Estoril Conferences 24th of October

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Policies Talks

What if businesses can be part of the solution?

Introduced by Nova SBE’s own Miguel Ferreira, LSE’s professor Alex Edmans delivers a speech in which he explores the bewitching idea that companies that incorporate in their objectives both purpose and profits perform better in the long run. The alure of this keynote goes beyond our desire for that premise to be truth, as the academic work of Professor Edmans greatly focuses on this relationship between profit and purpose. In this sense, companies may now have the chance not only to achieve financial success, but to contribute directly to improve society. This debate is particularly interesting in the context of our university, that every year certifies thousands of students that will come to take part in the next most successful businesses.

Artificial Intelligence and Technology Talks

Soon after, the audience had the delight of following the launch of the newest Digital Data and Design Institute, founded by Nova SBE in partnership with Nova Medical School and Harvard Digital Data Design Institute (D^3). The presentation included an amusing theatre in which Nova SBE’s dean Pedro Oliveira participated and a video message from the Chair and Co-Founder of Digital, Data, & Design Institute at Harvard, Karim Lakhani.

This institute aims at helping companies navigate this environment in which new technologies are promptly emerging, while integrating them in their business practices, by integrating both academic research and practical applications.

And in case you are wondering where the facilities of this institute will be located, they will encompass the previous televisions and sofa’s area near Pingo Doce and the space right above them, in the KMPG galleries.

So, what can we expect of this brand-new AI driven world?

To enter this discussion, we were presented with the pop star entrance of Derek Ali, a mixing engineer that worked with Kendrick Lamar, Childish Gambino, Cardi B, SZA, Brockhampton, amongst many others. Ali discussed with Jen Stave the inevitable question of what the place of AI in the landscape of creative work will be. Should creatives be worried about losing their job? Should parents impose the learning of the craft before the use of AI? How will the industry change in 5 years?

As a means to showcase the key role that AI may be able to play in music production, Derek Ali created 100% AI generated music demos using prompts. The audience ended up enjoying a fado song about Portugal’s President Marcelo Rebelo de Sousa “Canto ao Nosso Presidente” and a catchy pop song about Nova SBE’s dean, Pedro Oliveira. AI might be able to unveil new realms of creation by allowing artists to access inspiration more easily.

The late afternoon’s panel discussion “AI and the Future of Talent” moderated by Nikolaj Malchow-Moller, focused on the implications of artificial intelligence for the future of talent, labor markets, and industry and society organizational structures. Panelists included Francisco Veloso, Rembrand M. Koning, and Matthew Prince. The key issue highlighted was the displacement and possible unemployment for experienced workers. As such, it was highlighted how, historically, technological advancements did not eliminate jobs, but rather created them. For example, contrary to fears, the introduction of ATMs did not reduce employment. In fact, the number of workers in banks increased, as bank workers simply transitioned to higher-level, more specialized roles. This suggests that although AI, like previous emerging past technologies, may make certain jobs obsolete, it will create new, more specialized and perhaps higher paying jobs. Matthew Prince further sought to deconstruct the fear surrounding AI, highlighting how it is often fabricated and introduced by the very people who are developing and implementing the technology in the hope of dissuading new entrants into the industry, and possibly encourage regulatory barriers, so as to keep their competitive advantage.

Gender differences in AI adoption was also explored, as women, in general, are less likely to engage with AI. Some argued that this might allow women to continue developing valuable skills like rational and logical thinking, while others worried that men may gain a competitive edge due to their greater familiarity with AI. Furthermore, AI can assist with the education sector, by facilitating roles traditionally filled by teaching assistants (TAs), such as class notes and assignments. This could reshape the structure of academic institutions, particularly the responsibilities of faculty and support staff. Rather than replacing human workers entirely, AI may enable them to focus on other areas, such as developing soft skills. In fact, AI should be viewed as a tool to complement human labor, not as a replacement for critical thinking or decision-making. While AI can streamline technical analysis, it cannot substitute for judgment. The growing presence of AI will put more pressure on managers to develop skills in critical thinking, judgment, and interpretation—capabilities that cannot yet be automated. Business schools and organizations need to focus on developing these skillsets to ensure that workers can effectively navigate AI-integrated environments.

The debate also touched on other topics: Will AI accelerate inequality? How is global competition on AI development being handled? It was largely emphasized how allowing the USA or China to create AI monopolies might erode diverse cultural perspectives, creating a more homogenized global landscape, as the American or Chinese way of thinking prevails. The panel further called for the development of European AI, which encompassed “European sensitivity”, so as to adapt these tools to the European reality and way of thinking.

