Headquartered in Singapore, DBS Bank, one of Asia's leading financial services groups, embarked on a multi-year digital transformation under CEO Piyush Gupta in 2014. It was then that DBS also began experimenting with AI to drive value for the business and customers. As the bank scaled the use of AI, it developed an internal P-U-R-E framework for ethical AI governance. In 2022, DBS started experimenting with Generative AI use cases. It had to consider how best to leverage its existing capabilities and adapt its governance frameworks in deploying Gen AI to drive additional value while managing emergent risks.
This note highlights how machine learning is being used to decarbonize (reduce GHG emissions) several key sectors including electricity, transportation, building, industrial processes, and agriculture -- and how machine learning is being used to accelerate efforts to remove carbon dioxide from the atmosphere (carbon removal).
The central objective of the social-sector organization Kudumbashree, in the state of Kerala, in India, was to alleviate poverty in the state by facilitating the formation of income-generating micro-enterprises (MEs) led by women. In February 2024, the executive director at Kudumbashree was considering implementing a goal-setting framework that would align the various stakeholders to common objectives and ensure systematic and accurate collection of information related to various interventions. However, most management goal-setting frameworks were applied to for-profit settings, so he wondered if they would work in the social sector. He was considering the objectives and key results framework, which was increasingly popular and required review of the results in the short term. Would applying this framework to Kudumbashree facilitate ME formation and sustenance?
After five years abroad, Soumaya Merhi, a Lebanese German entrepreneur, returned to Lebanon in 2013 with the goal of introducing superfoods to the Middle East. Despite limited resources, she launched TAQA Snacks (TAQA) in 2017, prioritizing sustainability alongside financial growth. By 2018, TAQA had seen remarkable 400 per cent growth, established a dedicated team, and ingrained its socio-environmental values. However, Lebanon’s severe economic crisis in 2019, compounded by COVID-19 disruptions, posed significant challenges. Despite setbacks, Merhi remained dedicated to her values and commitment to sustainability, investors, employees, and vision.
DeHaat was a technology-led platform offering end-to-end agriculture services to Indian farmers with an aim to improve inefficiencies in the agriculture value chain. By September 2022, after 10 years of operations, the company was well-established in India’s agricultural technology sector, and its network of centres across 12 states distributed seeds, pesticides, fertilizer, and farm machinery to farmers and offered them farm advisory services, financial services, and market linkages for selling farm produce. But despite DeHaat’s remarkable growth, profitability still eluded the company. In 2023, the company needed to determine what its founders could do to improve profitability and create stakeholder value. They had already received multiple rounds of funding. Should they now focus on existing markets, explore new domestic markets or exports, expand their offerings, or better control their costs to enhance credibility in the financial market? Or should they slow down growth to strengthen internal operations?
In August 2023, the chair of the Pune-based Dalit Indian Chamber of Commerce and Industry (DICCI), reflected on the organization’s 20-year journey to empower Dalits through entrepreneurship, independence, confidence, and job creation. Despite DICCI’s efforts, societal challenges and fears of disclosing Dalit identity persisted. As the chair considered ways to boost membership and retain existing members, he wondered whether emphasizing collective identity and solidarity could further empower Dalit entrepreneurs. Could celebrating successful Dalit role models, establishing mentoring programs, or prioritizing skill development further uplift the community?
CZM Foundation Equipment (CZM) was a manufacturer of foundation drilling rigs founded in Brazil in 1976. The company set up a subsidiary in the USA in 2012, which was so successful that it turned into the headquarters. Twelve years later, CZM’s executives were considering expansion in Europe, which could provide CZM with opportunities to enhance the design and development of its machines, improve the efficiency of its global supply chain, and open the door to new markets. It already had an engineering department in Italy and relationships with suppliers in Italy, France, and Germany. However, CZM executives were concerned about the highly competitive environment in Europe, which could make establishing a European subsidiary a risky choice. They also faced two related decisions: a) which country to choose, and b) which entry strategy to use, either a wholly owned subsidiary or an equity alliance with a partner.
This note explores the concept of a "moral compass" for making difficult decisions in leadership roles. It argues that the standard view of a moral compass as a simple, internal guide is inadequate for complex situations. Instead, it proposes that our true moral compass is our personal moral wisdom, which helps us answer four fundamental questions when facing hard choices: What really matters? What is my responsibility? What will work? And what can I live with as a person and professional? Ultimately, we learn what is right by deciding what is right. Our final, elusive moments of decision resemble black boxes. Because we don't know what happens inside them, it becomes especially important to personally answer the four fundamental questions and shape what goes into the black boxes.
CZM Foundation Equipment (CZM) was a manufacturer of foundation drilling rigs founded in Brazil in 1976. The company set up a subsidiary in the USA in 2012, which was so successful that it turned into the headquarters. Twelve years later, CZM's executives were considering expansion in Europe, which could provide CZM with opportunities to enhance the design and development of its machines, improve the efficiency of its global supply chain, and open the door to new markets. It already had an engineering department in Italy and relationships with suppliers in Italy, France, and Germany. However, CZM executives were concerned about the highly competitive environment in Europe, which could make establishing a European subsidiary a risky choice. They also faced two related decisions: a) which country to choose, and b) which entry strategy to use, either a wholly owned subsidiary or an equity alliance with a partner.
