Bled, Slovenia, September 27th, 2024 – In the most recent edition of the BOSQAR Future Talks interview series, Philipp Rösler, former Vice-Chancellor of Germany, CEO of Consessor AG, and Deputy President of the Supervisory Board at BOSQAR INVEST, shared his thoughts on key challenges facing businesses today – AI, sustainability, and the evolving landscape of leadership.
Interviewed by BOSQAR INVEST Chairman Luka Orešković, Rösler shared insights stemming from his unique experience at the intersection of politics, business, and innovation.
The AI Revolution: Bridging the Knowledge Gap
Rösler was quick to highlight the excitement around AI, particularly in Europe, but also noted that many small and medium-sized enterprises (SMEs) struggle to apply AI to their businesses.
"Everyone is talking about AI and digitalization," Rösler said, "but particularly when it comes to SMEs, they have no real use cases for their specific business."
He stressed that companies like BOSQAR INVEST have a critical role to play in helping SMEs harness AI by offering concrete, ready-to-use applications for areas such as sales and online marketing.
But Rösler also emphasized the importance of regulation. "We need a clear legal framework where companies can maneuver," he explained, pointing out that businesses require stability and clarity to develop further.
He also touched on the darker side of digitalization – cybersecurity – and the need for businesses to be protected against AI-driven cyberattacks. "Even a stupid criminal can now use AI to create a smart attack," he warned.
Sustainability: Shifting from Prohibition to Innovation
Turning to sustainability, Rösler addressed the mixed signals coming from European policy, especially after the recent EU elections.
While there has been a strong push towards sustainability in the last few years, Rösler believes the approach has often been misguided, with governments relying too much on prohibitions rather than fostering technological solutions.
"Problems arising from technology usage cannot be solved by simply banning technologies," he said.
Instead, he advocated for a focus on better, cleaner technologies that allow industries like automotive to thrive while reducing emissions.
Rösler offered a practical example: instead of banning combustion engines, why not promote CO2-free fuels?
"Replacing 1.1 billion cars with battery-powered ones could take a century," he remarked. His message was clear – governments should set ambitious goals for sustainability but leave the path to achieving them open to technological innovation.
Leadership: Learning from the Private Sector
As the discussion shifted to leadership, Rösler highlighted the critical role that private sector leaders play in addressing modern challenges like AI and sustainability.
"The finest art of leadership is always leadership by example," he said, praising BOSQAR INVEST for its commitment to training the next generation of leaders at the Bled IEDC School of Management, of which BOSQAR is a shareholder.
He outlined three core elements of leadership: making bold decisions, being smart enough to make the right decisions (or knowing when to seek help), and having the ability to inspire others to act on those decisions.
Rösler also stressed that business leaders, by demonstrating effective leadership, can set an example for politicians.
"Business leaders are measured by their leadership daily. If they fail, they go bankrupt," he observed, drawing a distinction between the high stakes of the private sector and the more insulated world of politics.
For more insights make sure to watch the full interview with Philipp Rösler here: