On-demand webinar: Trends in digital business

Angela Meyer: Welcome to our diva-e webinar: Trends in Digital Business. Today you will learn from our diva-e experts Albert Brenner and Felipe Kaiser which developments will influence your business in the next three years and how you can use them profitably for your company. My name is Angela Meyer and I am your moderator today. Albert and Felipe, a few words about yourselves.

Albert Brenner: With pleasure. Let me start. Albert Brenner, I am one of the co-founders of diva-e. Responsible for strategy and data topics. And that's right, I programmed my first websites back in 1996, so I've been in contact with the Internet professionally for a long time. And developed and built up various digital business models and always tried to keep an ear to the ground on digital trends. And that's why I'm delighted to be able to talk about this topic today.

Felipe Kaiser: Yes, hello, Felipe Kaiser is my name. I'm a Consultant in the Digital Strategy department at diva-e and part of Albert Brenner's team. We support companies in implementing digital marketing, sales and IT strategies. And, of course, we also help companies to implement trends. We'll be looking at some of these today and I'm looking forward to the presentation.

Angela Meyer: Very good. I'm also really looking forward to your presentation. And Albert, I'll hand over the broadcasting rights to you now and hope you enjoy listening.

Albert Brenner: Great, thank you very much. I hope you can also see the slides. We have prepared the following agenda for you today. We would like to talk very briefly in an intro about the importance of digital trends, very condensed. Then we'll take a trip, Covid-19 is on everyone's mind, especially in the business environment. And of course, Covid also has an impact on digital trends. We would like to explain and describe these in more detail. So that we can then delve into these digital trends. We have selected a few for you that we believe will have a significant impact on companies over the next few years, particularly in Germany, but also in Europe. And also change business and markets. And we would like to give you our perspective on the trend development. And then, of course, the question is: How do I make use of these digital trends? We have prepared a very short, condensed framework that we would like to explain to you. We'll show you a bit, open the box in our toolset. Let you take a look inside. And which tools you can also use to recognize and evaluate digital trends and use them for your own business. And then, of course, we'll have time for questions and answers. And we're particularly looking forward to that. Feel free to post now during the webinar. Angela will then guide us through the questions and then we can discuss them together. Let's get started.

The first question is always: risk or opportunity. There are many colleagues who always discuss digitalization in the context of: Oh, disruption, risk, adapt or die, discuss. And the others prefer to talk about opportunities. Adapt or Die naturally have a lot of fodder to report, they talk about Kodak and about past business models that have been disrupted and changed. There are of course many question marks in connection with digitalization. Job losses, will AI take over all jobs, data protection and so on. Some of these are very important questions, especially for us from a social perspective. But we caution against seeing digitalization in the context of disruption and its negative connotations, so to speak. In many areas, we see digitalization as an enabler, as an opportunity. Both on the social side, in terms of the democratization of knowledge and more flexible working models, but also the opportunities that arise for companies.

And today we want to take a closer look at opportunities when discussing digital trends. What trends do we want to talk about in more detail today and I'll take a look at the most important developments? Trends that address the customer interface of marketing, sales and service. But also trends that are more likely to change the company's value chain. Such as IoT blockchain, for example. I think AI is highly relevant in all areas of the company. And in this respect, we hope that we have made an exciting selection that we at least believe will be highly relevant for the German economy over the next two to three years. Perhaps before we get into these trends, a topic that concerns us all.

We are not wearing face masks in the webinar today. That is the advantage of the medium. But of course it has already brought about significant changes overall. And when we talk to Chief Digital Officers, we have a CDO Circle of around 100 CDOs from large companies across all industries. And no matter which CDO I talk to there, the feedback is always: Covid was actually an accelerator for us. The topics were there. It was more internal discussions and internal issues, concerns, also political discussions, sometimes too little attention, sometimes too little priority given to the topics. But Covid has changed many, many things. Not just in our private lives, I think it's still relatively moderate in Germany, but in our professional environment, we're doing webinars like today instead of going to DMEXCO in Cologne last week. Or we interact a lot with our customers via digital media, but also from our home office with our colleagues. And in this respect, Covid-19 has of course also changed our day-to-day work a lot. But beyond that, there have also been significant changes in purchasing behavior.

