ING Group

The corporations on our annual list of the world's 500 largest companies combined to generate $41.7 trillion in revenue over the past year.

Fortune Global 500

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The European edition of the Fortune 500, ranking companies by revenue.

Fortune 500 Europe

The corporations on our annual list posted aggregate revenues of $41 trillion for the second year in a row.

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

The first-ever European edition of the Fortune 500, ranking companies by revenue. 

F500-Europe-2023-ING

The Dutch multinational banking and financial services institution headquartered in Amsterdam has a strong European presence and serves over 37 million customers, clients, and institutions in 40 countries. The bank enjoyed a strong financial performance in 2022 as revenues increased 42% to $48.1 billion due to rising interest rates, while net profit increased 81.3% to $12.8 billion.    
<ul> 
 	<li data-leveltext="●" data-font="Verdana" data-listid="103" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Verdana&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;●&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" data-aria-posinset="1" data-aria-level="1">The trend continued into 2023, despite worsening macroeconomic conditions. Net interest income increased 20% in the first half of the year compared with the same period the year before.  </li> 
 	<li data-leveltext="●" data-font="Verdana" data-listid="103" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Verdana&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;●&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" data-aria-posinset="2" data-aria-level="1">In May 2023 ING announced a share buyback program with an estimated value of up to €1.5 billion ($1.6 billion), with the stated aim of reducing its CET1 ratio towards a 12.5% target.</li> 
</ul>

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

This year's Fortune Global 500 generated $33.3 trillion in revenues and $2.1 trillion in profits.

G500-2020-342-ING-Group

This year's Fortune Global 500 generated $27.7 trillion in revenues and $1.5 trillion in profits.

This year's Fortune Global 500 generated $27.6 trillion in revenues and $1.5 trillion in profits.

The world's 500 largest companies generated $31.2 trillion in revenues and $1.7 trillion in profits in 2014. Together, this year's Fortune Global 500 employ 65 million people worldwide and are represented by 36 countries.

Global business is back. After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013: They racked up combined revenues of $31.1 trillion, up 2.5% from 2012, and profits soared 27% to nearly $2 trillion. China’s 95 companies (up from 89 last year) posted $5.8 trillion in revenues. The U.S. has four fewer companies on the list than last year but remains (for now) the country leader, with 128 corporations on the list—including No. 1 Wal-Mart Stores—reporting $8.6 trillion in revenues. 

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Get insights into ING Group including business profile, stock information, news, and rankings from Fortune.

ING Group (ING): Company Profile, Stock Price, News, Rankings

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ING Group (ING): Company Profile, Stock Price, News, Rankings | Fortune

Sarah Jacob

Bloomberg

ING misses estimates as lending income declines, costs rise

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The Middle East has some of the highest youth employment rates globally, while nearly 60% of the population is under the age of 30. As a result, expanding education programs  and supercharging job creation is critical for the strength of the region's economies. A  playbook for how the public and private sector can work together to solve for these  challenges and unlock the region’s full potential.  

