Global leaders, visionary innovators and influential investors have gathered at the 8th annual Future Investment Initiative (FII) to explore the theme “Infinite Horizons: Investing Today, Shaping Tomorrow.” 

 

Under the leadership of CEO Richard Attias, FII Institute once again showcased its commitment to redefining the future of global investment and innovation, sparking dialogues around critical issues shaping the world. 

 

In attendance was Dr Mustapha Madbouly, Prime Minister, Arab Republic of Egypt and Prime Minister of Pakistan, Shahbaz Sharif.

 

Breaking traditional boundaries 

“The Future Investment Initiative is about breaking traditional boundaries in thinking and expanding the possibilities of human achievement,” said Attias. 

 

“On Day 1, we’ve seen global visionaries lay out powerful ideas and strategies that will shape how we address today’s most pressing challenges and open up new horizons for humanity.”

 

The day commenced with insightful remarks by Attias, setting the stage for discussions that would bridge investment, innovation, and sustainable development. Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF), followed with a call to action, urging leaders to harness innovative strategies in the face of global shifts.

 

Al-Rumayyan introduced the findings of the 2024 FII PRIORITY Compass: providing crucial insights into the evolving landscape of global challenges. The report highlighted urgent priorities such as cost of living, governance and healthcare, urging stakeholders to align their strategies with sustainable development goals. He notes, “At this crucial moment, we stand on the edge of infinite horizons. We have the responsibilities and opportunities to shape a future that invests not only in our economies, but in humanity itself.”

 

Influence of Global South

A distinguished panel, including BlackRock’s Laurence Fink, Moderna’s Stephane Bancel, Hong Kong Exchanges and Clearing Limited Laura Cha, Citadel’s Ken Griffin, Sanofi’s Paul Hudson, Google’s Ruth Porat, HSBC’s Former Group CEO Noell Quinn, Facebook’s Co-founder Eduardo Saverin, Former CEO & Chairman, Google KBE Dr Eric Schmidt, The Blackstone Co-Founder and Chairman, Stephen Schwarzman and Carlye Chairman and FII Institute Secretary of the Board, David Rubenstein discussed the rising influence of the Global South, technological disruptions, and the need for novel economic systems to support sustainable global progress.

 

Prince Abdulaziz bin Salman Al Saud highlighted Saudi Arabia’s leading role in the energy transition, emphasising sustainable energy development as critical to achieving net-zero targets worldwide.

Industry titans, including Dr Muhammad Al Jasser, Chairman, Islamic Development Bank (IsDB) Group; Tony O. Elumelu, Chairman, United Bank for Africa (UBA) Group; Founder, Tony Elumelu Foundation; Jane Fraser, CEO, Citi; Jenny Johnson, President & CEO, Franklin Templeton; Ron O’Hanley, Chairman & CEO, State Street Corporation; Ted Pick, CEO, Morgan Stanley; Marc Rowan, Co-Founder & CEO, Apollo Global Management; Harvey M. Schwartz, CEO, Carlyle; Neil Shen, Founding & Managing Partner, HongShan; David Solomon, Chairman & CEO, Goldman Sachs; Makoto Takashima, Chairman of the Board, Sumitomo Mitsui Banking Corporation; and Bill Winters, Group CEO, Standard Chartered analysed the changing dynamics in financial management, emphasising adaptability in the face of evolving economic conditions and geopolitical factors.

 

TikTok CEO Shou Chew captivated audiences with insights into the impact of social media and digital platforms on global community-building, creativity, and cultural exchange, moderated by Richard Attias. Chew said “TikTok has more than a billion users now. It’s not just an app for young people but caters to everyone. It is not just about entertainment, but community, heritage, culture and arts.”

 

A global pledge aimed at ensuring inclusive AI deployment in emerging markets. This initiative brings together tech companies, knowledge partners, government policymakers, and the private sector. Funding will be deployed to projects in Emerging Markets. FII Institute 19 Knowledge Partners will be providing expertise and capacity-building support.

 

Impact of AI on employment

Future of AI including CEOs such as Shou Chew, CEO, TikTok; Jack Hidary, CEO, SandboxAQ; Benjamin Horowitz, Co-Founder & General Partner, Andreessen Horowitz; Travis Kalanick, CEO, CloudKitchens; Ruth Porat, President & CIO, Alphabet & Google; Jay Puri, Executive Vice President of Worldwide Field Operations, NVIDIA; Dr Eric Schmidt, Founder & CEO, Schmidt Family Foundation; Co-Founder, Schmidt Sciences; Former CEO & Chairman, Google focused on significant advancements in AI technologies over the past year, including breakthroughs in areas such as generative AI. The session also addressed the dual-edged impact of AI on employment. The conversation turned to the ethical challenges posed by AI, such as algorithmic bias, privacy concerns, and the implications of AI in decision-making processes.

 

A Special Discussion on The Future of AI with Elon Musk left FII8 guests with key insights on how AI should prioritise the well-being of humanity. He emphasised, “Going Forward, we need AI that loves humanity, which is why xAI was created. It seeks the best interests of humanity” promoting a future where these technologies serve to uplift and enhance the human experience. 

 

Some 12 financial and non-financial announcements were made all centered around the theme of investing in impactful solutions for humanity. These announcements highlight a commitment to fostering positive change across various sectors, emphasising sustainable development, and innovation.

 

As FII8 progresses during the week, the Institute will convene deeper discussions on fostering collaboration, responsible investment, and bold new solutions that transcend conventional boundaries, all in pursuit of a sustainable and prosperous future for all.--TradeArabia News Service