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"Everything can be taken from a man but one thing: the last of the human freedoms - to choose one’s attitude in any given set of circumstances, to choose one’s own way." - Viktor Frankl - Author of Man's Search For Meaning

Quote: Viktor Frankl – Author of Man’s Search For Meaning

At Techfest 2026, Marc Wilson, Managing Partner of Global Advisors, delivered a compelling opening keynote exploring the rapid evolution of artificial intelligence from a simple operational tool into a core driver of competitive strategy and business model design. Introduced by host Tony van Niekerk, the session kicked off by framing technology not as an efficiency gimmick or a mere rollout of better chatbots, but as a fundamental decision layer capable of rewriting the rules of customer relationships, risk underwriting, and distribution across the insurance sector. Drawing on Global Advisors’ first-hand experience as an entirely rebuilt, AI-native firm, Wilson contrasted the current AI landscape with the hype of the early 2000s .com bubble. He emphasised that while past digitisation waves focused on making existing processes faster or cheaper, today's machines insert complex inference directly into critical business steps—from automated customer agents independently renegotiating policies to upstream prevention models reshaping the very nature of risk. The address challenged industry leaders to move beyond operational testing and proactively decide where trusted intelligence should sit before market expectations are permanently altered by fast-moving competitors. Key Takeaways:The Autonomous Customer Threat: How third-party software agents are beginning to intermediate client relationships, pricing, and policy switching without your permission. Three Critical Boardroom Questions: Assessing where your true value is created, who genuinely owns your customer relationship, and locating your irreplaceable strategic "moat". The Reframe: Why AI is not a tool you adopt, but an economic and decision layer forming permanently underneath your corporate infrastructure. The Timing Gap Risk: Why early movers who scale AI-led business model changes lock in exponential advantages that late adopters can never realistically close. From Payer to Prevention Engine: Lessons from top industry performers moving from reactive claims handling to proactive, data-led risk reduction ecosystems. Building the "Harness": Why 98.4% of your corporate AI focus needs to be on governance, enterprise memory, and workflow safety rather than the models themselves.

techfest 2026 – AI as a business model

"EBITDA margin is a financial efficiency metric that measures a company's core operating profitability as a percentage of its total revenue, calculated by dividing EBITDA by net sales." - EBITDA margin - Financial accounting

Term: EBITDA margin – Financial accounting

"The Price/Earnings-to-Growth (PEG) ratio is a stock valuation metric that measures the relationship between the price-to-earnings (P/E) ratio and a company's expected earnings growth. It helps investors determine whether a stock's price is justified by its potential to generate more future profit." - Price/Earnings-to-Growth (PEG) ratio - Finance

Term: Price/Earnings-to-Growth (PEG) ratio – Finance

"To presume to point a man to the right and ultimate goal - to point with a trembling finger in the right direction is something only a fool would take upon himself. (...) But a man who procrastinates in his choosing will inevitably have his choice made for him by circumstance." - Hunter S. Thompson - American author

Quote: Hunter S. Thompson – American author

"EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation, and it measures a company's core operational profitability by stripping away non-operational expenses, financing costs, and non-cash accounting charges. Calculated by adding these expenses back to net income, it allows investors and analysts to make direct, 'apples-to-apples' comparisons between competitors." - Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) - Financial accounting

Term: Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) – Financial accounting

"The Interest Coverage Ratio (ICR) is a financial metric that measures a company's ability to pay the interest on its outstanding debt. It tells investors and lenders how many times over a business can pay its current interest expenses using its operating profits." - Interest Coverage Ratio (ICR) - Finance

Term: Interest Coverage Ratio (ICR) – Finance

"Loneliness does not come from having no people about one, but from being unable to communicate the things that seem important to oneself, or from holding certain views which others find inadmissible." - Carl Jung - Psychotherapist

Quote: Carl Jung – Psychotherapist

"The asset turnover ratio measures how efficiently a company uses its assets to generate revenue. It indicates how many dollars of sales are created for every dollar invested in assets. A higher ratio generally reflects better operational and management efficiency." - Finance -

Term: The asset turnover ratio – Finance

"...the race is over for some people. The frontier is now an accelerating system in which the leading models will help produce the next leading models. That we would reach this threshold has been predicted by many people for years. It has now been crossed." - Andrew Curran - X post

Quote: Andrew Curran – X post

"I know what many of you are feeling about [AI]. I can hear you." - Eric Schmidt - Former Google CEO in response to University of Arizona students boos and jeers

Quote: Eric Schmidt – Former Google CEO

"The Arbitrage Pricing Theory (APT) is a multi-factor asset pricing model that estimates an asset's expected return based on its sensitivity to various macroeconomic risk factors, such as inflation, interest rates, and GDP growth. It operates on the law of one price, assuming that any mispricing in the market creates risk-free arbitrage opportunities that investors will quickly exploit, thereby driving the asset's price back to its fair equilibrium value." - Arbitrage Pricing Theory (APT) - Corporate Finance

Term: Arbitrage Pricing Theory (APT) – Corporate Finance

"[The accelerating pace of technology gives the appearance of] approaching some essential singularity in the history of the race beyond which human affairs, as we know them, could not continue.” - John von Neumann - Mathematician

Quote: John von Neumann – Mathematician

"[LTCM style events] won't repeat, but it will rhyme." - Lloyd Blankfein - Former Chairman and CEO of Goldman Sachs

Quote: Lloyd Blankfein – Former Chairman and CEO of Goldman Sachs

"The Gen Alpha and Gen Z lexicon consists of internet-born slang heavily focused on self-improvement and social dominance, exemplified by the terms mogging and maxxing. Mogging refers..." - Gen Alpha and Gen Z lexicon -

Term: Gen Alpha and Gen Z lexicon

"I'm not that worried about stable coins... if you have them, they should have the same rules and regulations as us. AML, BSA, KYC, you know, insurance, you know, disclosures, liquidity, transparency, social requirements, which we have, you know, if just a level playing field is all we asking." - Jamie Dimon - JP Morgan Chase CEO

Quote: Jamie Dimon – JP Morgan Chase CEO

"Immiserating growth is an economic paradox in which a country expands production and exports, but becomes worse off because the increase in supply drives down the price of its exports so sharply that the deterioration in its terms of trade outweighs the gains from higher output." - Immiserating growth - Economics

Term: Immiserating growth – Economics

"When life doesn't give what you want, you can be angry or sad, or you can learn about how reality works and develop principles that will work well to get you what you want.” - Ray Dalio - Bridgewater Capital founder

Quote: Ray Dalio – Bridgewater Capital founder

“There are entire sectors like private equity, like real estate, that are constipated. They can’t sell.” - Victor Khosla - Founder of credit investor Strategic Value Partners at SuperReturn Berlin 2026

Quote: Victor Khosla – Strategic Value Partners

“The benefits of technological advancement should be shared by society as a whole, rather than becoming a tool for a small number of employers to undermine workers’ rights.” - Editorial - Workers’ Daily – the official mouthpiece of China’s umbrella trade union organisation

Quote: Editorial – Workers’ Daily

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