‘Biggest paradigm shift since WWII’: Global CEO panel discusses new world order with AI, sees opportunities

The world order is undergoing a significant shift, with artificial intelligence (AI) at the forefront of this transformation, according to a panel of global CEOs at the Forbes Global CEO Conference in Singapore. Ho Kwon Ping, founder and executive chairman of Banyan Group, believes that the world is witnessing a paradigm shift unparalleled since World War II, and it will unfold over the next 25 years. The three key factors driving this change, he asserts, are civilizational reset, climate change, and AI.

Smaller nations stand to gain from this shift as the rule-based order transitions away from Western dominance that has held sway for the past century. India is actively positioning itself as a key technology partner, strengthening bilateral alliances with major players. The Middle East, despite the ongoing war, is rebounding due to strong leadership and a robust post-war infrastructure development, which is attracting significant investment from sovereign wealth funds.

However, despite the potential benefits, a significant portion of companies are not reaping the full financial returns from AI due to limited business and technological infrastructure. PwC's AI survey reveals that 56% of companies see little to no financial benefit from AI, with many perceiving it as a technology project rather than a transformative business initiative. This highlights the need for companies to bolster their digital systems and governance structures to fully capitalize on AI's potential.

The panelists unanimously recognize the volatile nature of the future but emphasize the opportunities presented by resilience, evolving globalization, and broad AI adoption. While the benefits of AI are undeniable, panelists caution against the potential physical and investment risks associated with the current AI boom, advocating for responsible guardrails and regulations to ensure its ethical use.