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Jul 20, 2004: CEO Forum with Carly Fiorina of Hewlett-Packard

Excerpts from the AmCham Russia CEO Forum presentation by Carly Fiorina, Chairman and CEO of Hewlett-Packard, on July 20, 2004.

On Changes in the World Market and in Russia

To begin with, I think that the dot.com boom and the dot.com bust was the end of a beginning. It signaled the end of the prolog for technology. Before the dot.com boom and bust, when I talked to customers, technology was for most people who understood technology. Technology now is the business of every one. Technology is now transforming every business, every country, every life.... Now technology is central to everything.... Now technology has to be for everybody. Every business, every government, every person. Five years ago, we would talk to a CEO and the CEO would say, "I don't understand technology." Now CEOs say, I don't have to understand how to develop technology, but I have to understand how to use technology, how to apply technology, how to invest in technology. This is a huge change.

First, there are specific industries here in Russia ... that can apply technology in a way that may lead the rest of the world. Of course, also here in Russia technology can be used to accomplish competitive economic goals. Technology can create the opportunity to lead. And so I think in many ways Russians are more anxious to use technology because they recognize it is an opportunity to accelerate change. And of course, everyone that I speak to here is very interested in not just using technology, but building local capability, Russian capability and Russian technology as well.

On HP’s Plans for Russia

I am not here today to announce specific plans, but certainly I think the quality of the talent here in Russia is a competitive advantage of Russia. And certainly it is in our interest to take advantage of the talent.

On Personal Impressions of Russia

I will be here over the next several days, and I am sure that many of my impressions will be a lot more substantial. But I was struck immediately by activity, the color, the movement, the level of commercial activity everywhere – in St. Petersburg, here. One senses a country on the move. In fact, everyone I meet is a very enthusiastic advocate on behalf of the country. This forms a big impression.