 7 plus throw electricity on the grid and you will get paid for it. In fact, you pay nothing. You get paid for it. Some operator somewhere has the cash, has the access, deploys the asset, is using your rooftop as real estate, right . That to me is 0 marginal cost. I think well see the same thing happening in a whole range of areas. So the impact of this is that as the user now, as somebody who is living in society, i have to be able to understand what this means. Its so nonintuitive to tell somebody selling somebody the brooklyn bridge, hey, ill give it to you for free. Potentially empowering. Exactly. You have to be aware. How should i say. You should be a deliberate consumer, have technical savvy to understand how it works, how is it youre getting something for free and Something Else is making money, right . This is no different than looking at your assets and deciding you dont know how to monetize the assets or you dont have the cash. I will have the idea and the cash. Im going to use your assets to create value for myself. By the way, if you just look at some of these predictions, the passenger economy, assets called by 2050, 7 million economy. In 2020 right now the question is does it add 7 trillion or is part of the 20 trillion. The answer to that question, slightly different perspective. Dr. Khosla, youre involved in the social aspects. I can discuss how can we make money . Were in an era so much disruption, more ideas about how capital will be lost versus where the opportunities are. I think the opportunities are threefold. We will shift away from petroleumbased Transportation Industry probably by the middle of next decade. So the oil hit by 2023, 2024 as electrical costs come down. This will benefit other sources of minerals. I think there are minerals on nickel, cobalt, zinc, led. Raply changing, vhs, betamax, i dont know. The one commodity i think that will continue to do very high demand will be copper. We have much more taxation on the grid. Copper demand will go high. Copper old and aged, very quickly i can disrupt that. The secondary we can benefit is trillion management that lonnie mentioned. The number of companies in the u. S. Mitsubishi in japan, these companies with picks and shovels in hands the electric grid to intelligent area, manage electricity on the grid, off the grid and come back and optimize that. The opportunity that is a bit unusual out of the box the fact that Many Companies import significant amounts of oil. Solar energy in india, down. Diesel. Estimates in india 50 of the official grid capacity is actually diesel generators. So as we go away from that towards battery renewable localized industry, there will be much less oil imported. As oil import is less, foreign currency stops going up, you have much better financial conditions, Interest Rates go down and property prices. The areas that will boom are areas currently importing oil, investing in renewables versus the country exporting oil and facing economic impacts. Those are the three areas for me capitalistic perspective where im looking to make money. Id like to give a chance, we have about between or three minutes left to give the audience a chance to ask any questions. If there are any, raise your hand. I wanted to go back one more ti ti time, your position in a beautiful part of the world, great students, a university youre leading, youre at the cutting edge of technologies. What do you see in this space of highly on demand mobile, marginal cost world, what are students telling you about where they want to go and how are you helping to empower them to really capitalize on what rehan is describing. Its not the students as much as their parents. These 18 years old are only about 40, 45 years old. A third of our students are first generation and first generation families really focus on is my kid going to have a better life than i would, just like all of us have had. Now these parents are really concerned they may not. So they want to focus on s. T. E. M. , they want to focus on health, they want to focus on medical sciences and in these areas, which is all fine and great. But what causes me concern is deemphasis on our humanities, social sciences. These are the areas, believe it or not, its not mathematics that allows you to do critical thinking. Mathematics allows you to do some sort of algebraic problem solving. Critical thinking making an argument is to english, philosophy, to political science. These are the areas deemphasized in the families, through the students onto our campuses. I think were in a downward spiral. To me as chancellor it causes me concern. Rehan, how do you respond to that capitalizing on opportunities as the chancellor is saying, does that matter to you or folks in your world . The Human Experience is complicated. Solar Technology Based on binary logic. As dr. Khosla mentioned the world is solving human solutions, human problems, so technology is a tool. We need not only regeneration in different areas, minors perhaps discuss after me. Im much more into these areas. But we need a combination of broadbased area. Progress never comes from a group but interdisciplinary approach. Ive heard professors an chancellors speak here at conference, it gives me great confidence that they understand this and want interdisciplinary approach rather than the approach during industrial economy. This requires Diverse Knowledge and depth. So the educational institutions presented here i think are providing the future. Were getting the red light here. But pradeep and rehan, weve talked, this is a National Competitiveness forum. Pulling from what youve just shared with us, what would be your one recommendation for the u. S. In this space . What can we do to ensure were leveraging tremendous opportunities. Easy for me to say invest more in research. I think fundamentally were going to see different Business Models. I think we need to create understanding of how these Business Models lead. For example i can imagine Car Companies are asset owners now. They are giving mobility as a service. I can imagine them becoming Transportation Network service providers, right, which is going to create Job Opportunities in these companies which are beyond industrial engineer, mechanical, electrical. I think we need to think about as educators what are those areas we open up