2023

How to Navigate the Perfect Storm?

Helsinki, 29 June - 1 July

The 2023 EBLC Northern Light Summit was held under the title “How to Navigate the Perfect Storm”,  reflecting  on challenges and opportunities in a world of increasing uncertainty. Central themes discussed in the sessions were power relations, US-China relations, green transition, nuclear energy, artificial Intelligence (AI), European security, and Russia’s future after Putin.  

The notion of complete decoupling between the United States and China was dismissed, highlighting the interdependence of the global economy. Listening to the perspectives from the Global South was emphasised. Africa's relations with the US and EU were considered to be not ideal, and the need for genuine interest in Africa's development was stressed. 

Africa was seen as a resilient, hopeful continent, whose economic prospects are not very good. Meanwhile, the world economy was seen as stable while with potential cracks stemming from the high inflation and increasing public and private debt.  

The potential of AI was compared to that of the printing press revolution, unleashing unseen leaps of productivity. Nevertheless, its role as a “co-pilot” was highlighted to keep control in the human hands. AI and other disruptive technologies were seen as significant drivers but required rules to lessen the dangers of misuse. 

Russia’s future was seen as highly uncertain, and Putin's successor could pose further risks but also opportunities. The ongoing support for Ukraine is vital, although the West is getting war fatigued.  

In the green transition, the electrification and decarbonization of industries were emphasized, including the role of nuclear power. Energy efficiency and sustainability were regarded as crucial, with the need to optimize grid efficiency and scale up carbon-neutral technologies.  

Building resilience in businesses and societies was deemed crucial in navigating the "perfect storm".   

Speakers and participants included Chris Miller, the Author of Chip War, Philosopher Bernard-Henri Lévy, Brad Smith, Vice Chair and President of Microsoft, and Roberta Metsola, President of the European Parliament.