Navigating the multi-crisis environment and where artificial intelligence fits in
“Societies and businesses around the globe are facing unprecedented challenges and the threat of prolonged difficulties — be they related to war, climate, energy, inflation, etc. But despite these gloomy perspectives, Davos turned into cautious optimism among executives leaders, as the global economic outlook for the year ahead looked better than feared. Large corporations can play a major role in overcoming these hurdles,” Martin Pejsa, founder and executive chairman of corporate venture builder Creative Dock, said at the event hosted by Creative Dock and Roland Berger at the margins of the World Economic Forum’s Annual Meeting 2023.
Will we miss globalization?
Creative Dock and Roland Berger, a global management consulting firm, hosted their own Davos event for the second time. This year with almost 80 C-suite executives from Europe and MENA, The theme, “How leaders can navigate the current multi-crisis environment and be prepared for different geopolitical and macroeconomic scenarios”, remained. And the evening brought a lot of exciting views not only in the fields of macroeconomics and geopolitics. In his keynote speech, Michael O’Sullivan, Managing Partner at Harvest Innovation Advisory and author of The Levelling, discussed the rise of inflation, the end of globalization, and the shift to a multipolar world.
In his reflection for Forbes, he subsequently highlighted the following from the keynote speech: “Today, more than any other European country, Germany embodies the dilemma that many nations face of being ‘forced to choose sides’. Having spent decades managing and cultivating relationships with European neighbors and countries like Turkey and Russia, Germany now has to choose.” It’s just one example of how the “certainties” of once intelligible globalization are crumbling in the contemporary world.
A time of significant global transition is here
These are echoes of the end of globalization and the growing importance of ‘strategic competition’, one of O’Sullivan’s important concepts explored in detail in his recent book The Levelling: What’s Next After Globalization. He likened today’s trend of globalization to the formation of peaks and valleys. It’s known as “the levelling” as mentioned in his book, in reality — a major transition in economics, finance, and power.
“What’s next is a levelling-out of wealth between poor and rich countries, of power between nations and regions, of political accountability from elites to the people, etc.”
Never underestimate the dangers of cybercrime
In addition to geopolitical influences, online institutions, shops, and related dangers are becoming increasingly important. We still lack institutions for many of the problems of the 21st century. Particularly, the type that deals with the cyber industry are being created today. With the growing cases of cybercrime, we are getting more familiar with cyber attacks and even long-term wars. Global tech giants such as Microsoft play a bigger role in this area than some state or international organizations. In the networks and communities of the future, we must prepare for much more complex relationships than we have known so far. This is another nail to the coffin of our good old, relatively clear globalization, O’Sullivan would probably say.
Can AI help create the security forces of the future?
One of the interesting notions is how AI can be used to combat cybercrime. With rigorous AI development, security experts can be notified of potential threats by AI automatically examining the telltale indications of all hacks and exploits. While cognitive reasoning can be used to link threat entities that are associated with actual events, such as malicious entities, suspicious IP addresses, and hazardous files. Regardless of the shape AI takes, it is clear that technology may provide crucial insight into an incident and help a business comply and adapt.
In the panel discussion, which also included Dr. Ulrike Handel (former member of the Executive Board at Axel Springer) and Astrid Hermann (CFO at Beiersdorf), Michael adds, “What we have to ask is how far these AI studies and technologies that are going to drive the world to extend to? How should it be financed, and will it be a good mix of public and private sectors? And what about innovation?”
“One thing we’re certain of is that Creative Dock will build all these companies for the EU which will use AI and the technology surrounding it for a good cause and trade protection, etc. Thus, this is a trendy big project to look forward to.”
The power of positive thinking. And corporate venture building
“We already see those green energy investments and the latest advancements in AI also have a big potential. Today’s organizations want to realize truly sustainable businesses. Europe and the MENA region need to invest in future competitiveness and leverage their current large assets, which will open the door to new innovative products and services for people. Corporate venture building can be the answer to overcoming global challenges, staying ahead of the competition, and making a positive global impact,” Martin Pejsa responded to O’Sullivan’s words.
The slightly optimistic atmosphere of the entire Davos 2023 was then transferred to the atmosphere of the evening organized by Creative Dock and Roland Berger. Fabian Engels, Partner at Roland Berger, says: “Under the theme ‘Cooperation in a fragmented world’, the Annual Meeting of the World Economic Forum highlighted the imperative for dialogue and cooperation among stakeholders from all sectors. Our joint event lived up to this spirit, enabling discussions on navigating through the current environment to ultimately overcome fundamental challenges. This cautious optimism and the ‘can do attitude’ expressed in Davos are encouraging, especially in a time of multiple crises.”
Help set new rules for cooperation and mutual aid in a post-globalization world. Come co-create new tools, ventures and institutions to protect and govern our cyber future. Contact Creative Dock, the largest international company venture builder in Europe and MENA, to start your own new future venture.