in. The future, based on our students, as universities require more interdisciplinary approach, engineers look at humanities, humanities, different groupings that speak to each other as earlier chancellor interdisciplinaries approach and we get different groups to speak to each other, the mix of getting biomedical with medical with the pure sciences, this is a completely new way of knowledge learning. It has huge historical perez se precedents from 2,000 or 3,000 years ago. Thank you. On that note [ applause ]. Thanks. Thanks again. Fascinating. I have to just tell a quick story. I was actually recently in phoenix with a colleague of mine, doctor roberto alvarez. We ordered an uber which was driverless, but the driverless uber actually had two drivers. One is a drivers just in case we went off the road and he could try to save us and the other was an engineer. So were not quite there, but were getting there. Earlier we heard about work force challenges and the opportunities in the Energy Sector. We just heard how autonomy and this on demand paradigm is radically changing our society. Concerns are mounting around the appearance and rapidly advancing capability of robotics, triggering dire predictions about the future of the human work force. Some estimate that 50 of the worlds current work can be automated. And similar estimated contend that up to 800 Million People including a third of the u. S. Work force can lose their current job by 2030. Whats really happening . Might we not see a growing demand for workers and the creation of new jobs . Whiegt im happy to invite to address these issues mr. Nicholas pinchuck to really help us sort through these trends and the conventional wisdom. My talk is that robots are coming. The robots are coming. I feel like paul revere. I guess the followup question, are humans going to be needed. Sure they are. No ones called me nicholas since sister Frances Loretta in the third grade. The robots are coming. Its inevitable. But the Time Associated with that rise is uncertain. Believe sicingulasin singulairt few. Theres good News Associated with this. They dont threaten everything. The path to, i think, managing through this has to do with capabilities spread across our work force that is the upscaling of the American Work force. The question is how to deliver that upscaling and how to overcome the perceptional question of your jobs going to go away because the robots are coming. Im just a simple tool maker. Ill give you my ten second resume. I was educated as an engineer in the east. I started life as a football coach. Fought with the American Army in vietnam. Was a cfo. Lived for 11 years in asia and by stroke of luck came to the great snapon company. Its been the good fortune of my life. Along that time i have closed, much to my embarrassment and shame, several factories. Ive opened many more fact orif. And the people enlisted in those businesses that ive been associated with i think have built lives and prosperity and dignity of which im very proud. Ive met extraordinary leaders beyond my station, including the eminent Debra Wynn Smith who leads this organization. The thing thats most important about myself. The thing im most proud of is i delivered my own daughter in the back seat of a car in a p parking lot at 4 30 in the morning. When i went to the back seat and grabbed that baby by the ankles and hit it on the rear end and heard it make its first breath and sound. My wife asked me, is it a boy or girl . I was fooled by the umbilical cord in the dark. Its a true story. It has something to do with later, so keep that in mind. [ laughter ]. Look, the robots are coming, but historys sing yularity still 40 of the homes didnt have indoor plumbing. 2006, i remember working on Adaptive Cruise control in 1969. It finally came to fruition in 2006 in automobiles, available as a feature. Martin ford wrote a book. He and i are quite different. He says, look, were going Derrick Anderson wrote an article two years ago called World Without work. At the end of that he concludes that a world where the brilliant few subsidize the millions through some sort of universal basic pay for america is the road to civic ruin and loss of self esteem. In fact, in competition with other countries, anybody can employ robots. Only america can take hundreds of millions of people and deploy them to capability. Its an important factor, i believe. So there are ways. You can say, well, robots are going to replace everybody. So it will be, but its mostly the humans who are working on repetitive jobs. If you read the New York Times yesterday, Alex Williams had a talk about will robots take my childs job. And i think he ends up with a great line. He says, talking about the idea that repetitive jobs of all kinds will be repaired but jobs that deal with variation will not. He said the robot plumber is far, far, far in the future. And so it is for the mechanic and many other things. I can tell you if you think about snapon, snapons a tool maker. We have adopted robot after robot from seashining sea and our employment has grown. Why is this . The obvious outcome of roberts has been the focus most people think were going to adopt robots so we can lower cost. I think thats wrong. I think well adopt robots and well see theyre best used to expand the customization of the services of the product and therefore empower those people who can manage the variation in their jobs. Thats what happens at japasnap. We expanded our employment while we added robots. Can you imagine im driving along and my wife starts screaming in the back seat and i had to depend on a robot in the back. I dont think so. If that robot had done it, i wouldnt have had that memory of being fooled by the umbilical cord. Its kind of a human example, but we have preferences for this. So the robots are coming. We dont know how fast. We know they threaten. We know they threaten our strength and our esteem. They threaten the american dream. We know theres a way around it, but theres a price to pay. That is upscaling the American Work force, making sure our workers can deal with the nonrepetitive tasks. Ive said this often. Upscaling the American Work force is the seminal issue of our time and i see no path to prosperity without it happening. Part of it is expressed in the idea that were in a global competition