More than 30 chief executives and business leaders identified geopolitical instability, supply chain disruptions, and artificial intelligence as primary concerns for the global business environment during the Converge Live event last week. Executives from sectors including banking, energy, technology, and manufacturing discussed the need for new strategies to address what many described as a period of structural, rather than episodic, uncertainty.
A common topic of discussion was the need for greater operational flexibility. Tan Su Shan, CEO of DBS, Southeast Asia’s largest bank, said businesses must prepare for a wide range of outcomes. “If you are a manager, manage for maximum flexibility. Because guess what, you don’t know what’s going to happen tomorrow,” Tan stated, adding the importance of stress testing for worst-case scenarios.
Reflecting this view, several leaders noted that traditional long-term planning is becoming less effective. “Long-term planning is becoming more and more difficult,” said Stanley Szeto, chairman of apparel manufacturer Lever Style. Thomas Knudsen, managing director for Asia at jewelry company Pandora, described a strategic shift from “just in time” to “just in case” inventory and supply chain management.
Disruptions in global trade were a central point of discussion. Captain Rajalingam Subramaniam, CEO of Fleet Management Limited, reported that more than “2,000 vessels in the Persian Gulf [are] stuck,” affecting “between 20,000 to 30,000 mariners.” He stated that supply chain costs would remain high for an extended period.
These costs are contributing to inflationary pressures, according to executives. “To the extent that shipping is disrupted, then the cost goes up,” Szeto said. “Material prices have been going up… so… it’s very inflationary.” Knudsen of Pandora added that such costs are often transferred to the consumer.
Leaders also observed changes in consumer behavior. Hans Patuwo, CEO of the Indonesian company GoTo, said that while affluent shoppers remain resilient, middle-income consumers are now more willing “to sacrifice assortment… [and] speed for cheap.” In the Philippines, consumers are “really being very selective” with purchases, said Martha Sazon, CEO of GCash operator Mynt.
Artificial intelligence was presented as both an opportunity and a risk. Some technology investors noted that AI is altering established business models. Daisy Cai, a general partner at B Capital, suggested that Software as a Service (SaaS) companies may need to shift from per-user pricing to outcome-based models.
Cybersecurity was highlighted as an urgent priority. Tan of DBS said her team is “constantly red teaming” to identify vulnerabilities. Brendan Laws, COO of cybersecurity firm Blackpanda, noted that the accessibility of AI tools is increasing the speed of cyberattacks.
The topic of energy security also prompted varied perspectives. TK Chiang, CEO of Hong Kong power producer CLP, advocated for a diversified approach that includes gas and nuclear power alongside renewables. In contrast, Assaad Razzouk, CEO of renewables firm Gurin Energy, argued that renewable sources combined with storage are becoming more cost-effective than traditional energy forms. Both acknowledged that rising energy demand, partly from data centers, adds urgency to the issue.
At the event, former Canadian Prime Minister Justin Trudeau offered a broader perspective on risk. “What keeps me up is the fact that so many people are being convinced that they don’t matter anymore,” he said.
