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Business Times
2 days ago
- Business
- Business Times
Why leaders must learn to see beyond the tech hype
AT THIS year's International Artificial Intelligence (AI) Action Summit in Paris, one thing was evident: the pace of technological change is accelerating, but our ability to make informed, strategic decisions about it is lagging behind. This dissonance is already playing out across organisations. Nearly half of employees who use generative AI at work do so through tools that are officially banned by their companies. It's a paradox that speaks volumes, as leaders remain unsure of how to govern tools their employees find valuable. Yet decision-making around technology is still too often driven by instinct, fear of falling behind, or a fixation on what is new rather than what is necessary. Leaders are encouraged to adopt early, automate more and digitise faster. What they are rarely asked to consider is: Where is the real value being created, and what trade-offs come with it? Recent research conducted by Essec Business School seeks to bring greater structure to this uncertainty. By analysing the impact of six emerging technologies (ranging from generative and descriptive AI to blockchain, quantum computing, robotics, and renewable energy) across 11 key economic sectors, the study introduces a matrix-style framework for understanding where genuine disruption is unfolding. It draws on more than 300 global industry publications, academic papers, patent activity, and the sentiments of 1,000 professionals across industries, offering a data-driven lens to look past the noise. Technologies that drive value Some of the findings are intuitive. Others are deeply revealing. The most striking is the dominance of generative AI, ranked highest in perceived disruption with a score of 89.45 out of 100, reflecting its explosive growth in academic and patent literature as well as industry excitement. But despite its dominance in headlines and boardroom conversations, a closer look reveals that it remains early-stage in implementation. Many firms are still experimenting, and concerns about data governance, content quality and long-term return on investment remain unresolved. By contrast, descriptive AI, encompassing machine learning, analytics, and pattern recognition, received lower disruption scores (49.04 over 100) but is far more integrated into day-to-day operations. It powers logistics, customer segmentation, predictive maintenance and more. Its relative invisibility in public debate belies its foundational role in business value creation. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up This divergence between attention and adoption invites a more careful reading of what 'disruption' really means. Not all technologies that dominate the conversation are the ones driving value. This becomes even clearer when looking at sectoral variation. Renewable energy and storage, for instance, is championed most strongly not by the energy sector, but by real estate professionals, who view it as both a sustainability imperative and a means of future-proofing asset. An overwhelming 91.1 per cent of real estate professionals express confidence in its value. This enthusiasm is shaped by both external forces – such as sustainability mandates and investor expectations – and internal shifts, such as tenant demand for greener buildings. Other sectors show more ambivalence. The luxury industry, for example, is split on generative AI. Some view it as a creative tool that can extend brand expression; others see it as a threat to authenticity and craftsmanship. Here, the disruption is as much cultural as it is technological. Meanwhile, in automotive, blockchain continues to underwhelm. Despite years of hype around decentralised mobility and supply chain transparency, over 22 per cent of respondents in this sector expressed negative sentiment towards blockchain's potential. Adoption has remained limited, and its strategic relevance is being reassessed. These diverging sectoral responses underscore a crucial truth: no technology is universally applicable. Context is everything. A tool that may be transformative in one sector may be irrelevant or even counterproductive in another. Yet many transformation strategies still rely on blanket thinking, assuming that what works for one industry or geography must work for all. These nuances matter. They show that disruption does not follow a single path. Technologies gain or lose traction based on sector-specific conditions: regulatory frameworks, cost structures, workforce readiness and even consumer psychology. This