for jobs. People get ideas and many compete to be the amplifiers of those ideas. Theres another factor. As workplaces change, americans have to change with them. So im urging a kind of fame ems on upscaling, not just in engineering school. The thing is more and more what we consider technical careers, welders and car mechanics and Airline Mechanics require tremendous insight. Because theyre wielding technology. How do we do that . One is we need to make sure that the schools match the curriculum. Thats not so easy for you educators. They say what should a businessman say about education. Not all educator dos that. Many are very receptive. I think its an efficacious relationship between business and education. Then theres the other thing. Increasingly as we talk about robots, the perception of the stability of the jobs becomes more in question so that people that accept jobs, whether youre talking about in a manufacturing factory or in a vehicle garage or maintenancing rocket boosters, people think those jobs are going to be taken over. So theres a perception question. And we must guard against that. We can get in a situation where people say the robots are coming, the robots are coming, the robots are coming and then they interpret that as meaning that if you enlist in one of those jobs as a career, you have settled for the consolation prize of your society and it is fit only to the gamma minuses of our society. This is something we must guard against. The more we talk about the march of technology, the more that becomes a risk. We have to guard against it. This is my pitch today. I think its pretty short. The robots are coming, but it antihapp aint happening by next thursday. They do threaten us. They threaten americas strength. The broad population and our american dream, which is having a job which delivers by my own hand, by our own hands, ability to keep your family warm and safe and dry a generation of pride and the earning of pride and dignity. All is not lost, because theres a lot of jobs enabled by technology that require to deal with variation, but they require the increase in capability and upscaling the American Work force by action and by perception of those jobs, is the seminal issue of our time. There is nothing more important. You can look at it this way. When we see the future and we see robots, we can either say were going to go to a universal minimum payment and say the American Worker is a question, or we can say the American Worker is the answer. And if we arm them with the capabilities, they will wield technology to our advantage, to our National Advantage as it always has been. Thank you all for listening to this and i wish you all a happy holiday and a great new year. [ applause ]. Thanks a lot, nick. I have to just shake your hand. Thanks a lot. Well, thanks for many things, nick, including reaffirming Human Potential. The radical changes that weve explored so far in these sets of conversations arent limited solely to the Manufacturing Sector. Many of the disruptions that weve talked about are rippling as rapidly if not even more rapidly through all sorts of industries, including finance. In a recent study, 24 of americans indicate they make no purchases using cash in a typical week. Nearly 40 indicate they dont particularly worry about having cash on hand to make purchases. As we have heard every day in the news, crypto currencies and Virtual Currencies are on a tear. The value of a bit coin has increased by 1300 year to date. This new type of currency tees up a longterm question. Can we imagine a world in 100, 50, or 20 years in which the u. S. Dollar or the euro is no longer the global currency of choice . What would this mean for competitiveness in the United States and for the rest of the world . Id like to use mr. Jeffrey warnic to share some of his thoughts on this topic both on bit coin and Block Chain Technology thats really revolutionizing the financial industry. [ applause ]. In beginning to talk about bit coin, id like to first discuss how it should be framed. Mostly theres misinformation, disinformation and some of it intentional, some of it unintentional. We have to think about the framework under which the bitcoin ecosystem and block Chain Ecosystem was designed. I had been involved in conversations with people who were talking about creating Digital Currencies prior to the paper in 2008. What was happening in 2008 . We were in the midst of a financial crisis. Prior to 2008 if we really thought about somebody would have said the Financial System is a fraud. While home prices are rising, everybodys feeling wonderful, nobody would pay attention. What happened in 2008 is the Financial System collapsed. The way the Political Institutions responded to it has been questioned by many people. It became the perfect opportunity to say there is alternative to money. For a long time theres been people when Ronald Reagan ran for president and people dont remember his platform in 1980 in supply side economics, one of the things he talked about was not only cutting taxes but going back to gold, a hard currency. They formed the Gold Commission that ended up not embracing gold. The average life of a fiat money regime is somewhere around 25 years. Were around 47 years into our fiat money regime. What does bitcoin and block chain represent . With respect to one of the failures of a fiat regime, its backed by nothing, as opposed to goldbased money which is considered a hard currency. But we dont need the hard currency anymore if we have something thats sort of a Virtual Currency that everybody can hold in their wallets. Thats exactly if you take a look at what happens when the United States was most competitive, was in the 19th century, prior to there being a central bank, when there was issues about because the constitution was first formed, had defined the u. S. Dollar in terms of gold and silver. So we went through a period of time where we had no deposit insurance, no central bank. So we had a Financial System that people basically trusted. Through that system, the country grew. And then we created the fed. Then we created the tax code. Then we created deposit insurance. And since then, weve had a lot of volatility. When Financial System profits is a percentage of gdp when reagan was elected president , it was like 4 or 5 . Now it