If we look at the latest figures, e-commerce sales in the USA and China have risen by around a third from Q1, i.e. from the first quarter of 2020 to the second quarter. That is already significant. Particularly significant from a German perspective if you look at the fact that e-commerce penetration or the e-commerce share of retail sales in these countries was around 25 percent. If you add another third to that, that is already a very significant proportion of goods and merchandise sold to consumers, particularly in the retail sector. In Germany, we are even more moderate there. We had an e-commerce share of ten or twelve percent in the retail sector there last year. However, we are also seeing significant increases there, particularly in the first half of the year. We also strongly believe that they will decline somewhat, but significantly, not to the level they were at before, but to a higher level. As a result, we believe that we will have an e-commerce share of retail sales in Germany in around 2023, i.e. around two years faster than the old forecasts, so to speak. And that will of course bring disruption to the retail sector. Especially in city center locations. But of course it will also change the image of sales channels for manufacturers and retailers. Whether in retail or wholesale. And, of course, we see a major impact on the digitalization of processes.

And overall, as I said, the feedback, the digitalization has been accelerated by Covid-19. In other words, the trends that we are seeing and discussing now can be accelerated and presented further. The term trends has already been used three or four times. Now we really want to delve into these trends and take a look at some of them. And we'll start with the topic of digital platforms. The keyword here is ecosystems.

The platform economy is a term that has been on our minds for some years now. And has been haunting us, so to speak. And we see it when we look at Apple, when we look at eBay, when we look at the so-called gaffer world, we see very strong digital platforms that have a significant influence on their respective industries. Be it in the distribution of media products, keyword Apple, keyword Netflix and Co, Amazon. Or in the sale of products and other industries. In this context, we often talk about ecosystems. And an ecosystem arises from a platform economic model when a large number of companies are integrated into this platform, interacting in a thematic context, so to speak, in a value creation context. And then we talk about ecosystems.

In other words, if I have a platform on the topic of smart homes. And there I have various manufacturers of smart home products, but also operators of various services relating to the digitally networked home. That's when we talk about ecosystems. And a good example is one of our customers, Viessmann, which has created such an ecosystem, a platform model in this area with Heizung.de and established it very successfully on the market. But in the platform economy and ecosystems, we very often also talk about B2C business models. What we will see in the next few years is that this model will also become significantly more important in the area of business-to-business relationships. And there are already various positive examples of this. One of our customers, Klöckner, a steel trader, said at some point: Trading steel will no longer be our core business model in future. Instead, we want to become a steel trading platform. In other words, we are a market enabler, so to speak. And where steel traders, steel suppliers and steel consumers will ultimately meet.

In other words, the platform economy and ecosystems always mean questioning the business model. And a reinterpretation of the business model. And that is precisely the difficulty and the challenge with platforms. If I have a positive business model today, proactively questioning it without worrying about it, transforming it, changing it, that requires a certain entrepreneurial performance. And that is why it is a certain challenge for many companies to develop such platform economy models. One approach for companies, and here I am talking in particular about fast-moving consumer goods manufacturers, who have discovered the platform economy for themselves in order to achieve something that they could not achieve without digitalization, and that is direct end customer contact. We see this as another trend. Not only in B2C, by the way, but also in B2B, and of course very strongly in B2C at the moment. And the point is that manufacturers who previously had few relationships with their end customers, but rather distributed their products to end customers via various trade levels, have sold them. But this relationship model was not very pronounced. It was more of a brand model, meaning that I created a brand that ultimately led to a pull effect, but also a push effect. And that is changing in the context of digitalization, in the context of platform models. Companies are trying to generate a direct end customer relationship. Ideally directly through the sale of products. But it would be too short-sighted to see the direct-to-consumer approach as a pure e-commerce approach. Because the first phases of the customer journey are particularly well suited to building direct end customer relationships. The positive effects of a direct-to-consumer approach, for example through more targeted communication, can then also lead to savings in the area of marketing communication. But then of course, depending on the industry and market, direct sales to end customers. Or then also post-sales, which directly maintains customer relationships. And thereby reducing dependencies, so to speak, optimizing the margin position and reducing costs. And to be able to record an overall efficiency gain in the processes.

