Canada Pension Plan Investment Board announces plans to embrace “disruption”
The Canada Pension Plan Investment Board (CPPIB) reveals it is “embracing disruption” by focusing its operations towards emerging shifts in the world’s economy.
The Canadian government’s pension plan will target industries such as autonomous vehicles as well as focusing on the growing, aging population.
The firm has invested in Zoox, the California-based autonomous vehicle company which has set the goal of create a robo-taxi fleet by 2020, the Vancouver Courier reported.
“We've been embracing disruption, whether that disruption is technological, whether it's demographic, or economic, or climate-change related,” Mark Machin, CPPIB’s Chief Executive Officer stated to the Canadian Club in Toronto on 21 November.
The CEO regarded technology as a widespread structural change, including artificial intelligence (AI), automation, Internet of Things (IoT), and fintech.
“We have an obligation to analyze how these technologies will impact each sector.”
“How they're going to disrupt industries, and how they're going to impact our investments, both now and in the decades ahead.”
“As the North American baby boomer generation ages, and retires, they have an increasing desire to travel and see the world.”