The new map of strategic dependencies
How raw materials, supply networks and technology competition are redefining where global enterprises remain exposed.
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Technology, software and artificial intelligence
Build durable technology value as AI reshapes software economics, product architecture and the boundaries between models, platforms and applications.
Discover the macroEditorial overview
Articles
From AI pilots to enterprise performance
What separates companies that scale AI from those that accumulate experiments�and how operating models, economics and governance determine whether adoption creates measurable value.
Read articleFocus
Banking is entering an era of faster markets and more programmable money
AI, tokenization and stablecoins are beginning to change trading, payments and financial infrastructure while regulation remains uneven.
Critical minerals are becoming an industrial-policy problem as much as a mining one
Copper constraints, concentrated refining and export controls are pushing resource security into national and corporate strategy.
Strategic challenges
Can governments scale AI without scaling public-sector risk with it?
The challenge is moving beyond pilots while strengthening data governance, procurement, transparency and evidence that technology actually improves services.
Where should chipmakers invest when markets and governments want different things?
The challenge is balancing commercial demand, sovereign incentives and export restrictions across extremely capital-intensive technology cycles.
POV
The future of agriculture will not be solved by technology alone
Food production remains biological and local; innovation wins only when it survives weather, farmer economics and fragmented operating conditions.
Autonomous transport will be won by fleet economics, not demonstration quality
The decisive question is whether autonomous capacity can outperform human-operated alternatives across the full cost of service.
Strategic impact
Portfolio restructuring is becoming central to chemical-sector competitiveness
Persistent overcapacity is forcing sharper choices across assets, geographies and product chains rather than reliance on cyclical recovery.
Volatile markets increase the value of physical intelligence and optionality
Trading advantage increasingly depends on understanding inventories, logistics and policy alongside conventional supply-demand balances.
What we observe
Software companies often add AI features while protecting pre-AI pricing assumptions
Copilots can improve the product while simultaneously undermining seat-based economics by reducing the human labor using it.
Travel companies often mistake post-pandemic pricing power for permanent demand strength
Exceptional willingness to spend can normalize, exposing propositions that relied more on scarcity and pent-up demand than differentiation.