fluctuates between 1720 . Why does the Financial System form such a High Percentage of our economy . Mostly because of the fact of financial engineering. Then we attempt to delude ourself that is the economy is proceeding well. If you take a look at this existing election right now and why so many people were supporters of disaffected by the major parties. There was a lot of empathy for sanders and the republicans and clearly trump and these were not traditional candidates. People really know the economy is not very good. Theres a website called shadowstats written by this economist john williams. What they have is they say here is alternative measures of gdp growth, inflation and employment. We used to have one way of measuring government statistics in 1980. We revised it in 1990. And after 2000 we used alternative measures. Basically we give a lot of discretion into how we measure output and inflation. If we measured inflation the way we did in 1980, what do you think the inflation rate is today . When Ronald Reagan was president , if we measured inflation exactly that way, what do you think the inflation rate is today . Anyone have a guess . 10 . Weve never recovered from the recession. Right now negative gdp would be about 44. 5 . If we measure it the way we did in 1990, inflation would be at 5 as opposed to the statistics we see right now. Theyve giving a lot of discretion and the fact is now they can alternate the basket. They can say i dont really buy that but you theoretically could. Theyre able to put all these assumptions into the model to basically have a lot of discretions. Were rendered our Economic Statistics to be pretty meaningless. The average person feels their purchasing power, their wealth is worse off. We have Student Loans that cant get paid. We have a bankrupt Pension System and we have a fragile Financial System. What did we have to do in 2008 . A lot of the bankers would talk about that they paid back their loans. They were forced to take the capital necessary. What they dont seem to talk about is the fact that the federal government guaranteed the deposit lies in the system for more than 18 months. Before the government guaranteed the deposit lieabilities, the spread was over 400 basis point. What do you think the value of that guarantee is . Take all the amount of deposit liabilities in the Financial System and assume that the government guarantee is worth 0 200 basis points. Then you had the investment banks that have unlimited borrowing at the discount window. I couldnt get to the discount window. When jamie diamond says that bitcoin is a fraud, hes the fraudster. Hes the one paying billions of dollars in fines for defrauding customers and he had a system that if you give him money, youre going to be guaranteed that the purchasing power of the money will be less when he gives it back to you, if he chooses to give it back to you. You have to go and knock on his door and say i want the money and if theyre satisfied with the explanation theyve give it back to you. If theyre not satisfied with the explanation, they dont have to give it to you. It becomes their money, not your money. So i would like to be in the business. I can take your money, i dont really have to give it back to you. I can pay you a low Interest Rate because the government is giving me deposit insurance. If i went out into the marketplace and tried to buy that deposit insurance, if jamie diamond went out and said i want to buy deposit insurance and said how much would i have to pay to guarantee my Balance Sheet to get a aaa rating, i can tell you it would be significantly more than what he has to pay into the fdic. The Banking Sector is the most subsidized sector and its the most fragile sector of the economy. When people say how do i preserve my capital in a system where everything is tied to this fragile Financial System that makes the pricing of all other assets derivative of it is how do i create a store value for myself. People went out, worried people like me you go out and say maybe ill own agriculture, real estate, some gold. But all those hard assets got bid up in value. What also happened during this period of time is Peoples Trust eroded. People dont trust their politicians. People dont trust any institutions. You can trust institutions because we create this Third Party Intermediary and a neutral observer and they convey trust. At the same time weve debased our currency, weve also debased any institution as being a reliable agent as a trust agent. We say how do we create platforms where we engage in transactions amongst and between ourselves and not have to worry about trust, where trust becomes an irrelevant concept. Hence, bitcoin. If you think about the rooms of bitcoin, if i was going to go out in the Financial System today starting from scratch and nobody ever heard the term money before and i got up here and said we want to make sure we distribute a means of exchange that we can engage in transactions with each other where were confident that we engage in transactions. One idea is im going to go out to the forest, im going to chop down some trees, make some paper and give somebody a Printing Press and this is the smartest person i know so let them control the Printing Press and let them do whatever they want. Theyll print as much as they want whenever they want and distribute it according to their own criteria. Then you have another system that goes out and says were going to produce something according to certain rules. Were going to create a consensus and put all this energy into calculating and solving algorithms. Were going to have a certain amount of currency emitted each month, then a certain amount each year and over a certain period of time. And were going to do it in a system where the infrastructure that creates that currency is bra basically unhackable. Whatever is going on is on a distributed ledge their no one person controls. And whatever activity that goes on that ledger is open to everybody and audited by everybody. Which system would you choose . If we start from zero, nobody would defend the system we have today. The existing system today is the fraud, not bitcoin. I think many people dont really understand the rules of how bitcoin gets created, how it gets mined and the fact that theres a quantity limit that impacts its life