Another important trend, and we can already see how things are interwoven, is the platform economy, direct-to-consumer and Felipe will be talking about AI and data-driven automation later on. This is of course very important at this point so that a company can maintain relationships with a large number of end customers. Direct-to-consumer, what are the advantages? Minimizing dependencies, increasing efficiency, differentiation, increasing innovative strength, increasing loyalty - I've already mentioned these topics. If you're interested in delving deeper into the topic of direct-to-consumer, we've already held a webinar on the subject. It's available on demand on our website. You can watch it again at any time of day or night and delve a little deeper into the topic of direct-to-consumer. We want to move on to the next topic.

What do we mean by that? In our definition, conversational commerce means designing the interface to the customer through voice interfaces and commerce naturally has a certain proximity, the term then, to direct sales. This means designing the purchasing process via voice interfaces. But what we mean here is definitely a broader definition. For example, the topic of machine-to-machine ordering. There are various models in which I can use apps to control what should be in my fridge, and if there is no more milk in the fridge, then the fridge orders it, or the app orders it, or the replenishment system automatically orders a product. In other words, I no longer even have a person who initiates a purchase by voice, so to speak, but instead a purchase is initiated directly from machine to machine, from tool to tool, from software to software. But of course, conversational also means the customer's interaction with a voice interface, with a smart speaker, with a smart assistant, but also with a mobile or smartphone. And there via the voice interface. We see a huge trend there, a huge significance, and we assume that in the next few years a great many customer interactions will be controlled exclusively via voice. Why is that? It is simply the most natural form of interaction. It is the most convenient way, so to speak, of obtaining information or buying products or solving problems. And in this respect, we believe that many devices that are already digitized today, but also devices that are not yet digitized, will be equipped with voice interfaces to ultimately enable direct dialogue. That is a trend. Gartner speaks of hype cycles. It is certainly not yet so far advanced that we have already reached market maturity in all areas. But what we can already see today is that a very large number of search entries are being made via voice, for example.

This means that anyone who deals with SEO, for example, must automatically include a voice strategy in their SEO strategy nowadays. And as I said, in product development, we are seeing more and more natural language input as a very important aspect of interaction between the customer and the device or directly with the company. What we see there is that this is not just a technological drive, but that there is already a very, very high level of acceptance among respondents today. In other words, if we go through the statistics, we can already see that around a third of consumers say that voice control in a wide range of applications is actually the type of dialog or interaction they prefer. Another interesting aspect is that we have now talked a lot about customer contact points, so to speak, and the question of selling products and services. In other words, the question: how do physical products or services get from the company to the customer? And I would say that we actually see two main trend clusters here.

One trend cluster is the bridging of the physical world, so to speak. This means that physical products have to get from the company to the end consumer, but also to the business customer. We are seeing significant innovations there. Both in the direction of inbound-outbound logistics and warehousing in companies to increase efficiency. But, and I think this is almost the more important trend, the consideration: How do I create logistics systems that have a positive impact on the customer experience. And how can I use logistics to differentiate myself from the customer, so to speak? The big challenge we have there is that we are interacting with competitors who have such a significant innovative advantage that, on the one hand, companies have to consider how to make use of this advantage by selling products via Amazon and the like, of course. But we also have to develop our own concepts, together with partners perhaps, in order to achieve a similarly positive customer experience. If we look at China, 100 million parcels per day are delivered to the end customer there in terms of logistics. 70 percent of these 100 million parcels are delivered same-day. Ordered today, delivered today. In Germany, we are still a long way off that in Europe.

