April 17, 2026
At the 2026 World Bank/IMF Spring Meetings, CFA Institute former President and CEO Margaret Franklin joined GZERO’s Tony Maciulis to discuss how investors are adapting to a world where disruption has become the baseline.
Franklin said today’s environment is defined by increasingly frequent “shock moments,” noting that recent years have brought a rapid sequence of crises including the pandemic, banking instability, and geopolitical conflict. The key challenge for markets, she explained, is not just reacting to volatility but understanding its duration and depth. She emphasized that markets are generally able to price uncertainty, but struggle when risks evolve into longer-term structural shifts.
"The more we get certainty, the more we're going to be able to build portfolios to meet client objectives,” she noted, pointing to the importance of clarity in investment decision-making. Franklin also highlighted how global policy cycles are reshaping energy and sustainability strategies, often swinging between competing priorities before settling into new equilibria.
Turning to AI, she stressed governance and accountability as central concerns, stating, “AI is not accountable. Humans are accountable for the outcomes.” She added that while AI is already enhancing productivity and analysis, its broader impact on jobs, risk, and financial systems will depend on how institutions manage both opportunity and disruption.
This conversation is presented by GZERO Media in partnership with Microsoft. The Global Stage series convenes global leaders for critical conversations on the geopolitical forces reshaping our world
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