Disruptive Innovation for the Water Sector: Imagining the Future
The pace of innovation is increasing rapidly, and emerging technologies like artificial intelligence, 3-D printing, remote sensing and Internet of Things (IoT) are transforming entire industries. These new technologies are driving a “fourth industrial revolution.” Despite pockets of innovation, the water sector has been slower to adapt to this new paradigm, particularly in the developing world. The fourth industrial revolution holds both promise and peril for the water sector – on the upside, innovation in water supply and water resource management could vastly improve the efficiency of the water sector and expand access for hundreds of millions of people. However, the swift rate of change also brings a range of unforeseeable risks. Managing this will require new partnerships between governments, development institutions and innovators, as well as new business models and policy frameworks. This session will introduce work from the World Bank Group focusing on bringing the fourth industrial revolution to the water sector -- including a new vision for a 21st century water utility, and applications for fintech in the water sector.
5 min – Introduction, Disruptive Innovation in Water and the World Bank
10 min – Presentation, Designing the 21st Century Utility
10 min – Presentation, Fintech Applications in the Water Sector
20 min – Moderated Q&A