There are enough innovations in this area. It's not about: Is the technology already there? Rather, A, the adaptation of this technology is there and, to some extent, the regulatory framework is already in place. And regulation, apart from the colleagues who are now coming from the legislative branch in the webinar, but the regulation is also there to a certain extent. But at least the adaptation of this technology, i.e. actually doing what is possible, there is certainly still potential for action.

The second thing we are seeing is the digital service world. That means the digitalization of products. And the driving force there, so to speak, is dematerialization. This means that we live in a physical world and will continue to do so in the future. But what we are already seeing today is that this physical world is very, very strongly supported by digital services and products, and in some cases a significant value contribution or benefit contribution is only made by the digital product. Let me remind you of the topic of sports shoes and fitness trackers. And here Adidas, Nike and co. have not only managed to establish a direct-to-consumer approach very, very successfully by combining the physical product with the digital product, but have also generated a significant customer login. In other words, the switching costs of a customer from an Adidas sneaker to Nike for their next purchase have simply become significantly higher. This means that I can also use digital products and services to strengthen customer loyalty in order to innovate and develop the relevant digital services. This also requires the corresponding business models and the corresponding considerations to develop these business models. At this point, I would like to hand over A, have a drink and B, for the occasion, to Felipe, who will further develop this model of dematerialization and the connection between the physical and digital worlds in the subscription economy. Felipe, your stage.

Felipe Kaiser: Exactly. The subscription economy has been popular for years. It's not exactly something new, but digitalization means that completely different areas can be offered as subscription models. And companies, in the USA for a long time now, but also increasingly in Europe, are jumping on this bandwagon and trying to offer their product range in a new distribution channel, so to speak, and thus generate more revenue. A classic distinction can be made between content subscription models and physical products. You're all familiar with classic content, such as Netflix, Amazon Prime or Sky Sport. In principle, the user pays a monthly fee and can access content from the companies in return, such as live streaming or live broadcasts. Physical products are now something that has grown strongly in Europe, especially in recent years. You've probably heard of companies like Hello Fresh, which regularly send cooking boxes to their customers. And they can also get to know their customers better. This is something that can be very attractive for companies. The data that can be collected with such subscription models, yes, customer insights.

Another attractive point is, of course, that companies can plan their revenue much better. And this also ensures long-term predictability. Amazon Prime is a good example of how successful this can be. Statistics show that Prime members spend four times as much money on Amazon as non-Prime members. In other words, this approach to customer loyalty pays off. As you can see here, the market size for the B2C subscription market in Europe is around 350 billion euros, which is a huge amount. And the growth rate of the global subscription economy is 17 percent. And you can imagine what new models will be added in the coming years. Today, it's already starting with subscription models for cars, where customers are moving away from the desire to own and more towards the desire to use. This means that young people no longer want to make large purchases such as cars. And it is enough for them to use a car subscription in order to still have access to the benefits, but the negative aspects of ownership are eliminated. Yes, and as you can see here, there are 7000 subscription box companies worldwide. That's a lot. That's why German companies in particular need to develop business models to make it possible to offer existing products, or perhaps new products, as subscriptions.

That would take me straight on to the next trend: Connected products and IoT. The Internet of Things connects physical objects with the virtual world. Intelligent devices and machines are connected to each other via the internet and can send signals to a smartphone, for example, via sensors. A classic example is the smart home. The sensors detect that it is cold. The control system in the house turns on the heating and everything is automated. This is, of course, a very large area of application that you may already have come into contact with. Other applications of the Internet of Things are of course warehouse automation, as Albert just mentioned. It's a huge topic in logistics as a whole. How drones and robotics can communicate with each other, be controlled and carry out deliveries efficiently. Other areas of application include lifestyle and entertainment. And a really big area, especially in the future, is autonomous vehicles. And, of course, personal fitness is also a trending topic at the moment. At the moment, there are an extremely large number of providers offering networked devices, fitness wristbands and the like that use sensors to monitor the user's performance and thus check the health of customers or users.

