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CIMB-UUM Chair Professorial Lecture Discusses The Issues Related To The Implications Of Society 5.0 On The Society
Kuala Lumpur - CIMB-UUM Chair Professor, Prof Dr Jonathan A. Batten delivered a public lecture entitled, Society 5.0: What Are The Implications For You?' at the PNB Perdana Hotel & Suites On The Park.
The lecture which was jointly organised by UUM and CIMB addressed the issues of the formation of the smart community culture (Society 5.0), a Japanese transformation policy that emphasizes on the need to integrate humanitarian features into the use of technology in every aspect of people's lives.
Prof Batten in his lecture said the main goal of Society 5.0 was to create values in tandem with technological advancements that would foster community well-being.
According to him, in order to become a smart city, the existing ecosystem must support human solutions such as solutions to issues related to economic and social inequality, sanitation and health.
In this regard, he said, the smart city should implement strategies that go hand in hand with broader social goals such as the Sustainable Development Goals (SDGs) and the United Nations (UN).
In addition, he also talked about the key strategies for saving the earth and initiating change among people one step at a time.
Among the key strategies presented were the 17 UN Sustainable Development Goals (UN SDG), the Industrial Revolution 4.0 (IR4.0) business and Society 5.0, the banking system of the 21st century and the current as well as the important roles of individuals and financial institutions.
He said the UN SDG, IR4.0, Society 5.0 provided a strategic context for transforming into a smart society in the future through the implementation of transformative strategies that had strategic, policy and organisational implications on finance, institutions and individuals.
"These strategic implementation factors, policies and organisations include sustainable future investments (example: renewable energy), more responsible investment financing (example: Green Finance) and managing risks related to assets and liabilities (example: Carbon Trading Climate Derivatives)," he said.
Meanwhile, the Dean of UUM School of Economics, Finance and Banking (SEFB), Prof Dr Russayani Ismail said the series of public lectures were targeted at stakeholders related to the current national agenda. The talk was also aimed at exchanging intellectual ideas while serving as a platform to enhance the academic-industry network.
She said through the CIMB-UUM Chair, cooperation between the two institutions could be further strengthened, whilst expanding the knowledge base especially in research related to finance and banking.