Investor (INVE) Investor dialog summary

Macroeconomic and geopolitical environment

• Globalization is giving way to increased protectionism, with ongoing wars and trade tensions creating uncertainty for long-term business decisions.

• Board-level decision-making is more complex due to unpredictable global events, requiring greater caution and adaptability.

• Rising oil prices and freight costs from Middle East conflicts are expected to impact company income statements with a lag, increasing input costs and affecting consumer demand.

Competitiveness and industrial policy

• Key priorities include education, R&D, infrastructure, and energy policy, with a call for political consensus on financing nuclear and wind power.

• Fierce competition from China and the U.S. is highlighted, with China now leading in innovation and speed of product development.

• Shortening working hours is seen as counterproductive given global competition.

AI and technological transformation

• AI is viewed as a transformative force, comparable to electrification, impacting all portfolio companies and requiring proactive investment.

• Emphasis on technological optimism, with more opportunities than risks, but a need for strong governance and workforce transition planning.

• Early adoption of AI is considered essential for survival and competitiveness.