Tell us a little about yourself. What does your job at Telefónica involve?
My job at Telefónica Corporativo is to facilitate the implementation of regulations in operations, particularly European regulations. To do this, we identify the key areas affected by the regulations and, from there, we make the most of the experience of each operation and the synergies between them.
The aim is to make it easier for operations to comply with regulations in a coherent way, and to do so as efficiently as possible in terms of resources and business.
We also provide support and follow-up on the most relevant regulatory concerns affecting each particular operation.
Why is regulation important?
Regulation is fundamental in our market. It is an agent with authority and it establishes norms, supervises and has the capacity to sanction.
Its activity has two sides. On the one hand, it carries out the management of resources, such as, for example, the allocation of radio spectrum for telecommunications or the allocation of telephone numbers. This makes it easier for companies to operate and offer services.
On the other hand, regulation can also generate market distortions, by limiting the flexibility of companies or discouraging innovation.
In short, given that regulatory compliance is indispensable for operations, regulation must be taken into account in business decisions.
What regulatory differences exist between Europe and other regions of the world?
Currently, Europe is considered to have excessive regulation. This means that almost everything is regulated: from general principles to the smallest details. However, this year, the European Commission has understood this and has announced a plan to simplify laws and reduce bureaucracy. Successful implementation of this plan should result in a lightening of the regulatory burden and improvements for businesses and individuals.
A key difference between Europe and the United States is how competition in the market is managed. In Europe, there is artificial intervention to favour the entry of new agents, something that is not done in the United States. As a result, European companies have difficulty growing sufficiently. This directly affects the profitability of companies, and as a consequence, social welfare.
How can we move towards a digital society and economy that is more inclusive, sustainable and fair?
I believe that we are already moving towards a more inclusive, sustainable and fairer digital society and economy. Inclusion is fundamental and diversity in teams enriches everyone and allows us to create solutions that benefit a wider range of people.
Furthermore, our sector, and especially at Telefónica, we are lucky enough to contribute directly to communication and digitalisation, and to see the results of our activity in society. The well-being of the community is already about justice.
How important is it to regulate the advancement of new technologies such as artificial intelligence?
The significance of regulating new technologies has a very significant impact. In my opinion, the most prudent thing for regulators to do is to adopt an observational stance, avoiding premature intervention and distorting an ecosystem that is unpredictable for everyone. There is always time to regulate, and ex post regulation can always be resorted to.
How can we ensure that the digital transformation is people-centred?
Digital transformation has to be people-centred. After all, it is people who use technology and who benefit from it. I think Telefónica is very clear on this.
Who is a person working at Telefónica that you consider excellent in their job?
David Rojo, from Telefónica de España’s Regulatory Department. Since joining Telefónica I have met many excellent people and also in the last year, when I have been working with many more. I would highlight David who is excellent in a broad sense, professionally and personally. The task of the entire Telefónica de España Regulation team, and yours in particular, is titanic, always through constructive and well-founded dialogue with the regulators, with elegance.
