:00:15. > :00:21.Will we be replaced by robots? The world economic forum discusses how
:00:22. > :00:27.the next industrial revolution will change the global economy. And how
:00:28. > :00:31.the bauxite mining boom in Malaysia takes a toll on the environment - we
:00:32. > :00:38.speak to a local politician about his concerns -- World Economic
:00:39. > :00:43.Forum. Hello, world, good morning, Asia, glad that you can join us for
:00:44. > :00:49.this edition of Asia Business Report. Business leaders from around
:00:50. > :00:54.the world are gathering in Davos for the world economic forum. The thing
:00:55. > :00:59.is the effect artificial intelligence will have on the world
:01:00. > :01:01.of work and as we report, many companies have to rethink their
:01:02. > :01:09.approach to getting the job done -- World Economic Forum. Robots have
:01:10. > :01:17.arrived in Davos. This is from South Korea, World Economic Forum, Hubo,
:01:18. > :01:20.embodying the fourth industrial revolution. Hubo is being told what
:01:21. > :01:23.to do but many big thinkers see an age already dawning in which
:01:24. > :01:31.machines will make their own decisions. Summit strange things are
:01:32. > :01:35.happening. -- some strange things. If you walk down the street and you
:01:36. > :01:38.see someone talking to the phone, they are likely talking to a
:01:39. > :01:43.machine, not another human, which has never happened in human history
:01:44. > :01:46.before, the ability to talk to machines, which are beginning to
:01:47. > :01:51.recognise objects in images, diagnosing diseases like cancer and
:01:52. > :01:54.others. That is something that is quite remarkable and that has
:01:55. > :02:00.transformed the world. So, what will this mean for how things will get
:02:01. > :02:03.done in the future? And, how companies will need to change, how
:02:04. > :02:08.they manage their biggest asset, their workforce. I have never been
:02:09. > :02:11.more excited about the future and at the same time I have never been more
:02:12. > :02:16.scared about the future. Cannibalising your business to be
:02:17. > :02:20.able to change fast enough, and being able to skilled people, or
:02:21. > :02:26.being able to have a ready workforce which can take advantage of these
:02:27. > :02:29.opportunities, that is where my challenges are -- skill people. The
:02:30. > :02:33.task over the next couple of days in Davos is to hammer at what skills
:02:34. > :02:39.workers will need to stand the test of time. Bear in mind that computers
:02:40. > :02:45.can learn some things much faster than humans. We are not just talking
:02:46. > :02:50.about robots replacing people in the factory line and so on. We are
:02:51. > :02:52.talking about the incursion of artificial intelligence for the
:02:53. > :02:58.first time in a big way in all of those professional skills and
:02:59. > :03:03.qualifications, in the professions so-called, whether in health, legal,
:03:04. > :03:06.accountancy and finance. In other words, don't be fooled into thinking
:03:07. > :03:13.something needs to look like a robot in order to take your job. Robots do
:03:14. > :03:16.appear to be increasingly able to handle tasks which involve
:03:17. > :03:22.collecting information and then responding to it. But there are some
:03:23. > :03:25.things that still require that human touch Tom alike, for example, how
:03:26. > :03:35.you like to be served your cocktail. Thank you. -- that human touch,
:03:36. > :03:38.like, for example. And, at the forum, Tanya spoke to the president
:03:39. > :03:43.of the biggest search engine in China, asking him if he is worried
:03:44. > :03:51.about slowing Chinese growth. The GDP growth rate is 6.9%, which is
:03:52. > :03:56.actually impressive for a large economy. You know, China, it is
:03:57. > :04:02.about $10 trillion. Obviously it has slowed down quite a bit from a
:04:03. > :04:08.couple of years ago, but overall it is bullish in the long run. If you
:04:09. > :04:14.look at a couple of sectors, customer spending and services, it
:04:15. > :04:20.is doing pretty well. And also the sectors have to do with Internet are
:04:21. > :04:28.doing well. So I expect China to go through this difficult stage weekly
:04:29. > :04:31.in the transition, but in the long run it is doing well. And you
:04:32. > :04:39.interact with consumers a great deal and so you would have inside Astro
:04:40. > :04:44.how tastes are changing. So far there are two factors, one is the
:04:45. > :04:49.overall service and consumer sector, the other is the speed, moving from
:04:50. > :04:56.off-line to online. We have seen quite healthy state in both
:04:57. > :05:03.directions. For the last quarter, the growth rate was over 30%. And
:05:04. > :05:09.also, if you look at China, lots of investment in technology and
:05:10. > :05:13.innovation is beginning to pay off. I don't know if you have been to
:05:14. > :05:19.Beijing before, but if you walk the streets of Beijing, there are lots
:05:20. > :05:24.of entrepreneurial activities, and start-up companies are changing
:05:25. > :05:27.essentially the industry. The International Monetary Fund has cut
:05:28. > :05:33.its outlook for global growth for the third time in less than a year,
:05:34. > :05:37.starting the slowdown in trade in China and weak commodity prices. The
:05:38. > :05:46.forecast that the world economy will expand to 3.4% in 2016 is down from
:05:47. > :05:49.3.6%. BHP Billiton cuts the iron ore production forecast from June,
:05:50. > :05:52.reducing the estimate 10 billion tons. The company sees no recovery
:05:53. > :05:59.in iron ore or call prices over the next couple of years, though it is
:06:00. > :06:05.hopeful for a rebound in copper and oil. Malaysia has a temporary ban
:06:06. > :06:10.over bauxite mining. It is a key component in aluminium, which is in
:06:11. > :06:13.huge demand in China. Ivan had spoke to an opposition state legislator
:06:14. > :06:14.who is worried about the environmental impact and asked him
:06:15. > :06:19.whether there are environmental impact and asked him
:06:20. > :06:22.whether there -- whether the government listen to their concerns.
