at a great speed. up until yesterday we used physical databases, and today we use blockchain technology. from atms we switched to user service based on artificial intelligence. transactions which took days, are now implemented in real time. all of this is saving time as the most precious resource. and it is a huge potential for the coming period. dear colleagues, in the end, i would summarise, in a slightly different way, the challenges, but also the opportunities. a popular topic, which is discussed almost fatalistically, is the " green agenda ". however, climate challenges are not new, only the awareness that we have lost precious time has increased. threats to the environment simmered in both the 19th and 20th centuries. however, history has destined us to solve them strategically, which involves the banking industry and central banks, and there is no substitute for regional cooperation! digitalisation has been talked about almost fatalistically lately. there is no doubt that digitalisation brings enormous potential for progress. however, new technologies also bring us new risks such as cyber security, data protection or the concentration of market participants. and as responsible market regulators, we have to take care of that. policy - making in the era of fake news is also a challenge as fake news can make difficult the process of managing expectations which are an important channel of policy transmission. challenges arise also when individuals think that policies can be run via social media, individuals whom i call " advisors without skin in the game ". it is our duty to continue making decisions based on data and in - depth analyses, aware at the same time of the importance of the words we use. today, transparency is one the important features of central bank's work, and we want our decisions to be understood and we want to serve citizens in the way they deserve. what lies ahead is the period of building up our knowledge base by continuous reviewing of the effects of our policies and actions, as well as the increasing use of artificial intelligence that must be managed by man as the one who has created it. these are important lessons for the future. still, investment in people, cooperation and diversification remains the best investment in the future! i have always believed that the greatest value is to be a friend to a friend. and i don't want anyone convincing me that friendships don't exist and that that there are only alliances based on interest. isn't our interest cooperation and survival? it is. we shall exist

radovan jelasic : promoting achievements, inventiveness and commitment in serbia speech by mr radovan jelasic, governor of the national bank of serbia, at the promotion of the tv serial “ big small business ”, directed by olivera milos todorovic, belgrade, 30 january 2008. * * * ladies and gentlemen, i warmly welcome the idea of a tv serial promoting achievements of small businesses in serbia, and still more so, promoting what seems to be the key to success – determination to take life into one ’ s own hands, inventiveness, commitment and unrelenting effort to improve yourself and achieve more day after day. i am sure that the stories of those who mustered the courage to quit their jobs in state enterprises and venture out into the world of private business will encourage many people in serbia to do away with the deep rooted belief that the state is bound to provide each and every person with a well - paid job, and that all you have to do is wait long enough for the employment bureau to call you. i hope these stories will encourage them to have confidence in themselves, to trust their intelligence, ability and creativity, just as the protagonists of this tv serial did and, finally, made it. it is a particular pleasure for me that the author, shockart production and television studio b, supported by the european agency for reconstruction, decided to show that there are positive processes in our society that lead to change and better life. in this respect, the media have a special role, both in terms of education and social responsibility. unfortunately, nowadays we are flooded with examples of the worst things in our society, as if there were nothing else in serbia apart from political intrigues, financial affairs or deaths and accidents. it is clear that most of the media focusing on these topics are only looking for higher rating or circulation figures. it practically boils down to the following : the more you slander, often even by publishing the most disgraceful lies, the easier it is to beat your competition. i am convinced that much of our people ’ s discontent – regarding both the speed of change in the society and one's perception of chances of success in the process of transition – is media shaped. in such an environment, tv serial “ big small business ” seems more valuable as it shows that right here, although not shown in the media, there is quite a different serbia, represented by individuals who are daring and know how to work, create