In 2011, The Economist hosted its inaugural “Ideas Economy: Information” summit, bringing together path-breaking entrepreneurs with pioneers of data science to discuss how big-data affects governments, businesses, and individuals--and how to make sense of the data deluge. With greater understanding of how big data is changing the world and why it matters, we now begin to apply sharp thinking to how data can be better leveraged to ensure lasting economic progress in the coming decades. Specifically, we are convening a conference to explore the next generation of smart systems—the networks of chips, sensors, wireless technologies and intelligent software—that are converging to link the physical and virtual worlds and transform the global economy.

 

The evolution of smart systems presents incredible opportunities—stronger companies, faster medicine, and safer neighborhoods—but just as many challenges. Privacy, security and intellectual-property protection are perpetual worries, made even more challenging as more data are sent all over the world and through ever more people and machines. Without intelligent planning and successful partnerships, these can create huge problems for individuals and companies as well as regulatory challenges for governments. And even well-designed systems are vulnerable to technical breakdowns. As we enter the era of smart systems, this conference will examine the promise as well as the perils, and propose intelligent solutions to each.