Of course, this also has an impact on insurance companies and health insurers, who can use this data to send customized insurance policies to the users of such products. You also have to imagine that there will be ten billion networked devices worldwide today or by the end of 2020. And by 2025, this figure is set to rise to 22 billion devices. This shows how strongly this market is growing, which is of course also reflected in sales. Sales are set to triple by 2030. And this of course has a lot to do with the technological progress of autonomous driving. But as I said, it is also an absolutely relevant topic in the consumer environment. We at diva-e also have expertise in this area. And we have an internal IoT lab. But if you still want to find out more about this topic, there is also a webinar, if you click on it, that will take place on Wednesday, October 28 from 3 pm. IoT Ideation, which is really about how to develop IoT business models using creative methods. A very exciting topic and our experts would be delighted to share their knowledge with you. Please continue.

Albert Brenner: Exactly. Then, very briefly, to another exciting topic: blockchain. Ultimately, we are probably all familiar with the term from the field of digital currency, Bitcoin, Ether and co. There is currently a great deal of discussion and effort being made to ensure that the European Union, i.e. the monetary union, also develops a stable coin based on the euro, so to speak, and the USA a stable coin based on the dollar, and China and other countries also develop Bitcoin-like currencies, i.e. blockchain-based currencies based on their own existing currency. So that in a few years we will also be able to process our transactions in the digital space with a blockchain-based euro. I think that's interesting so far. Some people are looking into this topic.

I actually find two topics that I would like to highlight more exciting. One is the topic of supply chain management and goods flow management using blockchain. Blockchain helps to ensure the tracking and tracing of goods flows. This is highly relevant in many industries, be it organic products, the fashion industry or the chemical industry. In other words, which raw products, which ingredients, so to speak, have been altered at which points in the supply chain and how? And this can be managed very, very transparently and efficiently via a blockchain. And that is also an application of blockchain that is already a reality in some industries today. Another topic is banking and financial services. In other words, the digitalization of financial products. I don't want to say it's surprising, but fortunately the German government really is one of the world's early adopters. Through its regulation. Since 1 January, we have had a law that enables the digitalization of bonds in a regulatory-compliant manner, so to speak. And there is a draft law, at least a draft bill, which enables the digitalization of equity, i.e. the digitalized share, you could almost say. And if this bill goes through, it will mean that companies will no longer be able to divide their equity into shares, so to speak, which can then be traded accordingly. Instead, they will be blockchain-based models. And what that means for the entire financial system, for stock exchanges, is highly significant, highly relevant. And that's why the topic of blockchain is not only a hot topic in supply chain, but also in the financial industry. But there are many interesting applications for blockchain in other areas too. And in this respect, I would like to make a plea at this point. The reservations that people may have about this technology from the dirty area of bitcoin, the issue of money laundering and the like, should be opened up to this technology and considered: How can blockchain also make a beneficial contribution to my business model? So. And the topic of digital data naturally leads us directly to the topic of AI and data analytics, Felipe. And you would like to tell us something about this.

Felipe Kaiser: Exactly, yes. Artificial intelligence is an absolutely important trend these days, and one that is becoming increasingly important. In principle, artificial intelligence is an umbrella term for applications in which machines perform human intelligence. You've probably heard of machine learning and deep learning, which are simply subcategories of artificial intelligence. And of course they are based on data and algorithms. Companies recognized this early on, of course. Many companies are already using this, primarily to improve the customer experience or reduce costs. But also, above all, to generate and analyze data. Mainly from partners and customers. As you can see here, 37 percent of all companies worldwide already use AI in some way. This is particularly interesting for digital companies, where 80 percent of companies are already planning to use it or are certain that significant sales growth can be achieved through the use of AI. The next slide, please. Exactly. You can also see from this figure, 250 billion, the market in 2025, with an average growth rate of 55 percent per year, that the topic is becoming increasingly important, especially in companies, but also in private life. The autonomous vehicle industry, which is of course driven by AI and is built and based on it, also plays a very large part in this. It goes without saying that German companies are understanding this more and more. And consider artificial intelligence to be highly relevant to their business model.