over how many bitcoins get created each year and ultimately. The last bitcoin will be issued in 2140. Its going to require more energy to produce every incremental bitcoin because the algorithm gets more difficult to solve. The point is to make the system more difficult to hack. Theres a real logic and internal consistency into the model. When people take a look at the bitcoin, then you have to take a look at blockchain. You have to separate bitcoin from any other crypto. Bitcoin has intrinsic becauseva. You could look at it as digital gold. The rest of the systems, are ecosystems. Theyre ecosystems that require Economic Activity be put on it. Looking at creating smart contracts and building applications on top of it. The point is basically to build an economic ecosystem on top of it as a platform and not necessarily a currency like bitcoin is a currency. Bitcoin is very very different than any other thing in the crypto world. Why the other cryptos exist is were transforming the economy. Ronald kos asked why do we organize firms the way we do. He said we organize firms in a way to mitigate transaction courses. Bitcoin is an attempt to eliminate transaction costs. So if you have a distributed platform of information and then you have a book where nobody controls it and how people ascribe value to it is determined by the community. If i go out right now and i put information on facebook, okay so i put information on facebook or im looking on amazon for books or im doing google searches. So im producing data. Im producing information. So they take that information and they sell it. So they monetize it. What do i get in return for them taking information about me and monetizing my data . If you take a look at what it means, i heard people talk about work. I like to think about value, not work. Anybody whos engaged in an activity is creating value, because theyre creating information. Anybody who creates information, people value that information. If im going out there and im producing information out there, the problem is right now instead of me controlling who i sell the information to and i receive the money, im basically giving all that power to google, to amazon, to facebook and theyre selling it in a way that maximizes their value, not necessarily my value. I find it entertaining. Im sure if i went to people and said, you know what, with the information youre getting that youre providing to these platforms, okay, if i would say that theyre selling this information for x dollars, if i gave you x dollars to never use that platform again, which would you value more, the dollars of how much money theyre getting with that information or your engagement with that platform . I would guess most people if they really understood the value of the information theyre conveying probably would not be willing to offer it because theres no market price for it. The question is how do we create a market price for our Human Capital. Right now many businesses dont get the money because theyre in value business. Theyre in the rent extraction business. How do we create sovereignty over ourselves. Say for example a bunch of people have a heart problem. We could sit back and say we go to the doctors, the doctors get all this medicine, it goes to the National Health foundation and they do all the research. Im sure that really improves the quality of our lives being nudged all day long or seeing ads. Im sure we really love that. Im sure we like paying for that or conveying value for that. Can you imagine a platform where everybody walks around with their own Digital Health record . I go to the doctor. I go to a hospital and i do a study, i dont see them saying were going to take all this data and sell it so were going to discount your treatment because were going to sell the data. No. Its very expensivexpensive. If i went to the hospital and i said heres my digital wallet with my Health Records. You have 30 minutes to use it and then the information disappears because its my information. Then i went out and said i want to build a platform. Im a platform designer. I want to get everybody who has this health issue, put data on this platform. Im not going to know any individual to be able to look inside your data. Youre going to have a public key and a private key. So you own that data but youre agreeing to put it on this platform. Were going to hire these people to be the governance of this platform. Were going to sell the data to somebody who we find we maximize the value of the data i guess ive got to wrap up. Or we can determine who people knocking on the door and says you have this heart problem, sell us this data, were going to analyze the data and this is why we credibly are people who can help you with your solution. It empowers us. What the blockchain and decentralization is about is empowering us. The previous talk was robots, human beings, whatever. I look at the individual. What creates sovereignty over ourselves. Weve surrendered sovereignty of ourselves. Were giving all this value to third parties that are using it in ways we would never pay them to use it because we dont know how to preserve property over the intangible aspects of who we are. This is the power of the blockchain. If everybody goes out and issues a currency, i can be a token myself. I can create the jeffrey token. And somebody out there might say jeffrey token has value to me so ill exchange. I might have value to them, they might have value to me. So we might engage in transactions. It makes the issuing of paper money kind of irrelevant. We all engage in transactions relevant to each other in a tokenized world. We have an explicit price for all those transactions. We dont need banks, we dont need debt. All we need is figuring out ways of how we turn out ideas and our personal capital into something other people value with this free exchange. When people sit and talk to you about bitcoin, blockchain, drug dealers, Money Laundering people, theyre all liars. Theres a lot more money going through the Financial System than the Bitcoin Community in any of this stuff. I dont believe drug dealers are running around or people in afghanistan with their bitcoin wallets in their hand and running and saying i ran out of bullets. Let me see who will take my bitcoin in exchange for my bullets. Not happening, okay . Not happening. Theyre using fiat money. Theyre using their credit card, their debit card, their cash, their dollars, whatever. Theyre not using bitcoin. The bitcoin and the Blockchain Community is about returning power to the individual. Thats what the community is about. [ applause ]. Were going to move onto our next topic. Another industry thats undergoing exponential change is health care. Health care finds itself at a critical Inflection Point driven in large part by digitization. 