The major factor influencing businesses for this ultra modern business world is technology, said a top bank executive on Friday from the Singapore Summit.
"Technology is changing the way we operate. Technology will change competition, terms of competition and this is positive," said BNP Paribas Chairman Jean Lemierre. "We need to believe this, we need to invest more, and we need to adapt it for betterment."
Speaking to sources, he added that technology will change jobs, rather than do away with employment.
"I do not belong to the group of people who think that technology will annihilate jobs — technology will change the jobs," Lemierre said.
"We need to pay a lot of attention to provide innovative training, education, adaptation. At the end of the day, it will be an element for growth and it will be positive. We shouldn't see technology as negative, technology is a positive element for the world," he added.
BNP Paribas said in February that it intended to invest 3 billion euros($3.57 billion) in digital technology over the next three years, the Financial Times reported.
Lemierre was upbeat about the broader economy, saying healthy growth is observed in U.S., Asia and Europe. Market volatility, meanwhile, is low, he added.
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