In March 2017, the chief executive officer of Uniquest Infra Ventures Pvt. Ltd (Uniquest) was facing several critical decisions. The National Highway Authority of India had terminated the concession agreement of a 30-year project for the upgrading the Jetpur Somnath highway in India. Uniquest was an equity partner of Jetpur Somnath Tollways Limited, the concessionaire for the project. Uniquest was risking losing its ₹5 billion investment due to the termination of the concession agreement, which cited failure to commence construction on the Junagadh bypass. The National Highway Authority of India’s decision to terminate the concession agreement presented a major challenge for Uniquest and its lender partners. However, it also had broader implications for the Indian infrastructure sector. The termination risked undermining government efforts to attract foreign and domestic investments in future highway projects. The premature termination of the concession agreement could also lead to equity and debt write-offs, which could impact the development of India’s public-private partnerships landscape. The chief executive officer of Uniquest had to consider whether to challenge the termination of the project, whether independently or in partnership with the project’s lenders, or if the termination payment amount of just over ₹2.2 billion should be contested instead. With a current debt of over ₹6.4 billion for the project, Uniquest and the project’s debtors were facing major potential losses arising from the decision to terminate the project.
The Tata Group took over control of the loss-making state-owned Air India and the airlines it operated it operated from the Government of India on January 27, 2022. The Tata Group now faces financial performance issues and lags behind one of the leading aviation industry front-runners in India in terms of market share. The re-acquisition of Air India also brought about challenges of how to amalgamate three diverse cultures to make a single Tata Group culture, and how to inculcate the Tata Group’s values to turn Air India profitable. What should Air India do if employees are not integrated with Tata Group culture? Air India leadership is weighing its various options and pondering whether to integrate three airlines and become one of the prominent airlines in the country and the world, or operate them autonomously as economy or premium airlines without amalgamating the diverse cultures.
The booming United Arab Emirates (UAE) healthcare sector, fuelled by rising demand and chronic conditions, presented both challenges and opportunities. In August 2022, Burjeel Holdings, a leading healthcare provider, was exploring digital transformation strategies and anticipating an upcoming initial public offering. A successful digital transformation strategy incorporating emerging technologies like telehealth and artificial intelligence (AI)–powered diagnostics would not only enhance patient care but would also project a positive image to potential investors. However, the chief operating officer needed to address several challenges, including employee resistance to new technologies, a culture accustomed to established practices, and a need to avoid disrupting core operations. Recognizing the importance of a people-centric approach, he aimed to foster a culture of innovation where employees felt empowered to contribute. Would he be able to bridge the gap between tradition and innovation? Could Burjeel leverage technology to become a leader in the digital healthcare revolution?
Taylor Swift’s Eras Tour began on March 17, 2023, and quickly gained popularity, becoming the highest-grossing tour of all time and generating over US$1 billion. The Eras Tour was designed to immerse the audience through each of the eras of Swift’s life as she transitioned through 10 unique sets spanning over three hours. The Eras Tour was a big step up from Swift’s previous tours, incorporating extravagant costumes, elaborate audiovisuals, and a complex stage design. The show featured a giant catwalk, moving platforms, and several different sets for each scene, enabling the audience to feel connected to each era. Behind the scenes, Swift’s production crew worked to ensure the show ran smoothly, with one team backstage, two teams on the floor managing the show, and a third team under the stage, managing costume changes and performer placement. The Eras Tour had seen unprecedented demand, with millions of fans trying to secure show tickets. On November 17, 2022, Swift’s team faced scrutiny around its partnership with Ticketmaster, as the platform became overwhelmed by 14 million fans seeking tickets and an unprecedented number of bot attacks.<br><br>For Swift and her team, questions arose: How could the team continue to bring joy to fans, potentially attract new audiences, ensure smooth operations and sales for future performances, and further strengthen Swift’s brand, popularity, and reputation? Which other markets should Swift visit? How could the team sustain and even elevate the success of the show? How was success defined at a global and societal level? What came next?
Could rice become as crucial as petrol in the fight against climate change? In 2023, Nguyen Duy Thuan, General Director of Loc Troi Group (Loc Troi) Vietnam, was sceptical. His company, the largest rice producer in the country, faced a pivotal moment in its journey. Following a successful pilot program involving 1,000 farmers, the company had started scaling sustainable rice production (SRP). Sustainable rice had much lower emissions and used fewer resources than traditional rice production, which accounted for 12% of global methane emissions and significantly threatened the climate. The pilot had reduced pesticide use by 12%, water use by 25%, greenhouse gas emissions by a third, and flooding and straw burning by using organic treatments. It had also lowered production costs and increased profit margins by 18%. But despite such demonstrable benefits, Loc Troi continued to struggle to convince farmers to grow sustainable rice, which constituted only 5% of its total export volume, due to the time-consuming and costly new practices. Scaling sustainable rice required large investments and without government grants, could be financially draining for the company. Loc Troi's other businesses, like vegetable seeds and fertilisers, were also profitable, so over-investing in rice could hinder their growth. Thuan pondered on how to scale sustainable rice and tap into future demand with Loc Troi's expertise.
V-shesh Learning Services Private Limited (v-shesh), an enterprise recognized for its social impact, had been dedicated to promoting disability inclusion since its founding in 2009. Established by two college friends, v-shesh aimed to bridge the gap between persons with disabilities (PWD)/disadvantaged youth and organizations that viewed inclusion as an opportunity. The company’s very dynamic staff and robust processes and activities were dedicated to achieving its goals concerning the employment of PWD. Some of the challenges PWD faced included limited access to assistive technology, a lack of clarity regarding the specific interview processes employers had adopted for PWD, and negative attitudes and biases held by nondisabled individuals.