25 Years Ago Health care was machine assisted and analog. Today health is Technology Oriented and digital. With all this happening, were lucky to have dr. Zao, the president of the u. S. National academy of medicine. We welcome you to the stage to share your thoughts. [ applause ]. Thank you very much. I thoroughly enjoyed the last two speakers. Im thinking what about health care. The topic i was given is frontiers in medicine, which i interpret broadly. First of all, i struggle mightily to say should it be a ted talk or should i show slides. I went back to my chinese root which is says a picture is worth a thousand words. Youre going to see a set of slides. Its much easier to illustrate the complexity of the technology. Id like to start out by saying at chinese saying, we live in interesting times. Obesity, diabetes, hypertension, cancer and of course the aging population. As you look at all those things, were getting a larger discrepancy between those who have and those who do not have the resources to get health care and help. Subsequently it also has to think about the whole context we live in, urbanization, climate change, globalization and that leads to as you know, ebola, pandemics, you name it. The question is where we are. Were in a mess. And the issue has got to be solved by both a combination of technology and science. So what im going to do is demonstrate to you some of what i believe are medical bre breakthroughs and technological breakthroughs. Every day you can read a newspaper, a journal article, you name it about a breakthrough. But some of these are through bre breakthroughs. Were at the point where we can edit individual genes and thae s use of stem cells to regenerate new tissues particularly in elderly and also in times of heart attack, stroke, et cetera. Immunal therapy, the ability to galvanize your immune system to fight cancer. And microbiome. What you see in this picture on left side is that very Simple Technology to say if i know a sequence of gene,i can create a system called crisper that can edit that gene precisely. So now you can imagine you can take off bad disease genes of mutation. You can also replace it with a good gene. So the issue is the possibility of curing diseases. I showed you here two columns. One co one which means the disease that we all have, but not at the time of embryo. That disease can be cured or treated with gene editing. For example, now 100 people have been treat ee eed experimentall attack the tcell, to kill it, making immune deficiency. That receptor can be mutated so hiv can enter. So far the day looks very promising that the triple therapy required are greatly reduced and you can move that way. Second is taking cells from adult or from a person with a genetic disease such as sickle cell and taking the cell now i can really treat many different diseases. This is what i do in my life. That is Genetic Program a skin cell to a muscle cell directly without having to go through stem cell. When you have a heart attack, your cells die and you form a scar and your heart gets dilated and you get heart failure. We can in the laboratory engineer and genetically program a scar cell to become muscle cell, whereby with small molecules you can actually repair the heart and regenerate. To tissue engineering, what you see in pictures here is a blood vessel entering Clinical Trials that is engineered. The brain is amazing. Now we can map genes and neurons and neurocircuits using a combination of light and a gene that can show you the neurons as being activated and follow the circuit. What you see also here is the ability to do brain machine interface. Its already happening. Somebody who has pair plerapleg use the brain to motorize a robot. My colleagues have demonstrated he can actually use brave driving a robot in china to move. This is, in fact, real life, exciting opportunities. Of course position medicine. Its not only sequencing genomes, but now you can measure so many things. The power of being able to precisely predict using a combination of data of what to treat and when to treat is amazing. When you think about this, i put down prevention is important. The bat tottom of the slide is neutral genomics. I want to illustrate three diseases where these things are being applied and then get to the whole issue of data and artificial intelligence. So heart disease, cancer and aging. In heart disease, theres a whole slew of new drugs, new imaging and new ways of approaching. Importantly, i want to point out the following. The devices, theres an amazing set of devices already deployed. The hybrid operating room how many people have heard of hybrid operating room . Probably nobody. Hybrid operating room is the ability in which you can image the patient at the same time as doing surgery. It used to be wed take an xray, put it up there, go back and look at the sppatient, go bk and look at the xray. Now youll be able to know exactly where the margin is and whether youve excised the cancer totally by doing imaging in the operating room. Robotics, of course weve discussed. There is now the ability to have pacemakers without leads and you can actually do echo ultrasound and actually be able to follow your cardiac rhythm in realtime. In cancer, with the ability to sequence the genome every cancer is made of a thousand different genetic mutations. When you can see on the left side is a series of targeted therapy. Importantly the breakthrough is immu immunotherapy. Now we know what those signals are, called checkpoints. By blocking the checkpoints, the immuno system is wrapped up. Gene therapy is being able to manipulate your system to fight cancer. Finally you can take blood and begin to measure whats circulating in the blood, dna and others to look at whether you have cancer, early cancer cells or not. All of this is realtime and its happening