Microsoft Chairman and CEO Satya Nadella stated that the priority for the global economy must center on building a frontier ecosystem rather than just a frontier model to ensure value flows broadly across every company, industry, and country. He noted that this structural transition requires organizations to establish a continuous learning loop where human capabilities and artificial intelligence compound together, preventing a small number of centralized AI systems from capturing all economic returns. Nadella stated that the ongoing technological transition differs fundamentally from any previous platform shift, calling it "a mind-bender" that changes how work is conceptualized. He said companies must build both human capital and token capital, defined as the firm's owned AI capability, adding that "human agency will be the driver of token capital growth." Nadella warned against repeating mistakes from the first phase of globalization, where entire industrial economies faced severe hollowing out due to outsourcing, stating, "Let us not bring that dynamic into the AI era, with a small number of AI systems capturing all."