Unlocking Potential: Workforces For The Future

Conferences

The Middle East has some of the highest youth employment rates in the world. Nearly 60% of its population is under 30. Uh, with us to share what it takes to build an engaged workforce across generations is managing director and senior partner with Boston Consulting Group Leila Ho. Thank you for having me here. Uh, we live in a region that is packed with potential. More than half of the population is less than 35 years old. When we talk about the future of work, we're often hearing things like job job displacement automation anxiety. AI is going to take over our future roles. But what if we flip the narrative? What if instead of thinking about what we stand to lose, we talk about what we have the power to build? What if this, this is our opportunity to instead of trying to prepare the workforce to be ready for the future, to actually uh give them the confidence to build and shape the future. What we need to do is to ensure that we um that we help the youth achieve their full potential. When we look at the future of work, we see that there's industries that are shaping very quickly, reshaping new industries, industries that are that are disappearing, and in our BCG report titled The Next 50 Years of Work, we we identified some of those future sectors. And Alright So what you see here is regenerative industries. I'm gonna mention a few of those, regenerative industries. So these are industries which are going to reshape whether it is in manufacturing, in the urban infrastructure, in construction, in in agriculture and fishery, they would be completely reshaped using new material, using different processes to ensure that you're not just protecting the environment or protecting the economy or social society from harm, but actually regenerating nature, regenerating the economy, regenerating society. Another sector that is going to be very high on the agenda is the care-based economies, so the human to human interaction, the human to human contact, taking care of children, uh, the senior citizens, people of people of vulnerable groups, but also community at large, mental health and well-being of community at large. Um, we also see everything to do with play and creativity-based sectors, so which blend entertainment with learning, care, and art, including e-sports that are happening in the metaverse. When you think of all of this, you can see that there's so much labor abundance. We talk about labor scarcity and the worry about labor scarcity, but there's an infinity of possibility of what could be shaping the world in the future. And there's many more of these sectors that are going to grow, many more that are going to be shaped in the next few years, and it's our job to prepare our youth to be able to shape these sectors, to be the early adopters, to be the early adopters of the emerging skills. So when we think about these skills, what are these skills? So in the in the same report that I mentioned, we look at some of the key skills that are going to be emerging in the future, um. One of the first ones is existential capabilities. What we mean by that is the ability to have a mindfulness, emotional self-regulation, physical regulation, optimism, decisiveness, and as for all of you parents out there, I can tell you this is probably the these these are probably the most important skills that you can impart your kids in terms of role modeling in front of them. This is what's going to make them able to shape the future. Bionic skills and by bionic skills, we don't mean the ability to code because AI agents are going to be already coding for us. Bionic skills is the confidence to be able to command AI to command technology and robotics. Creativity, so imagination, expression, all of this will be critical in the world of the future for people to be able to contribute to solving. Uh, our biggest challenges again, human to human community and community skills, the communication skills and the influencing skills, the negotiation skills to ensure, to ensure that we can achieve collaborative problem solving together and solve our biggest challenges. And of course entrepreneurial mindset you've heard this, but every one of our youth should should have the courage to build ventures to create new opportunities and to create new jobs. And as we know, these skills are changing constantly. So what you see as a skill, so this is from the uh latest World Economic Forum Future of Jobs report and what this says is the from from today's skills that are identified as important for the future, 40. of them will be completely obsolete in 5 years' time, and that shelf life gets shorter and shorter as time goes by. For the Mina region, the situation is more urgent. 46% of the skills that you see today as important will be completely outdated in 5 years' time. And when we think about Saudi and we interviewed employee employers in Saudi, what they said is over 70% said we need tech literacy now in our youth. We need, we need tech literacy, we need them to know how to work with AI. We need them to know how to work with big data, and we're still far from achieving that. So what is our role? what is our role? At a very high level is two things. One is we need to completely reform our education systems, and the second one is we need to really embrace a lifelong learning mindset. In terms of our education system. I'm not going to go into detail, but just to say we're really still very much stuck in the past, whether it is what we teach the curriculum, or whether it is the approach in which we teach, everything needs to change so that we can. Move away from the passive learning approach that we that we follow to an approach that focuses on critical thinking, collaboration, real world problem solving. We need to prioritize tech literacy even in the earliest of ages. We need our children, our young children to be playing with robots, to be experimenting with AI, to be learning in the metaverse all the while, of course, while protecting them from social media. And we need to shift the mindset in terms of lifelong learning. We need our youth to understand that they will be lifelong learners. They need to embrace that. They need to have the courage to know that every couple of years, all the time, they just need to be learning new skills to be to be able to continue to be relevant and to be able to embrace the future. But we can't do this alone. What we need is we need to see uh No. We can't do this alone. What we need is we need private sector, public sector, and third sector to come together. We need them to come together to identify the future skills and then identify, develop the right education programs whether within school walls, within university walls, or outside of those walls to be able to teach those skills. At scale we need to invest in mentorship. We need to invest in mentorship because we need our children and our youth to have a risk to have a risk taking approach to be able to build new ventures, to be able to go into new industries, and we need to fund and design upskilling and reskilling. programs this is critical in strategic sectors if we need to move forward, we need to create innovation ecosystems where youth-led solutions can be developed in emerging fields and only through this collaboration and shared leadership across all three sectors will we be able to scale opportunities. There's many examples of this in Singapore or in the private sector like AI Alliance, but as a closing remark, what I would like to say is we need much more of these. We need them tailored to our region. We need it with our youth at the center. A population is energetic. It is ambitious. It is. Digitally native, imagine the possibility if every young person was either building a venture or solving one of our toughest problems like water scarcity, where would the world be? And so what we need to do is to ensure that we provide them the space, the skills, and the tools to reach their full potential. Thank you.

