Leading Executives Discuss AI, Cryptocurrency, and International Trade
Highlights from CNBC’s CONVERGE LIVE Event
Keynote Speakers and Their Topics
Notable Guests
The inaugural CONVERGE LIVE event hosted by CNBC featured many prominent figures from various industries. Some of the key speakers included:
- Benedetto Vigna, CEO of Ferrari
- David Cameron, former Prime Minister of the U.K.
- Richard Teng, CEO of Binance
- Scott O’Neil, CEO of LIV Golf
- Tomaso Rodriguez, CEO of Talabat
These industry leaders gathered to share their insights and discuss pressing topics such as artificial intelligence (AI), global supply chains, and tariffs.
Session Schedule
The event kicked off at 9:40 a.m. Singapore time. Notably, David Cameron addressed:
- AI Advancements: How AI is shaping various sectors and its implications for the future.
- Tariffs by Trump: The impact of tariffs imposed by the previous U.S. administration.
- American Exceptionalism: A discussion on its relevance in today’s world.
Later, Tomaso Rodriguez focused on speeding up global supply chains, while Benedetto Vigna explored Ferrari’s future during his session around 1 p.m. local time.
Embracing AI in Business
Insights from Anthony Tan
Anthony Tan, co-founder and CEO of Grab, emphasized the need for businesses to adopt AI technology. He shared his belief that:
- Companies that do not embrace AI will eventually lose out to those that recognize its importance.
- Grab’s integration of AI includes their training platform, Grab Academy. Tan also admitted using AI as a personal coding assistant, stating, “If you embrace it, it makes your company superhuman.”
This perspective highlights the growing importance of AI adoption in modern business environments.
Future of Artificial Intelligence
At the conference, top tech leaders discussed the extensive future of AI. Joe Tsai, chairman of Alibaba, mentioned the significance of open-source AI technologies, like the one from Chinese start-up DeepSeek, which has led to a surge in applications.
Marc Benioff, CEO of Salesforce, expressed skepticism about huge investments in data centers, questioning their necessity amidst AI developments. He stated:
"You don’t need this kind of technology… you have to rethink what you’re doing."
Dean Carignan from Microsoft noted that AI should handle mundane tasks, allowing humans to focus on creativity and innovation.
Economic Concerns and Tariffs
Industry Warnings
Tariffs imposed by former President Trump emerged as a significant topic of discussion. Ray Dalio, founder of Bridgewater Associates, cautioned that these tariffs might lead to conflict between nations, emphasizing the potential for trade disputes.
- Trump’s 25% tariffs on aluminum and steel imports recently became a hot issue, contributing to market instability.
Reciprocity in Trade
Marc Benioff highlighted that reciprocal treatment between countries is vital. He warned that without clear and consistent policies, businesses could face increased volatility in international relations.
Overview of Day 1 at CONVERGE LIVE
Opening Remarks by DPM Gan Kim Yong
The event’s first day began with opening remarks from Singapore’s Deputy Prime Minister. He reflected on the unease within Asia regarding the impact of U.S. tariffs while maintaining that the region continues to present growth opportunities.
- Ray Dalio reiterated the importance of addressing America’s growing debt issues, signaling potential challenges ahead.
- Salesforce announced a commitment to invest an extra $1 billion in Singapore to boost digital transformation and the adoption of its AI solution, Agentforce.
Overall, the event showcased a dynamic exchange of ideas and insights on several critical global topics, underscoring the intertwined nature of technology, economics, and international trade.