In Germany, however, artificial intelligence is still mainly used for advanced analysis tools. It is not yet used in companies to the same advanced extent as in other companies around the world. You can also see this in the chart on the right, where AI is used in Germany. And you can see that IT is far ahead with 39 percent. But from our point of view, the fact that customer service is only at eleven percent is somewhat negative. In a global comparison, if you look at the next slide and see how pronounced this is here, it has already been recognized that the potential of data usage lies primarily in the customer interface. And here, German companies simply need to better understand that data is a capitalizable asset and that AI should be used much more in the customer interface. As I said, the maturity level of German companies in terms of data analytics and automation is also very low and the corresponding approach is lacking. And it needs to be implemented much more strategically in these companies.

Another point is, of course, that there is a lack of specialists for this kind of thing in Germany and the know-how is not quite there yet. This needs to be built up urgently over the next few years so that data can be used in the same way as large companies in the USA are already doing today. That's why I'm also making a plea, so to speak, to promote this more strongly in companies and also to train people in it. We can offer you more detailed information about this in three on-demand webinars. One is Data Drive Excellence. In other words, how can a company break down data silos and use the data from them. Then a very practical webinar in collaboration with Ravensburger GmbH on how data-driven marketing was introduced. The webinar provides a first-hand account of how this was implemented. And then another webinar on data-driven marketing and business, on how this can be implemented in business and used for marketing. So please stop by, there is good information there.

Albert Brenner: Yes, thank you very much, Felipe. Now, of course, the question is, we've heard a lot about digital trends: how can I use and adapt them for myself? And I would like to briefly present a framework and a method that you can use to identify them for yourself: Which digital trend will have what kind of significance for my company in the future and how can I respond to it? It is important to react to this. Because digital trends are not only changing business models from a defensive perspective. If I am not aware of this, then I will have a problem in the medium term. But also by recognizing trends early on and what impact they will have on the micro- and macroeconomic environment, on your own company, customers, processes and products, those who recognize these changes early and quickly can achieve significant value growth. Now we have taken a bit of a speculative example. With Bill Ackman.

But this certainly applies to all sectors and all issues. How can I do that? The first is: where do I look for digital trends? And as we have just seen on the subject of AI, an important driver is digitalization from the customer's perspective. This means that the adaptation of digital trends among your own clientele, among your own customers, is often higher, faster, deeper and broader than in your own company. In other words, the question of how digitalization will change my customers and their customers and how I have to adapt to it, so to speak, and how I can react to it, is a question that we should ask ourselves. The second is: How is my market, my surrounding market and competitive environment changing? How are the framework factors of my market changing, so to speak? And here, too, digitalization is bringing about significant changes, as we have previously seen with blockchain, for example, and what we have seen with IoT and networked value chains. This is another area in which I have to focus, so to speak, in order to identify the relevant digital trends. And the third, and often the most obvious: what technology trends are there? I mentioned the Gartner Hype Cycle earlier. It allows me to look at technology trends and their level of maturity, so to speak. And here, too, it is necessary and useful to take a look: Which technologies have what level of maturity? And then to deduce: How will these technologies change customers, the market, products and services in the future? One method that can be used here is a method from futurology. It's called foresight. And this is ultimately about a kind of strategic preview, a strategic anticipation of what the world will look like in the future and how I will or can move in this possible future world. In concrete terms, this means: what will my company, my markets, my customers, my offerings in these markets look like in the future? And there are three key tasks that need to be accomplished. One is understanding. That means observing precisely these trends that we have just discussed. Secondly, to forecast these trends into the future. And to describe future worlds.

