As millions of people globally do not have access to conventional energy, the world cannot simply ask emerging economies “to switch to whatever advanced economies are doing,” Aramco’s chairman said at the Future Investment Initiative (FII) Priority summit in Hong Kong. H.E. Yasir O. Al-Rumayyan made the comments during a fireside chat titled “What Are Humanity’s Priorities?” The event marked the first time the FII Priority summit has been held in Asia. Global South With COP28 taking place at the same time in Dubai, there was attention in Hong Kong on the likely impact of the energy transition on the “Global South” — which refers to underdeveloped and developing countries in regions such as Asia, Africa, and Latin America. Al-Rumayyan stressed that massive investment is still needed in renewables. He added that the world cannot “immediately go from point A to point B without thinking of the consequences and the impact on different economies.” He drew attention to the potential of increasing the gap between the Global South and North, adding, “We need to be more considerate.” Global impact Al-Rumayyan was also asked whether he thought Artificial Intelligence (AI) would have a positive global impact. “With the right framework, the right regulations, and the right investments, I think AI will definitely be a force for good,” he said. Recent widespread interest in the technology, Al-Rumayyan said, has come after governments and consumers started to realize how powerful tools such as ChatGPT and OpenAI are. He added that it was imperative to ensure the technology was governed by strong regulations.