In recent discussions at the Fortune Innovation Forum in Kuala Lumpur, Malaysia, Malina Ngai, the CEO of AS Watson, highlighted the importance of retaining relevance as the company approaches its 185th anniversary in 2026. Acknowledging the company's rich history, Ngai pointed out the legacy of AS Watson, including its early philanthropic efforts like providing a scholarship to Sun Yat-sen. Ngai expressed that while this heritage offers credibility, it is crucial for the company to evolve continually with the changing market dynamics. Ngai identified Southeast Asia as a significant growth engine for AS Watson, noting the young and technologically adept consumers in this region. She highlighted a notable preference among younger consumers for in-store shopping experiences, despite the rise of online alternatives. This demographic is also highly engaged with health and beauty products, and the popularity of Chinese beauty brands across Southeast Asia has surged due to their adept use of technology and social media for marketing and engagement. During her speech, she elaborated on the company’s strategy to create a “people-first” culture. Ngai proposed that empowering every employee to act as a leader enhances collaboration and instills a strong sense of purpose within the organization. Additionally, she revealed that AS Watson is adopting new technologies, including a generative AI protocol that will enable all employees to utilize AI tools, expanding the initial development that was limited to data teams. Looking ahead towards the future, Ngai shared her aspirations for AS Watson to remain agile and relevant for another 180 years. Her ambitions underscore the need for ongoing adaptation to consumer preferences and technological advancements, positioning AS Watson to lead in the changing retail landscape.