In its final chapter, the first edition of this book identified five challenges that international commercial arbitration would “have to face if it is to develop in the future in Hong Kong and elsewhere.” Those five challenges were: (1) the rise of international commercial courts (especially, the Singapore International Commercial Court), (2) the high cost of international commercial arbitration, (3) capacity-building among judiciaries, (4) capacity-building among young arbitrators, and (5) China's Belt and Road Initiative (BRI). I acknowledged in the first edition that the five challenges were “by no means the only ones facing international commercial arbitration.” But I believed that the five challenges were those upon which I could usefully comment based on my personal experience. Reflecting on what I wrote just under a decade ago, I marvel at how innocent and naïve I was. I seem to have been writing about a different world in a century long past. I would not today identify the same set of five challenges as pressing matters with which the international commercial arbitration needs to grapple. Of course, capacity-building among judiciaries and young arbitrators in the handling of transnational arbitration is important. But I would now single out (a) the increasing resort to artificial intelligence (AI) in arbitration, (b) the pitfalls of anti-globalism, (c) the imperative of promoting diversity, and (d) increasing awareness of climate change as areas crying out for urgent attention from international commercial arbitration stakeholders.