In other words, how will these trends have changed my industry or the market relevant to me in the future? What will this market look like in five years' time, in 2025? And then to consider and discuss scenarios: If this world, if our market, if our environment will develop in this direction in five years' time, how can we respond? What reaction scenarios can we adopt? And then to agree on a scenario based on this. And to say: We believe that this scenario for this future world is the most profitable scenario for us, so to speak. And then to design the strategy and measures accordingly in the direction of this scenario, we often speak of a target image. Developing scenarios or future worlds is something we don't do every day. And it's a separate method that I have to learn and apply. And we have brought an example here. And this example describes a world in the year 2030 that will change in two dimensions from our world today.

One dimension is centralization and decentralization. Can you imagine that in 2030, Germany will be a highly centralized state? Keyword perhaps China. A very strong leadership, a very strong centralized structure. Or the other alternative, Germany is a highly decentralized country. Or my market is also a decentralized structure. In other words, federalism to the power of ten. I have very independent, fragmented structures. Another dimension of economic systems, it's an old economic system. A social market economy, as we understand it today. Or a new economic system. So. Let's not go into depth at this point. I just want to show that I can describe completely different worlds on the basis of two dimensions. And it's a very, very exciting exercise to then think about it: What will my company look like in one of these worlds? And we do this very often with our customers, together with our foresight experts. And the exercise is then to form a world again from these very different worlds, so to speak. Because we won't be living in four worlds in the future, but in one. That means deriving a scenario from these scenarios, which are described in these very polarized future worlds, which is a suitable scenario for my company from today's, so to speak, foresight for the future. In other words, how I develop into which target image in the future. There is a great deal on the Internet about the foresight method. And we believe that it is a very exciting and very helpful method for making digital trends and how they will change my business in the future tangible. And then to derive very specific options for action. Felipe will briefly explain how we go about this.

Felipe Kaiser: Exactly. We have now looked at the trends, we know which trends are relevant for our business and for our business areas. We know our customers, our market. But now, of course, the question is: how do we proceed now? As I said, we have developed this process model for this purpose. Which has already helped many companies in practical implementation. After this analysis, it is of course important to position yourself strategically and develop a digital target image. Of course, you have to define where you want to go. Where do you want to be in 2030, for example? What is the vision for the company and how do these trends play into it? Of course, this can only happen if you define guidelines or guiding principles that help the company and its employees to achieve this goal. In other words, how do we act as a company, how do we want to appear to the outside world? What do we want to achieve? To get there from where we are now, there is naturally a gap. We have to close this gap. We do this by deriving the fields of action into a digital roadmap. It is very important to develop a structured project plan that lists the measures and fields of action to achieve these goals.

And then, of course, once that has been done, it's a matter of strategic planning and operationalization. Operationalization is of course the most difficult part. And it also takes the longest. This is where change management must be initiated and transformation management must be implemented in the organization, if it hasn't already been done. In order to implement the digital roadmaps and ultimately achieve the 2030 target. We recommend this approach. And Albert will now summarize the key takeaways from today in the next slide. And what tips or recommendations for action we can give you as diva-e.

Albert Brenner: Exactly, thank you very much, Felipe. Recognizing trends. We have tried to make a contribution to this with today's webinar. In other words, which trends will influence my business, so to speak. And how to develop scenarios from them. In other words, how can I react to this future world that is emerging from the trends in these different scenarios? And that is also a process of discussion, coordination and ultimately an entrepreneurial decision at the end of the day to define a target image. And then ultimately to initiate a strategy process in order to achieve this target image. Very importantly, this is an agile approach. This means that, in principle, I have the permanent task of monitoring these trends. To see: Are there new trends that are changing my target image, so to speak? Are the trends changing? Have my assumptions with regard to these trends perhaps not been correct or are the framework factors changing, so that perhaps a different scenario that had once developed is becoming the new target image. In other words, it is a dynamically circulating process. The trends are not a static consideration, so to speak, but should be a permanent task in the company. To consider these trends, which we have presented in excerpts today, and to think about them: Which horse can we back? In this sense, I hope that we have been able to make a small contribution to the process. The webinar is available to you. We've also developed a white paper on it, which is available to download from the website. Angela, but before we do that and communicate the link there, I think we have a few minutes for Q and A.