This morning the Battenhall team attended the FT-Telefónica Millenial Summit at The Royal Opera House in Convent Garden. This summit was put together to present the findings of the largest and most comprehensive study of adult millennials conducted to date. One of the key facts extracted from this research is that 80 percent of 18-30 year olds believe technology has made it easier to overcome language barriers and get a job. Overall 44 percent of millenials think technology has had an effect on their lives in all fronts.
Of the 12,171 individuals questioned during the survey, around 79 percent of europeans said they owned a smartphone – higher than the global average of 76 percent. Millenials truly are a smartphone generation. Opportunities for entrepreneurial individuals have never been better, however with all these opportunities there are still staggering issues in the digital world. 62 percent of respondents said that technology has widened the gap between rich and poor, even more concerning is that technology is creating a gender gab with millennial men considering themselves more at the cutting edge of tech than women.
If the issues of today’s world aren’t enough, than it is tomorrow the respondents are concerned about – 63 per cent say it is difficult for their generation to progress from school to the workplace and 39 percent feel they will not be able to retire, and will need to continue working through their elderly years. This study clearly outlines some dire issues that must be solved. But what of the good news that has come from this study?
Of all the respondents asked, around 70 globally believe they have entrepreneurial opportunities because of technological advances and 11 percent of millennial leaders will drive change solely through technology – an exciting and promising number.
José María Álvarez-Pallete, COO of Telefónica explained his own perspective of the research findings, expressing that there should be a great focus on Millennials because they “have the next great idea not just for changing the world, but for for changing their neighbourhood – both important missions.” As more technology filters across the globe, it will become an essential feature to developing countries particularly through mobile and tablet devices.
In his address, José María Álvarez-Pallete explained that technology can create great opportunities if realised by governments and influential decision makers. His own belief is that the possibilities of technology should be open to everyone, but that there is work to be done before this is possible. Álvarez-Pallete continued to dissect some of the key CSR projects Telefónica is driving to encourage a generation of leaders and entrepreneurs, Wayra and Talentum.
Wayra – Telefónica’s startup accelerator programme was created to nurture some of the best tech ideas and talent within them. The programme now exists in latin America, the Czech Republic, Germany, Ireland, Spain and the UK. Battenhall works closely with Telefónica as the official brand communications & PR consultant of Wayra. To find out more about Wayra, visit Wayra.org.
Talentum – by creating jobs and digital learning opportunities for young people and university graduates, Telefónica is advocating the youth and technological power of Europe, investing in the talent and potential of young individuals. To find out more about Talentum, visit the Talentum microsite.
To find out more about the FT-Telefónica Millennials survey, visit the microsite at telefonica.com/millennials.