Scott Wilkie, Global Lead, Emerging Technology Security, Accenture, Maria Milosavljevic, Group Chief Information Security Officer, ANZ, Banking Group, Jennnifer Tiang, Regional Head of Cyber Practice, Asia, WTW (Willis Towers Watson), Calvin Ng, Director of Cybersecurity Programme Centre, Singapore, Cyber Security Agency Moderator: Nick Gordon, Editor, Asia, Fortune

Experts reveal how deepfakes and phishing are transforming cybersecurity

Scott Wilkie, Emerging Technology Security, Accenture, Maria Milosavljevic, ANZ, Banking Group, Jennnifer Tiang, Asia, WTW (Willis Towers Watson), Calvin Ng, Cyber Security Agency Moderator: Nick Gordon, Editor, Asia, Fortune

Scott Wilkie, Accenture, Maria Milosavljevic, Banking Group, Jennnifer Tiang, WTW (Willis Towers Watson), Calvin Ng, Cyber Security Agency, Nick Gordon, Editor, Asia, Fortune

Sanjeevan Bala, Media and Entertainment Leader, Non Executive Director, Bakkavor, SThree; Advisor, DataIQ, Gartner Clare Hickie, Chief Technology Officer, EMEA, Workday   Stuart Martin, Director, Group People Operations and People Platform Leader, Lloyds Banking Group

Brainstorm AI London 2024: Making AI Work At Work

Photography by Joe Maher / Fortune Brainstorm AI

Sanjeevan Bala, Gartner, Clare Hickie, Workday, Stuart Martin, Lloyds Banking Group

