No matter how you measure it, inequality has been on the rise since the 1970s. According to Inequality.org, the richest 1% now own 45% of the world's wealth, while the Guardian reported that chief executives at FTSE 100 companies in 2017 earned 145 times more than an average worker, up from 47 times in 1998. This concentration of wealth at the top has emerged as a potential source of conflict in modern society. With new technologies like artificial intelligence (AI), robotics and the internet of things (IoT) creating opportunities for growth, businesses are increasingly expected to contribute positively to the communities that surround them rather than just chasing profits and maximising returns for shareholders. In this era, businesses need to have a clear purpose and act as responsible corporate citizens.

Christoffer O. Hernæs is chief digital officer of Skandiabanken, Norway's first pure internet bank and leading challenger bank. As global poverty continues to decline, another issue emerges. According to the World Economic Forum, rising income inequality and the polarization of societies pose a risk to the global economy, and may lead to increased polarization and lack of political stability. This, however, is not a global problem. In developing countries, inequality is decreasing and the amount of people living in extreme poverty is at an all-time low.