Despite economic challenges, South African businesses have remained resilient and innovative, panellists said during this year’s Inn8 Invest Summit, held on September 12.

Noting an improved sense of optimism and sentiment following the elections in May, the CEO panel discussed the complexities of managing South African companies, highlighting local and global growth opportunities.

The panellists, which included Ethos Capital CEO Peter Hayward-Butt, Motus CEO Osman Arbee and Southern Sun CEO Marcel von Aulock, discussed business resilience across the financial, automotive and tourism sectors.

“South Africa is actually changing. We have got a bit of an aura, particularly in emerging markets now . . . we're actually one of the leaders out there and I think with the structural changes that the management teams have made over the last four or five years … I think we really are well poised for growth,” said Hayward-Butt.

He pointed out that improved sentiment has led to businesses becoming more confident in their investments.

Meanwhile, Arbee discussed the impact of supply chain challenges on business, noting the importance of partnerships between the private sector and government to improve infrastructure and economic conditions.

He argued that government should partner with the private sector to unlock skills in the sector.

AI AND ASSET MANAGEMENT
Meanwhile, speakers on the global asset manager panel discussed the implications of rapidly developing advancements being made in AI, highlighting various benefits and considerations in this regard.

Sands Capital chartered financial analyst Matthew Luneburg posited that, with the rate of acceleration in innovation, AI is “the next logical step”, noting that AI is broadly applicable across various sectors.

“We can embrace it and adapt to it, or we can shun it and risk significant disruption, maybe even obsolescence,” he said.

“On the whole, we're approaching this new era of AI with a great deal of humility,” he added.

The panellists thus expressed cautious optimism about the future of AI.