is why a shift in mindset is needed. Leaders must move beyond digital fluency – being able to talk about technology – towards digital discernment: the ability to evaluate technologies critically, in relation to business needs, strategic goals and sectoral realities. Before asking how a technology works or how fast to deploy it, leaders must first ask why it matters and whether it aligns with what their organisation is trying to achieve. Such thinking is particularly important in economies like that of Singapore, where digital transformation is not just a business priority, but a national agenda. The Smart Nation initiative has placed Singapore at the forefront of global digital experimentation, from mobility to health and finance. But with ambition must come rigour. Calculated investment, guided by both evidence and sectoral insight, will be key to ensuring Singapore's technology ecosystem remains not just advanced, but resilient. Energy: bottleneck to innovation One of the more sobering insights from the Essec research is that energy may soon become a bottleneck to innovation. Many of the most promising technologies, especially those driven by AI and quantum computing, are also among the most resource-intensive. In Singapore's compact, urbanised economy, energy efficiency and infrastructure capacity will play an increasingly central role in determining what kinds of innovation can be scaled sustainably. These are strategic considerations that must be addressed now, not retrofitted later. None of this is to suggest that technology should be approached with fear. On the contrary, innovation holds immense potential to solve the world's most pressing challenges, from climate change to healthcare access and economic inclusion. But realising that potential depends on leadership – not just at the policy level, but within companies, institutions and communities. It calls for decision-makers who are not only open to change, but capable of navigating its complexity with maturity and foresight. Ultimately, the goal is not to win the race for adoption. It is to ensure that the technologies we choose to invest in serve the long-term needs of people, businesses and society. The leaders who will thrive in this new era will not be those chasing the next big thing, but those asking the right questions: questions about purpose, fit, readiness and impact. Understanding what's possible is no longer enough. The future belongs to those who can discern what is truly valuable. Both writers are from the Essec Business School. Jan Ondrus, a professor of information systems, heads the Essec Digital Disruption Chair, and Jeremy Beaufils is the executive director of the Essec Digital Disruption Chair.
The Star
16-07-2025
- Business
- The Star
US has told Armenia it is ready to manage transport corridor with Azerbaijan, Armenpress reports
FILE PHOTO: Armenian Prime Minister Nikol Pashinyan waves as he arrives to attend the Artificial Intelligence (AI) Action Summit at the Grand Palais in Paris, France, February 11, 2025. REUTERS/Benoit Tessier/File Photo (Reuters) -Armenian Prime Minister Nikol Pashinyan said the U.S. had offered to manage a potential transport corridor that would link the bulk of Azerbaijan to an Azerbaijani exclave via Armenian territory, the Armenpress news agency reported on Wednesday. The potential corridor, which Baku is keen to secure, would run roughly 32 km (20 miles) through Armenia's southern Syunik province, linking the majority of Azerbaijan to Nakhchivan, an Azerbaijani exclave that borders Baku's ally Turkey. Azerbaijan does not want the corridor to be controlled solely by Armenia due to concerns that Yerevan could revoke access too easily. Asked at a news conference if Armenia had received a specific proposal from Washington regarding the proposed corridor, Pashinyan said: "Yes, we have received proposals from the United States," Armenpress, a state news agency, reported. The transit link is one of several stumbling blocks to a peace deal between Azerbaijan and Armenia, neighbours in the South Caucasus region who have fought a series of wars since the late 1980s and remain arch rivals. The countries said in March they had finalised a draft peace deal, but the timeline for signing it remains uncertain. Pashinyan's comments came days after the U.S. ambassador to Turkey, Tom Barrack, said that Washington has proposed taking over the planned transit corridor. "They're arguing over 32 kilometres of road, but this is no joke. It's been going on for a decade – 32 kilometres of road," Barrack told reporters in New York last Friday, according to a State Department readout. "So what happens is America comes in and says, 'Okay, we'll take it over. Give us the 32 kilometres of road on a hundred-year lease, and you can all share it." (Reporting by Reuters; Writing by Lucy PapachristouEditing by Andrew Osborn)