So we're going to take a few minutes now to hear from three people in the audience who have direct experience with using these technologies in business. Uh The tough part about this is they each have two minutes and only two minutes to introduce themselves and tell you what they're doing that may be relevant to you. And Sanji Van Bala, uh please you go first. Thank you. So, I'm I've been the uh chief data and A I officer for a number of media entertainment companies. And this is true of many of these companies. We're trying to do three things, effectively acquire consumers, get to watch more content and moize that content. We've deployed A I across all three of those use cases. And in some areas we've seen reductions uh that would take us process that three months down to three minutes. Other areas we've deployed uh increase in advertising yields. My top four learnings. Firstly, this is all about change and people change, the golden ratio is 70 2010 70% on people change 20% on technology and data, 10% on the algorithms. Secondly, uh proof of concept, I wouldn't bother with proof of concepts. Because proof of concept is proof of cost. I've moved to a model of proof of value because you map the value with business stakeholders and get the business stakeholders to buy into that value case. Third, learning is the last mile fix the last mile first. So that's the process in marketing the technology and what people skilling do you need to do to enable the last mile of value realization and finally develop FOMO measure the benefits and get more to talk about those benefits. The other stakeholders then want to have some of those benefits as well. Boy, that's, that's great advice. If you all didn't write it down. 70 2010 rule, which is uh 70% of it is about the people. Yeah. Um uh Number two was uh come on, help me last mile, get the last mile and create FOMO uh uh to, to, to get, get people in. Thank you for that. Next up is Claire Hickey from work day, Claire, please. Hi, thank you very much. Can I just say it's really hard for an Irish person to talk in two minutes. Um So my name is Claire Hickey. I'm the CTO for me at work day. Fascinating afternoon. Um One thing I'm gonna pick up on is their own skills in particular and it is around one is obviously the fear of the job lost and is the computer going to take over my jobs and everything that goes with it. Can I just say three things on this one is who knows what's going to happen, but it's always going to need humans. And the biggest right that we have and it's been demonstrated time and time today is the right of decision making. No matter what other skill may be taken by the computer, the power of the decision is not going to be taken away. So let's upskill on that one alone. The second one is upskilling without A I, it's really hard to upskill. And the third one is use A I to identify the talent gap in your organizations and use it to be able to upskill your employees in your organizations. It costs, it's six times more expensive to recruit externally than it is to absolutely upskill your workers and you are going to be able to retain that talent at the same time. So start using A I to equally develop your talent and identify your talent, but equally look at it in terms of what you need from a skills gap perspective internally to help your employees upskill. But where are you going with your organizations to remain with that competitive edge? What do you need from a skills perspective and identify it even externally to be able to fill that gap? So you're all successful. Did I do that in two minutes? And it was great. It was great. Uh uh Thank you for that. I think the emphasis on upskilling is so so important. And thank you for re emphasizing that. And finally, Stuart Mark Martin from Lloyds Banking Stuart, I, I'm going to face this way. Uh Certainly so two minutes to talk about some of the challenges solutions uh and lessons learned ain't going to happen. Uh So I'll focus really just on the challenges that I've, that I've seen in quite a few of them were quite familiar from, from today. So first thing to acknowledge that quite a number of people probably think this is a fad that's going to pass them by. That's a challenge. We have so few years ago, we probably sat here talking about we are or the metaverse or something to solve the world's crisis. So it's good to see it's going to stay. And so the challenge we have is to make sure people don't sit on the sidelines and think it can pass them by and not participate. So I think how we get, how we do that is going to be important. So this not seen as a bit of a fad. Uh that leads me to the second challenge. I think we all have to really face into and that is that we need a very different approach to the total world of work. So I have an hr hr background. So A I is impacting and will continue to impact every single facet of our, the way we work, what we do, how we do it when we do it, where we do it, which device we use to do it and which uh which even which environment we used to do it. So if you haven't picked up on that yet, um you know, that's going to be a substantial challenge. And I think as businesses and as senior leaders, our challenge is how do you uh grapple with that? How do you make it, uh you know, something real and how do we choose to work in that sort of environment? Very, very complex but very exciting third challenge, speed and complexity. Um you know, things are happening so fast. I think someone asked earlier about, you know, what's gonna happen the next decade? I think when you think about what's happening next week. So what's the, you know, what's the speed things are having such speed and complexity, everyone's trying to study the next unicorn, this is faster, this is better, this is more cost effective. And so I think the risk we have is that our workforce will just tune out and not participate in in all of this. And, and I've been given the nod to close up so that the final one I'll keep it quite short is, you know, how do we uh the risk we have is um engaging our evolving workforce, multi generational uh where we are today and working longer if we need to. So how do we um you know, increase uh the workforce and make work fundamentally more engaging and increase the digital literacy that we need to be successful. Great. Thank you very much. Thank you all three of you for sharing those. Stuart. I love the fact you talked about how this is going to change every single facet of what you do because I think that's one of the things that large organizations are struggling with. Everyone's doing experiments, everybody, everyone's doing trials. But the question that this next panel that we're going to have is going to address is how do you get from the trial stage to implementing these technologies at scale?

According to the UN's World Food Programme, nearly 600 million people face food insecurity around the world – and that number has been rising. But new developments in artificial intelligence are allowing groups from the UN to smaller startups to target who needs help and devise efficient ways to deliver assistance.

Global hunger is rising: Here’s how A.I. can help

Tech

New developments in artificial intelligence are allowing groups from the UN to smaller startups to target who needs help.

