'The Economy, AI, and the Future'

Fernando Zobel de Ayala, AC President and CEO Cezar P. Consing and Corporate Strategy and Development Group Head Mark Robert Uy, Access Partnership Singapore Director Marcus Ng, IT and Business Process Association of the Philippines CEO Jack Madrid, Trade Undersecretary Rafaelita Aldaba, Singtel Singapore CEO Ng Tian Chong, Citi Managing Director and Head of Investment Banking for Asia North & Australia and Asia South Jan Metzger, Jaime Augusto Zobel de Ayala, AC CFO Albert de Larrazabal, and AC Data Science and Artificial Intelligence Group Head Karl Kendrick Chua

Fernando Zobel de Ayala, BPI Lead Economist Jun Neri, AC President and CEO Cezar P. Consing, KKR Partner Prashant Kumar, BPI Independent Director Emmanuel de Dios, Owi Ruivivar, Asia-Pacific ING Regional Head of Research Robert Carnell, Singtel Group CFO Arthur Lang, Jaime Augusto Zobel de Ayala, AC Treasurer Lito Biacora, and AC CFO Albert de Larrazabal

The 2024 Ayala Economic, Treasury, and Innovation Summit, held on August 13 at Fairmont Makati, focused on domestic and international economic outlooks, capital markets and sustainable finance, and the impact of artificial intelligence on emerging markets and the future. Featuring thought provoking discussions with leaders from industry and government in the Philippines and the region, the summit was participated in by board directors, senior management, and officers in the Ayala group.

Ayala Corporation President and CEO Cezar P. Consing opened the summit. He explained that it was organized into two parts: the first, with experts " to talk us through how AI might affect us and how the structure of the economy could potentially change," and the second, on tactical issues affecting markets.

"I hope after this four-hour session, we can leave with the firm knowledge that we at least know the parameters for the next 12 months," he said.

AC Chief Finance Officer Albert de Larrazabal

It's not just about technology per se, but one that is coupled with generative AI and what are the challenges and opportunities that presents for us, and how it changes the way our consumers behave, the implications to the products and services that we offer, and, ultimately, to the way we run our businesses. [...] I think this has been a really timely conversation as we set out developing our plans, our budgets, how we integrate this development, these opportunities, and these challenges to our plans and programs moving forward.

Empathy, trust, creativity, negotiation—these are the skills that will be valuable in the future. [...] The pure regurgitation of knowledge will not have any value whatsoever, and you're going to find that creativity, negotiation, intellectual curiosity will be much more important. The acquisition of facts will matter less, but the knowledge of frameworks will matter. You will need an understanding of the world, of how to combine different disciplines, so that you can work with the knowledge that is given to you and add some kind of value with that.

Citi Managing Director Jan Metzger

Fernando Zobel de Ayala and BPI Independent Director Emmanuel de Dios

Bank of Singapore Chief Portfolio Strategist Owi Ruivivar

(From left) ALI Board Director and SVP for Leasing and Hospitality Mariana Zobel de Ayala; Globe and ACEN Board Director and ACMobility CEO Jaime Alfonso Zobel de Ayala with AC Health President and CEO Paolo Borromeo; Singtel Group CFO and former Globe Board Director Arthur Lang and Globe President and CEO Ernest Cu; AC Treasurer Lito Biacora, Singtel Board Director Tan Tze Gay, and BPI CFO and Chief Sustainability Officer Eric Luchangco; AC Board Director Delfin Lazaro