:06:23. > :06:29.They have but they are not doing enough. I started raising the issues
:06:30. > :06:34.in early 2014. That was when this bauxite mining exploded. Yes. The
:06:35. > :06:40.middle of 2014 it exploded. The environment has become more and more
:06:41. > :06:46.polluted during that time. I talked about it again in the middle of
:06:47. > :06:51.2014. We are still talking about what is the action from the state
:06:52. > :06:57.government, the authorities, in order to curb these issues. Do we
:06:58. > :07:02.actually know what the environmental damage is from this bauxite mining?
:07:03. > :07:07.There are many aspects that have been damaged by this bauxite
:07:08. > :07:11.industry. Number one, all of the infrastructure, the roads, signage,
:07:12. > :07:17.because of the trucks. The rivers have been polluted, with all of the
:07:18. > :07:22.contaminants from heavy metals, from the toxic and so on. As well as
:07:23. > :07:26.recently, the sea, because rivers flow to the sea. The same for the
:07:27. > :07:31.drinking water of the people. We are taking water from the river for
:07:32. > :07:36.public consumption. All of this damage has been done by this bauxite
:07:37. > :07:40.mining. In terms of benefits. I mean, obviously, some people have
:07:41. > :07:45.made a lot of money. If we think about the numbers. If you export a
:07:46. > :07:53.20 billion tons come that is worth about $900 million. Who got rich
:07:54. > :07:56.here? Exactly the people that operating and involved directly with
:07:57. > :08:01.bauxite mining is the people that getting richer and richer. The state
:08:02. > :08:11.is not. Not even $10 million have been collected by the state for
:08:12. > :08:17.2015. Jonathan Head. Writing a talked to raise for charity is not
:08:18. > :08:22.an obvious use for the three wheeled scooters popular in Asia -- bauxite
:08:23. > :08:26.in its work for one group which has raised funds to help rural
:08:27. > :08:31.communities in India and Sri Lanka. We look at the business of getting,
:08:32. > :08:44.catching up with the founder of Tuk Tuk. -- Pimp My Tuk Tuk. Pimp My Tuk
:08:45. > :08:49.Tuk started back in 2013. Initially it was an idea for one of my
:08:50. > :08:55.friend's 50th birthday. So, we were in a bar discussing what to do and
:08:56. > :09:00.he decided he wanted to drive or ride tuks tukjs across India. All of
:09:01. > :09:03.the guys are in Asia -- tuks tuks. We just thought that we have
:09:04. > :09:08.everything and there is no point, we have as much as we want, so why not
:09:09. > :09:12.we do something to help, to give back and make a course out of the
:09:13. > :09:18.trip? We raised $100,000, Singapore dollars, and we built a four
:09:19. > :09:24.classroom school in Chennai. It was such an eye-opener. Visiting these
:09:25. > :09:28.countries on a grassroot level, places that not spots, was such a
:09:29. > :09:33.fantastic trip. The buzz and the energy and giving back just meet
:09:34. > :09:37.everybody's mindset change completely. So, about a month after
:09:38. > :09:42.the trip from India, we have sort of thrown the idea out, shall we start
:09:43. > :09:46.it again? Three of us got together and sort of co-founder the whole
:09:47. > :09:49.Pimp My Tuk Tuk into the bigger picture that it is now. Naturally we
:09:50. > :09:55.just moved across the globe and the next country along that had tuks
:09:56. > :09:59.tuks was Sri Lanka. Then we found a foundation, Foundation of Cattina
:10:00. > :10:02.goodness, which we partnered with -- tuk tuks. The team and writers are
:10:03. > :10:07.dedicated people and they are passionate about what we are doing.
:10:08. > :10:10.-- riders. Hopefully we get bigger and better, the numbers increase and
:10:11. > :10:19.we can make some change somewhere in someone's life. And, before we go,
:10:20. > :10:25.here is a quick look at the markets, and what you can see right now on
:10:26. > :10:29.the market board is a mixed bag for both the Japanese and the Australian
:10:30. > :10:33.stock markets. This is after US equities closed mixed overnight with
:10:34. > :10:39.investors by jesting Chinese weak quarterly economic reports, with
:10:40. > :10:46.numbers strengthening more stimulus initiatives in Beijing. The Nikkei
:10:47. > :10:50.is down 234 points at this hour -- suggesting Chinese. Thank you so
:10:51. > :10:53.much for investing your time with us. I am Rico Hizon. Goodbye for
:10:54. > :10:58.now.