Special Episode for the 2024 RANE & NASDAQ Risk Summit: Fireside Chat with Jared Cohen
Sep 12, 2024
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Jared Cohen, Co-Head of the Goldman Sachs Institute and former CEO of Jigsaw at Alphabet Inc., dives into the intertwining worlds of geopolitics, technology, and corporate governance. He discusses the challenges faced by global companies amidst US-China tensions and the critical need for strategic agility. Cohen shares insights on the complexities of artificial intelligence, its potential risks, and how businesses must proactively navigate the evolving geopolitical landscape. His reflections underscore the importance of resilience and ethical practices in governance.
The intersection of geopolitics and technology, particularly U.S.-China relations, forces businesses to reassess their roles and responsibilities.
Corporate boards must develop expertise in geopolitical landscapes to navigate risks and identify opportunities in a volatile environment.
Deep dives
The Interplay of Geopolitics and Technology
The discussion highlights the significant intersection between geopolitics and technology, particularly the impact of the U.S.-China relationship. As geopolitical tensions heighten, businesses are increasingly finding themselves caught in the crossfire, necessitating a reassessment of their roles and responsibilities. The advent of generative AI represents a critical development that adds complexity to this landscape, offering both risks and opportunities for businesses to navigate. Understanding this interplay is essential for companies to proactively engage with the geopolitical environment rather than merely reacting to it.
Opportunities in Geopolitical Volatility
In an era of heightened geopolitical volatility, there are emerging opportunities for businesses to align their strategies with shifting global dynamics. Companies often overlook the potential for commercial success to also serve as a form of diplomacy, where mutual interests can create beneficial partnerships across borders. For instance, as sovereign wealth funds in the Middle East evolve under new leadership, their ambitions increasingly intertwine with corporate goals, providing avenues for innovative collaborations. Engaging with these countries about pivotal issues, such as artificial intelligence, is crucial as they redefine their economic strategies.
Guidance for Boards in Navigating Risk
Corporate boards must develop a nuanced understanding of the geopolitical landscape to effectively navigate risks and seize opportunities. This involves recognizing that every major global company has a geopolitical role to play, and boards must choose whether to define this role or let it be defined for them. Critical to this process is ensuring that they possess the relevant expertise and framework to analyze and respond to geopolitical shocks. Companies that actively engage in this dialogue are better positioned to make informed decisions and avoid being left vulnerable.
Identifying and Anticipating Geopolitical Shocks
Rather than attempting to predict specific events in an unpredictable geopolitical climate, companies should focus on identifying potential archetypal shocks and their corresponding inflection points. This strategic foresight allows businesses to prepare for various scenarios and develop responsive strategies to mitigate risks. The dynamic geopolitical landscape includes numerous ongoing issues, such as U.S.-China tensions and emerging global conflicts, which require constant evaluation and adaptability. Being vigilant regarding these developments enables companies to maintain resilience in a rapidly changing environment.
As part of RANE and Nasdaq’s recent risk summit on September 9th, RANE founder and chief collaborative officer David Lawrence is sitting down with a number of industry leaders to discuss major compliance, security, and geopolitical issues that are top of mind for global organizations.
In this special episode, RANE Founder and Chief Collaborative Officer, David Lawrence, sits down with Jared Cohen, Co-Head of the Goldman Sachs Institute and President of Global Affairs at Goldman Sachs.
Jared joined the firm in 2022 as a partner and is involved in the Management Committee and the Firmwide Client Franchise Committee. Previously, he was the CEO and founder of Jigsaw at Alphabet Inc. and served as Google's first Director of Ideas and Chief Advisor. He has also worked on the Secretary of State’s Policy Planning Staff and advised Condoleezza Rice and Hillary Clinton. Cohen is a NYT bestselling author with six books
RANE is a global risk intelligence company that delivers risk and security professionals access to critical insights, analysis and support to ensure business continuity and resilience for our clients. For more information about RANE's risk management solutions, visit www.ranenetwork.com.
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