The nest guest on the theme of AI was Robert Seamans, professor at NYU, who discussed the expected transformative impact of Artificial Intelligence, emphasizing how technological advancements drive economic growth. He drew parallels between these emerging innovations and earlier technologies such as railways, steel production, telephones, and motor vehicles, all of which played a significant role in economic expansion. However, Seamans was careful to note that new technologies are not simply “plug and play.” They require time to become productive and for widespread adoption to occur. The importance of complementary assets—those additional resources and capabilities needed to fully leverage new technologies—was highlighted as a critical factor in this process.

Seamans provided an example from Cleveland, Ohio, where robots are used to manufacture and sell metal parts to larger firms. He pointed out that the effectiveness of these robots depends heavily on specific complementary assets. For instance, the grip at the end of a robotic arm must be precisely designed for the task at hand. Seamans explained that while a robotic arm might cost $30,000, the necessary complementary assets, like specialized grips, can require an additional investment of $60,000. Furthermore, achieving maximum productivity involves trial and error, as it takes time to determine the best combination of complementary assets. He argued that this investment in time and resources is also true for artificial intelligence technologies. In this sense, human capital also plays a particularly crucial role when it comes to AI adoption: workers who understand both their industry and the technical aspects of AI are best positioned to leverage AI effectively. The speaker referenced research on AI occupational exposure scores, which measure how different jobs are impacted by AI. These scores showed clear correlations with demographic factors such as salary, education, and creativity. Higher salaries tend to be associated with greater exposure to generative AI, as do higher levels of education and creativity. So, he also strongly encouraged firms to invest in their workers: the long-term success of AI and other big innovations will depend not just on the technologies themselves, but on the people who understand how to apply them.

Next, Michael Sheldrick, author of Ideas to Impact, delivered a thought-provoking speech on how to foster active citizenship and drive social change in the age of AI. He began by discussing ways to build engaged global citizenship, highlighting initiatives he took part in like the Global Citizen app: the app encourages users to take meaningful actions to support communities, fostering projects in Africa and a notable 2021 initiative in inland Brazil. Sheldrick drew an interesting comparison between social media’s role in the past and the influence of generative AI today. Just as social media transformed communication and engagement, AI is expected to revolutionize industries and reshape societal structures.

Shifting his focus to the music industry, Sheldrick noted its rapid growth, particularly in Africa, where a flowering music scene is creating numerous job opportunities. One practical example of such is Kendrick Lamar’s possible first tour in Africa, emphasizing the broader cultural and economic impact of such events. He then pushed forth the belief that everyone can do something, that everyone has a role to play, that we need to work together to achieve meaningful results. This approach is referred to as “policy entrepreneurship,” where leaders across sectors must collaborate to create policies that harness AI’s potential while addressing its challenges.

Pedro Gardete, President of the Scientific Council of Nova SBE, closed the AI section of the event, expressing gratitude to everyone involved. He shared a story about a strategic vision exercise he conducted with students in a focus group, where he asked them what they wanted most from university. Many replied they wanted to learn about what companies wanted from them, that is, a real-world application of the academic knowledge they acquire at university. Pedro Gardete highlighted how discussing and introducing AI in the academic environment sets NOVA apart, as a leading pioneer in new technology application. The speaker proposed an exercise to the audience, who were asked to share a story with their neighbors about a time they felt supported. He then asked the audience to ask themselves whether AI could have replaced that same support, sparking reflection on the irreplaceable nature of empathy and human connection, even in an increasingly automated world.

Closing session

In the closing section of the event, renowned football player Pepe took center stage to discuss his life and career. While originally planned as a traditional panel session with Executive Director of Estoril Conferences Laurinda Alves, the format shifted into something more spontaneous: Pepe and the moderator invited the children attending the conference onto the stage, giving them the opportunity to ask their idol questions directly.

The children’s questions covered key moments in Pepe’s career and personal life, asking about his early years, including his arrival in Portugal and his experiences playing for top clubs, such as his triumph in the Champions League, which the athlete recalled with pride and joy. Throughout the unconventional interview, Pepe also opened up about his mistakes and lessons learned throughout his career, sharing with the children that success is not just about winning, but also about resilience, personal growth, and learning from failure.On a final note, the star was asked what he plans for his future, now that he is retiring from the football playing field. While he did not give specific details, Pepe spoke about his desire to stay connected to football in some capacity, whether through coaching, mentoring young players, or other endeavors. His message to the young audience was clear: no matter what comes next, it’s important to stay passionate, keep learning, and remain humble in the pursuit of one’s goals.