Roland van der Vorst

Roland van der Vorst, we are very happy to have you as a guest at the Leaders in Finance Sustainable Finance Event on the 29th of January. Would you like to share a bit about yourself and your role, and about your work at the intersection of innovation and finance?

I am very glad to be there. I am Head of Innovation for Rabobank’s, of our international and wholesale franchise and CEO of Rabobank Carbon Bank.

Why finance and innovation? I think finance is a hugely important sector, and it is not easy to innovate within that sector. But if you succeed in doing so, you can really have an impact. For me, innovation is a very powerful instrument to create impact.

You have spent a large part of your career focusing on innovation. Nowadays we see many developments in innovation, especially in terms of AI and other emerging technologies. How would you define meaningful innovation today, especially in the context of these emerging technologies?

The core of this is the question of what is meaningful. With AI we are dealing with a very special breed of technology. The science fiction novelist Stanisław Lem distinguishes between two types of technologies: instrumental technologies, which we use, like the mobile phone, the hammer, the wheel and the car, and existential technologies, which shift our idea of who we are as humans, like the telescope or the microscope.

I believe AI is not only an instrumental technology, but also an existential one. It redefines who we are as humans, and that makes it very exciting. We always assumed we were the most intelligent species on the planet, and then suddenly AI suggests that there may now be another highly intelligent species. So we have to redefine who we are as humans and what the core of humanity really is.

At the same time, we also have to rethink our relationship with nature. We thought we were the rulers of nature, and now we see that we are simply an interesting part of it. We need to nourish that relationship. All of this makes the present moment extremely exciting, because it tells us something fundamental about who we are as humans.

You will be speaking at the event about sustainability in finance. From your perspective, what are the most promising ways in which AI can contribute in that space?

I see at least three ways. First, precision. AI helps us make a more precise reallocation of resources. Secondly, what I call chain intelligence. In a value chain, for example a food value chain, AI can help us make the chain smarter. And thirdly, prediction. AI can help us better predict what is going to happen, which will become increasingly important in the face of climate change and climate risk. So to me, these are three main contributions that AI can potentially make.

As you said, AI is human-led, and it raises existential questions about who we are as humans. We also know that using AI to drive sustainability requires a cultural shift from the people managing these technologies. It demands both an organizational shift and a cultural shift.

What would you say are the biggest barriers to this change within financial institutions? And do you have any tips for leaders on how to overcome those challenges?

I think the main barrier is a very universal one, and that is fear. Fear is not useful in this era because it closes off your mind. You become very short-sighted when you are fearful, as if a lion is standing in front of you.

That is a big risk in the current times. When you are walking in a dark forest, the last thing you need is a narrow mind and a narrow view. You have to open all your senses in order to navigate an uncertain world. And I think that is the real task we have as leaders: to remain open.

How would you recommend dealing with that fear?

You can only be open if you overcome your fear. If you are fear-led, your instinctive reaction will be to become quite short-sighted. Look the beast in the eye and keep your eyes open. I think that is something we could all benefit from.

Again, we are very much looking forward to having you at the event. You are opening a session specifically on AI and sustainability. From your perspective, what are you most looking forward to, and why do you think it is important to have this conversation?

I think it is a great lineup. I am really looking forward to seeing all the people there, people with deep expertise and people in leadership positions. I believe we need to learn from each other, so I am very much looking forward to that.

And why is it important now? Because there is a lot of uncertainty. It is also not easy to stand for sustainability in the current culture. That is exactly why it is so important to be part of the discussion.

See you on the 29th of January, and thank you so much for taking the time for this interview, Roland!