right now. Aging. Imagine thinking about robotics, artificial intelligence, the internet of things, remote monitoring. This is just an amazing area but which technology we know genes that can lead to long life. The technology between biology and engineering can be brought to the home of the elderly and be able to greatly enhance the quality of life and work effectively. Finally, the big issue of course is the ability to take data and convert it to useful information. In our field, we call big data and artificial intelligence. Look at the list on the right corner. Huge amount of things, many information you can collect that fuse data with data analytics, can begin to provide you information of what to treat, how to treat a patient and to make new ways of approaching treatment. On the left hand side is artificial intelligence. I have to say i dont fully agree with the early speaker that its about repetitive action. Artificial intelligence can read radiology, pathology. They can actually outdo the human ability, reducing human error. I think this will greatly transform medicine. I expect data and technology will greatly change the way we do care, engage patients. To be sure, i agree with jeffrey on that point. And help options, research and many others. Id like to end by saying, whats the future of health care. The question is, where is care given, where is care delivered, who can deliver the care and who is in fact making the diagnosis, who is assisting clinical decisions and how to improve productivity. All of those can be in the future, using big data and artificial intelligence. This slide shows you that in fact, as jeffrey said, patients can actually play a very big role. The patient in terms of being able to imagine doing a retina selfie. Theres a company doing that right now. We can manage and look at whether your diabetic disease is under control or not, to engage yourself in Decision Making and others. Ive shown you here that you can see nora. Nora is an intelligent assistant that can help you do almost everything, making decisions, help you engage your health. Its not the nudging thing he talked about. Its the in fact your assistant is part of you that can help you move forward with decisions. I would say the implication of all of those is that we are on the edge that we can cure disease if not greatly treat a host of disease. We have new knowledge and evidence applying to better understand the presence of disease and understand the social factors that influence disease, change the way care is delivered and assist in personal health care decisions. Whats the implication . This is where the issue is. First, patients have to own this. Trust is an important issue. Patient engagement. Second, do we have the right work force. Its a very different type of work force in terms of training. We need a lot of people that know how to use data and how to does it replace physicians . Does it create burnout . I just came from a meeting of electronic Health Record. Every doctor said im spending 50 more time doing electronic Health Record than speaking to the patient. Cost. Were also worried about driving up the cost. Will technology eventually drive down the cost . Reimbursement, access, are we going to create greater and greater separation between those who have the money and those who do not have the means and therefore many social implications. Work force. We need a lot more systems engineering, data signs, behavorial scientists, social scientists and communication. It we need teams of people working in the transformation. If you look down even as soon as 12 years, i strongly believe were going to see a very different type of health care environment. The medical and detechnological break throu breakthroughs will provide better tools. People centered with better outcom outcomes. The challenge is going to be are we ready for it. Therefore what is the pace of adoption of this new technology. How do you pay for the rising cost of care and how do you actually prevent the inequity that may emerge from all of this. I would say leveraging, incentivizing Public Private investment in this area is very important. Wheres the u. S. In this . All you have to do is hear the news about repeal, repair, all this problem. We need to get beyond this political argument of coverage to get into really health care and to optimize it. Artificial intelligence. I say that china and many others are ahead of us. We think were the best Health Care System in the world with technology. We need to actually put more together for the patient to make it more affordable and more equitable. Thank you very much. [ applause ]. One of the things im always remine e reminded in health is we all require sleep. I have to note youve just come in from japan for this presentation. So thank you very much. I hope you get a little rest. And our final innovation conversation this afternoon, were going to hear from mr. George fisher, the senior Vice President and Group President of verizon enterprise solutions. Hes going to answer a really simple question. Is America Cyber resilient. Why does this matter . It matters for a lot of reasons. In 2021 cyber crime will cost the world 6 trillion annually. Thats double the cost of cyber crime in 2016. Each individual attack represents significant costs for organizations whether small or large. And as a Manufacturing Industry increases its own reliance upon the internet of things such as the cloud enabled internet, big data, to improve productivity its simultaneously opening itself up to and making itself more vulnerable to Cyber Attacks. The Manufacturing Sector is the second most attacked sector in our economy right behind health care. These really affect the productivity and competitive of the entire nation. George, welcome to the stage and thank you for sharing your insights. [ applause ]. Thank you. I will not give you bitcoin back, but ill give you some time back. First of all, my apologies. My partner in crime today steve ashby had to take a west coast trip back. Were going to attempt to do a Readers Digest of this. Besides trying to do a detailed plan on Cyber Securitys impact on industry, its basically a call to action. Well go pretty quickly. Yes, we will. Okay. There we go. So, you know, im going to kind of click forward for you here in the u. S. Industry. So