Straits Times
16-07-2025
- Business
- Straits Times
US has told Armenia it is ready to manage transport corridor with Azerbaijan, Armenpress reports
FILE PHOTO: Armenian Prime Minister Nikol Pashinyan waves as he arrives to attend the Artificial Intelligence (AI) Action Summit at the Grand Palais in Paris, France, February 11, 2025. REUTERS/Benoit Tessier/File Photo Armenian Prime Minister Nikol Pashinyan said the U.S. had offered to manage a potential transport corridor that would link the bulk of Azerbaijan to an Azerbaijani exclave via Armenian territory, the Armenpress news agency reported on Wednesday. The potential corridor, which Baku is keen to secure, would run roughly 32 km (20 miles) through Armenia's southern Syunik province, linking the majority of Azerbaijan to Nakhchivan, an Azerbaijani exclave that borders Baku's ally Turkey. Azerbaijan does not want the corridor to be controlled solely by Armenia due to concerns that Yerevan could revoke access too easily. Asked at a news conference if Armenia had received a specific proposal from Washington regarding the proposed corridor, Pashinyan said: "Yes, we have received proposals from the United States," Armenpress, a state news agency, reported. The transit link is one of several stumbling blocks to a peace deal between Azerbaijan and Armenia, neighbours in the South Caucasus region who have fought a series of wars since the late 1980s and remain arch rivals. The countries said in March they had finalised a draft peace deal, but the timeline for signing it remains uncertain. Pashinyan's comments came days after the U.S. ambassador to Turkey, Tom Barrack, said that Washington has proposed taking over the planned transit corridor. Top stories Swipe. Select. Stay informed. Singapore Over 600 Telegram groups in Singapore selling, advertising vapes removed by HSA Singapore 2 weeks' jail for man caught smuggling over 1,800 vapes and pods into Singapore Singapore Jail for man who fatally hit his daughter, 2, while driving van without licence Singapore Primary 1 registration: 38 primary schools to conduct ballot in Phase 2A Singapore ComfortDelGro to introduce new taxi cancellation, waiting fee policy Singapore Here comes the sun: Less rain, more warm days in second half of July Singapore Instead of overcomplicating COE system, Govt has ensured affordable transport for all: SM Lee to Jamus Lim Singapore Baby died after mum took abortion pills and gave birth in toilet; coroner records an open verdict "They're arguing over 32 kilometres of road, but this is no joke. It's been going on for a decade – 32 kilometres of road," Barrack told reporters in New York last Friday, according to a State Department readout. "So what happens is America comes in and says, 'Okay, we'll take it over. Give us the 32 kilometres of road on a hundred-year lease, and you can all share it." REUTERS
Straits Times
08-07-2025
- Politics
- Straits Times
Armenia charges two top opposition politicians, readies indictment against another
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Armenia's Prime Minister Nikol Pashinyan waves as he arrives to attend the Artificial Intelligence (AI) Action Summit at the Grand Palais in Paris, France, February 11, 2025. REUTERS/Benoit Tessier/File Photo Authorities in Armenia indicted two senior politicians from a pro-Russian opposition coalition for corruption-related crimes on Tuesday, as prosecutors prepared to file charges against another MP. Opposition groups have decried the criminal investigation against the politicians - Seyran Ohanyan, Artsvik Minasyan and Artur Sargsyan - as politically motivated. The three are members of Armenia Alliance, a parliamentary group led by Robert Kocharyan, who served as the South Caucasus country's president from 1998 to 2008. Led by Prime Minister Nikol Pashinyan, Armenia has moved closer to the West, signalling that it wants to join the European Union and distancing itself from traditional ally Russia. But Pashinyan, who swept to power during street protests in 2018, has entered into a bitter confrontation in recent months with senior religious figures as well as a top businessman and a former political rival as he faces parliamentary elections next year. Armenian prosecutors say Ohanyan and Minasyan participated in a scheme to in which the former, then the country's defence minister, acquired a plot of land belonging to a nature reserve