Global warming, conflicts and AI in focus at Davos

Global warming, conflict in the Middle East, lingering Russian Ukraine war and Artificial Intelligence will be at the top of the agenda at Davos. Although a global canvas, regional conflict can cast a long shadow — like the war in Ukraine did a year ago, prompting organizers to exclude Russian delegations. Israel’s three-month war with Hamas in Gaza, and the U.S. and British airstrikes on Houthi militants in Yemen, who have fired missiles into Red Sea shipping lanes, are looming large. A testament to how technology has taken a large and growing slice of attention in Davos, the theme of artificial intelligence “as a driving force for the economy and society” will get about 30 separate sessions. The dizzying emergence of OpenAI’s ChatGPT over a year ago and rivals since then has elevated the power, promise and portent of AI into greater public view.

AI in education, transparency about the technology, its ethics and impact on creativity are all part of the menu — and the Davos Promenade is swimming in advertisements and displays pointing to the new technology. Joe Biden was once a regular at Davos, but has not attended it as the US President. This year is no different. Top climate scientists from around the world reported this month that average global temperatures last year obliterated the record highs — raising the urgency level. John Kerry, who is stepping down as Biden’s climate adviser, takes part in a panel discussion on a U.S.-backed initiative that aims to draw the private sector into development of low-carbon technologies. Global economic growth is estimated to fall to its lowest rate in three decades by 2030 amid the ongoing economic and geopolitical shocks, says a new report. Davos is a powerful combination potentially, of a lot of concern about the environment, and a lot of high-powered finance present. The WEF also launched its 'Future of Growth' initiative, a two-year endeavour aimed at charting a new narrative for economic growth and supporting policymakers from around the world, together with economists and other experts, in identifying the best pathways in balance growth, innovation, inclusion, sustainability and resilience goals.

A report pointed out that most countries continue to grow in ways that are neither sustainable nor inclusive and are limited in their ability to absorb or generate innovation and minimise their contribution and susceptibility to global shocks. Releasing the Future of Growth Report 2024 ahead of its annual meeting of world leaders, the World Economic Forum (WEF) said this downturn is exacerbating a range of interconnected global challenges, including the climate crisis and a weakening social contract, which are collectively reversing progress in global development. The report called for a new approach to economic growth that balances efficiency with long-term sustainability and equity, examining speed, and quality together. Analysing the quality of growth across 107 economies, it found that high-income economies score high on innovation and inclusion, while lower-income economies are on sustainability.