weve got a couple of issues that everyone in this room needs to be very aware of. Its around privacy. As you well know, privacy means lots of things. It means you may have your personal data stolen but you read every day about your identity being stolen. Also privacy, if you dont trust privacy, you will not interact with each other or you will not engage in commerce with us and others. So its very, very critical. We talked a little bit about iot all through the day. Security of iot is not just a matter of privacy. Its becoming an issue of safety. It might be one thing if its a temperature probe in a room. But if its a control valve on a pipeline or some sort of waste product that may be released into the environment, it becomes a much bigger issue. As you know, theres different attacks that can occur. The other most important aspect is the threat of i. P. Theft. Everything we heard today was about the creation of value around i. P. And work product. The fact is that these threats are organized in a way to steal and wreck or in fact sometimes vandalize the as you have heard from ransomware, steal it and then force you to pay ransom for it, as you can imagine, game of thrones and other interesting things that happened this year, starting way back with sony when the original picture on north korea was stolen. The other major thread that we need to be focused on is the Human Capital issue. Particularly for security and technical professionals, but also for compliance and other areas around policy. Theres an incredible shortage of those type resources, and we need to continue to invest. Lastly is the diversity of attack. And thats what im going to close on. We have here for everyone, its called the data breach investigations report. We for sure, the dbir. It creates basically nine categories of attacks and its done by vertical. The reason thats important, theres about 70 folks around the world in organizations that input into it, but one of the things we see, its kind of anecdotal, but theres some board and management frustration and fatigue around security. One of the things this report does is it helps categorize and prioritize how to approach fighting cyber warfare. Its an important document. Its here. Please regift it to anyone that is as interested. Okay. For the sake of time, im going to just briefly talk about steve again. The issue with Cyber Attacks is in fact, it is a national and a global issue, and the folks that are attacking us are very well prepared, highly intelligent, very organized, and extremely persistent. So the purpose of the events that were going to show you and your participation in them is a National Security issue and its a personal issue. So what were asking is basically the involvement of the team to have some detailed input into these issues. So were going to have three sessions. We invite you or your proxies to attend these sessions so that we can sit down and go through all of the issues that we talked about. Probably a lot of conversations around talent, organization, and other approaches to make sure that we do this correctly. The closure of this is well put these reports together. Were going to have an opportunity to package the report and issue it for our entire council but also be able to present it to the government and other interested authorities in a very organized way. So as you can see, we have the first one coming up in february. Where its going to be held at verizons headquarters in new jersey, at our conference center, and we very much would like as many folks as can attend as possible. You can see, we have two other sessions which we will also report on. So in closing, thank you for letting me come up and give you the Readers Digest version of this. All i ask for the remaining people is for you to please extend the invitation so we can have good participation and Cross Section of ideas and thoughts that we can package. So thank you very much. [ applause ] please welcome the president and ceo of the council on competitiveness, the honorable debra l. Winn smith. That was fantastic. Our last session after lunch has really been superb. Im going to be very, very fast. First of all, thank you all for coming, staying with us for the day, and participating. I thought i would return to my favorite game of alliteration, so i have come up with a tenpoint policy platform that kind of summarizes what we discussed today and the path forward. So the first, were all about people with potential, with purpose and perception. Prioritizing problems, producing progress and productivity, prosperity, pleasure, and pride. So all of you join this party. Be part of the promotion, participating in the year ahead, and all the work of the council. So thank you so much for your participation, your support. And please take the clarion call and promote it in all your activities and look forward to working with you over the year. And of course, anything we can do at the council to help your agenda, we stand ready to do that. I want to thank the council staff. Those of you here, stand up. Were going to do a staff picture before we all take off, but i want to wish everybody safe travel home and a wonderful holiday. And thank you so much. Former Federal Reserve chair ben bernanke and former treasury secretary Larry Summers are at the Brookings Institution today. Theyll be speaking about the possibility of inflation in the u. S. Economy. It starts at 1 00 p. M. Eastern. Youll be able to watch it live here on cspan3. And coming up tomorrow here on cspan3, the Senate Finance committee will hold a confirmation hearing for the president s health and Human Services secretary nominee alex azar. Hes replacing tom price, who was fired for taking expensive private jet flights and billing taxpayers. Mr. Azars confirmation hearing is tomorrow at 10 00 a. M. Eastern. Again, see it live here on cspan3. Cspan, where history unfolds daily. In 1979, cspan was created as a Public Service by americas Cable Television companies. And is brought to you today by your cable or satellite provider. The International Energy agency says coal use will continue to decline across the globe as the use of Renewable Energy increases. The head of the agencys gas and Coal Division spoke about the forecast recently at the center for strategic and International Studies here in washington