Russia's war in Ukraine has amplified the global food crisis. Global food costs climb even further on climate change, covid 19 and inequality it threatens to keep tens of millions of people over the edge into food security. We are in unprecedented times. In 2019 we had about 100 and 30 million people who were in hunger crisis or worse situation today. That number is 345 Million people off wage. About 50 million people in 45 countries are in what we call hunger emergencies, meaning one step away from famine, putting feet on the ground to do these assessments, especially in conflict into these affected areas. It's very, very difficult and extremely expensive. So we need to know what is happening in countries. We need to know what is happening on the ground. That is the predictive power of Ai in the World Food Program. We have something which we call hunger map life. This is based on a i artificial intelligence, it has two components, one is actual measurement, meaning that works on daily surveys and about three dozen plus countries. And then the second part, which is another 50 to 60 countries which is purely a I driven we combine these two segments with high frequency data from climate meaning rainfall, vegetation to things like conflict to things like disasters to things like high frequency economic data to come up with the real time story of the situation in different countries. The predictive AI data which has taken all the assessment work which was done in the past and using deep learning and made sense and came up with an hour casting estimate of that particular place. It is predictive. So it is an alarm for us to see oh there's something may be going wrong in this particular place. Let's go verify. And I think that is the most critical part of this whole equation Hunger Map live which is real time and across time is a complement to on the ground assessments because you cannot do on the ground assessments every day even if you could go there. But you can do annual assessment of a particular place or one big survey every three years and then use these systems to see how things are changing. We have no longer areas which are no good if we cannot put feet on the ground in those places. We have technologies in 2021 using Hunger Map, lives saved w. FP with World Food Program, $18 million on assessments. So if you can find out immediately that something is not working, you can fix it right away without wasting millions of dollars and that is a huge huge value. We have enough food to feed maybe nine million people right now. The problem is how their food is value. Whether we're looking at it from an environmental point of view or we are looking at just from economic point of view or food security point of view, we need to put a handle on the food waste side. Sometimes you need to think bigger than what we currently do in order to fix that problem. So I replaced, we rethink food waste and food insecurity and essentially we are a B two B platform that connects businesses that have surplus food to the communities in need instantly. And the way it works is these businesses request in a very similar fashion they can request pick up on demand or scheduled recurrent weekly pickup. Were heavily driven team in the end of driven team, we care a lot about the accuracy of our impact metrics and delivering the impasse metrics back to the stakeholders, meaning that if a business is working with us, they know exactly how many pounds they donated, How many meals, where did it go? The top nonprofits are on the dash, but they know where the food was, right. They learn about these nonprofits, they can also know about the environmental impact and social impact and they can comply with sp 13 83 and comply with E S G S G sustainability goals. So this transparency into the food system and the ability to see your accurate impact data is very crucial. That's that's one thing, the other thing is more philosophic in terms of, look, we're not going to just move any food, We know our end users need nutritious food. So we're going to be very careful in terms of we bring as a donor third element, which is what we're very proud of is the idea of using ai in prediction. So now we have the ability to predict at each location, how much food is going to be. We also know the items of food that is mostly donated. When we have that forecasting, we can first recover more because we know how much in there, we know which food rescue will be the most optimal for that pickup and then we know that nonprofits can take all of it rather than wasting it. The more technical you become in terms of like using technology or even looking at data, the smarter you become and you don't need necessarily as many people to be on site to do certain jobs. If you can deliver, let's say 1000 meals with one person. If you can get to a point where you can deliver 2000 meals with the same person, then you've done incredible because now you're a dollar per me is delivered becomes less right and you can deliver more food with less. So technology allows us to do that. And then the more important one, which is again, the idea of giving people what they want. So if a nonprofit needs food of this amount of 50 meals between 2 to 3 p.m. On Wednesday and it's only halal or only kosher or it's a specific nutritional needs, then that's what you need to, you're not doing favor, if you're just channeling food from a certain supermarket that is not needed to a nonprofit that do not, the more data and the more prediction and the more understanding of what's really happening from the reflection on that data, they're more likely to be able to serve the community. Technologies are allowing us to see more around the world in terms of how hunger may be rising, but also how what we do or our partners do how that is making a dent in food and security around the world.

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