Leading in turbulent times

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Navigating the Tech-Driven Turbulence of 2025: Insights from Web Summit Vancouver

At Web Summit Vancouver 2025, a panel discussion featuring Professor Arun Sundararajan, author of “The Sharing Economy,” Minister Brenda Bailey of British Columbia’s Ministry of Finance, and journalist Dara Kerr explored the challenges and opportunities arising from rapid technological advancements, particularly in AI.

The conversation began by addressing the significant issues facing the world in 2025, including economic shifts, political changes, and evolving technologies. Minister Bailey highlighted the growing gap between technology and public policy, emphasizing the need for governments to adapt to the speed of technological change. Professor Sundararajan pointed out the risk of prioritizing technological returns over potential risks, leading to a more fragmented technological landscape.

The discussion then shifted to the role of AI in governance. Minister Bailey acknowledged the challenges Canada faces in regulating AI, citing the ongoing development of the AI Act and the existing guiding principles in British Columbia. She stressed the need for a balanced approach, advocating for rapid adoption of AI in certain areas like small business while urging caution in others, particularly those involving vulnerable populations. Professor Sundararajan emphasized the importance of corporate leadership in AI governance, urging executives to prioritize alignment with brand and societal values, intellectual property protection, and data governance.

The panelists also addressed the role of government in regulating AI. Minister Bailey discussed the importance of government involvement in shaping the rules governing technology, highlighting the need for proactive measures to ensure job creation and support workforce transitions. Professor Sundararajan agreed, stressing the need for an infrastructure that enables individuals to transition between occupations with dignity, mitigating the potential for economic inequality and political polarization.

The conversation broadened to encompass the concept of micro-credentialing and its potential to facilitate workforce transitions. Minister Bailey cited British Columbia’s experience with forestry transition and micro-credentialing as a model for addressing potential job displacement due to AI. Professor Sundararajan emphasized the importance of confidence-building and mentorship in supporting individuals through career changes.

Finally, the panelists offered insights into the obstacles and opportunities leaders should anticipate in the coming years. Professor Sundararajan cautioned against prioritizing technological returns over potential risks, urging leaders to consider the long-term implications of their decisions. Minister Bailey highlighted the importance of addressing bias in AI, particularly in areas like finance, to ensure equitable outcomes.

The discussion concluded with a call for thoughtful leadership and proactive measures to navigate the challenges and opportunities of the rapidly evolving technological landscape.