and built a house there. Minasyan, a former environment minister, gave his assent to the sale, investigators say. Ohanyan, the parliamentary leader for Armenia Alliance, was charged with abuse of power, money laundering, bribery and other crimes on Tuesday, Armenpress state news agency reported. The faction's secretary, Minasyan, was charged with abuse of power. Both deny wrongdoing. Top stories Swipe. Select. Stay informed. Singapore NDP celebrations to be held at 5 heartland sites, including Bishan and Punggol, on Aug 10 Singapore Keep citizens at the centre of public service, Chan Chun Sing tells civil servants Singapore Man arrested for allegedly throwing bottle at SMRT bus, injuring passenger Asia As Trump plays tariffs hard ball, Asean has little choice but to play on Asia PM Anwar called out by his own lawmakers as Malaysia's judicial crisis heats up Singapore SIA flight from Brisbane to Singapore diverted to Perth due to technical issue Sport Speeding likely cause of Diogo Jota car crash: Police Business Great Eastern could resume trading after delisting vote fails to pass; OCBC's exit offer lapses Prosecutors say the third Armenia Alliance MP, Sargsyan, participated in an attempted coup plot allegedly orchestrated by a prominent Christian cleric last month. The cleric, Archbishop Bagrat Galstanyan, is currently in detention. Sargsyan has denied involvement, according to Armenpress. Parliament on Tuesday gave prosecutors a green light to indict Sargsyan, after earlier stripping him and the two others of their parliamentary immunity. REUTERS
Straits Times
08-07-2025
- Politics
- Straits Times
Armenia charges top opposition politician, readies indictments against two others
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Armenia's Prime Minister Nikol Pashinyan waves as he arrives to attend the Artificial Intelligence (AI) Action Summit at the Grand Palais in Paris, France, February 11, 2025. REUTERS/Benoit Tessier/File Photo Authorities in Armenia indicted a senior politician from a pro-Russian opposition coalition for corruption-related crimes on Tuesday, as prosecutors prepared to file charges against two other MPs. Opposition groups have decried the criminal investigation against the politicians - Seyran Ohanyan, Artsvik Minasyan and Artur Sargsyan - as politically motivated. The three are members of Armenia Alliance, a parliamentary group led by Robert Kocharyan, who served as the South Caucasus country's president from 1998 to 2008. Led by Prime Minister Nikol Pashinyan, Armenia has moved closer to the West, signalling that it wants to join the European Union and distancing itself from traditional ally Russia. But Pashinyan, who swept to power during street protests in 2018, has entered into a bitter confrontation in recent months with senior religious figures as well as a top businessman and a former political rival as he faces parliamentary elections next year. Armenian prosecutors say Ohanyan and Minasyan participated in a scheme to in which the former, then the country's defence minister, acquired a plot of land belonging to a nature reserve and built a house there. Minasyan, a former environment minister, gave his assent to the sale, investigators say. Ohanyan, the parliamentary leader for Armenia Alliance, said he had been summoned to appear before investigators and that he disagreed with the charges, the Armenpress state news agency reported on Tuesday. Minasyan also denies wrongdoing. Top stories Swipe. Select. Stay informed. Singapore NDP celebrations to be held at 5 heartland sites, including Bishan and Punggol, on Aug 10 Singapore Keep citizens at the centre of public service, Chan Chun Sing tells civil servants Singapore Man arrested for allegedly throwing bottle at SMRT bus, injuring passenger Asia As Trump plays tariffs hard ball, Asean has little choice but to play on Asia PM Anwar called out by his own lawmakers as Malaysia's judicial crisis heats up Singapore SIA flight from Brisbane to Singapore diverted to Perth due to technical issue Sport Speeding likely cause of Diogo Jota car crash: Police Business Great Eastern could resume trading after delisting vote fails to pass; OCBC's exit offer lapses Prosecutors say the third Armenia Alliance MP, Sargsyan, participated in an attempted coup plot allegedly orchestrated by a prominent Christian cleric last month. The cleric, Archbishop Bagrat Galstanyan, is currently in detention. Sargsyan has denied involvement, according to Armenpress. Parliament on Tuesday gave prosecutors a green light to indict Minasyan and Sargsyan, after earlier stripping them of their parliamentary immunity. REUTERS
