The first time Tan Su Shan came on Kopi Time, it was right after the war in Ukraine had broken out and energy and food prices were spiking worldwide. Four years later, another war and another bout of inflation and associated risks are to the fore. We begin our conversation with Su Shan comparing the two episodes, with strategies to guide the bank and its clients through the fog of war. It’s also a year since the reciprocal tariff shock, which coincided with her taking over the top job at DBS. We discuss how businesses are learning to live with the chronic uncertainty emanating from trade relations with the US, and thriving nonetheless, especially with trade outside the US. Our conversation then moves on to tech, especially the impact of AI and implication for jobs. Reflecting on her recent trips to the US and China, Su Shan highlights both the promises and challenges of the AI boom. We conclude with a discussion on the future of banking given the spate of disruptions taking place in the fintech arena.