Good morning.
When I moved to Asia at the start of my career in the 1990s, much of its growth was fueled by industrialization and leveraging low-cost labor in a globalizing world. Today, as BCG’s Asia-Pacific chair Neeraj Aggarwal noted in a recent TED Talk, Asia is increasingly exporting culture, ideas, technology and leadership.
He joined me earlier today for a roundtable with Asia-Pacific leaders in a series sponsored by BCG.
“Never in the history of humankind have we had so many revolutions happening together, so much change,” Aggarwal said. For many of the leaders he meets, “this upheaval is actually generating a sense of energy” as change creates not just stress but opportunity.
Other comments:
Our ultimate customer is the patient but physicians make the treatment decision and then there are many other different stakeholders. To combine them as one consumer base, AI is a really useful tool. — Naoki Okamura, president, Astellas Pharma Inc.
We spend a lot of resources to promote a human-centric culture and innovation culture. I think this is very important for us to keep long-term growth… For Gen X, Y, Z, they want to work to earn some money, but they need to know the purpose. Creating the right culture is very important. — Hsien-Yuen (S.Y.) Hsu, co-CEO, ASUSTeK Computer Inc.
TDK is a manufacturer of electric devices like passive components, sensors, DG, minor batteries and magnetic head for the data center. It’s a Japanese company with 100,000 team members all over the world. Just 10% are Japanese… We are utilizing AI to make our operations more efficient…and create new business opportunities in areas like predictive maintenance. — Shuichi Hashiyama, general manager, TDK Corp.
If you’re able to deploy capital or resources with a long-term view, Gen AI is a tremendous opportunity… And partnerships are increasingly important with all these opportunities. Nobody can go it alone. Those who you thought were competitors before now, sometimes you’re best friends in terms of how you’re able to go to market, reach customers and serve customers. — Roary Stasko, CEO, Telstra International
How do we keep the lights on with our ultra-high net worth clients who still need people to service them in their investment recommendations? But then we have to tap a new market as well, which is more of the mass market, a new gen that’s completely digital. With AI, we can grow to smaller segments, especially in terms of recommending product investments. — Arapat Sangkharat, CEO, Maybank Securities Thailand
More news below.
Diane Brady
diane.brady@fortune.com
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How boards can champion innovation now According to Deloitte’s latest report, the accelerating pace of change in business demands boards that embrace disruption and champion innovative thinking. How can board members drive forward-thinking strategies? Explore insights here.
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Pat Gelsinger is out at Intel
Intel CEO Pat Gelsinger retired as head of the struggling chipmaker following a no-confidence vote from investors. The company veteran had broad plans to bring Intel up to par with competitors like Nvidia, TSMC, and AMD, but its shares have more than halved since Gelsinger took over. Fortune
Stellantis CEO resigns
Stellantis CEO Carlos Tavares resigned on Sunday and was replaced immediately with John Elkann, the carmaker’s board director and the heir to Fiat. In his resignation, Tavares took responsibility for the company’s lagging sales. Fortune
LinkedIn cofounder considers leaving country over political retribution
Reid Hoffman, the LinkedIn cofounder who helped bankroll Kamala Harris’ campaign and private litigation against Donald Trump, is considering leaving the U.S. out of fear of political retribution, according to the New York Times. President-elect Trump has previously signaled his intent to exact “revenge” on political enemies. Fortune
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