Davos Takeaways from A to Y
What happened in #Davos? Every year, I try to figure out a shorthand summary of the dozens of conversations and meetings with government, business, and social sector leaders that I have at the World Economic Forum ’s annual meeting. This time, I realized I could do this using vowels—a simplistic device maybe, but hopefully also a useful one. So here goes:
- A is for ACTION. Most Davos meetings are about big concepts: multistakeholder orientation
- E is for ENERGY. We heard a lot this week about solving the energy trilemma
- I is for INNOVATION and INCLUSION. The progress in new climate technologies is so exciting, from wind to batteries and from carbon capture to agriculture. Of course, new innovations go far beyond climate. You couldn’t be in Davos this week without hearing about ChatGPT and the enormous implications of generative AI. The digital and AI revolution is entering its next phase, with all the uncertainties, opportunities, and challenges that presents. The launch of BCG X made a big splash, and we are eager to help our clients lead the way.
Inclusion also continues its forward march. Like other topics, the focus has shifted from concept to action: how to deliver on commitments to diversity, equity, and inclusion and how to help society do the same. For me, a personal highlight was when our new Chief Diversity Officer Nadjia Yousif gave a terrific speech and compellingly asked us to shift our focus from the “so what?” to the “so who?”
- O is for OPTIMISM. Reading the headlines at the beginning of Davos could make you want to crawl back into bed. Even so, many CEOs at the meeting were cautiously upbeat. We are not out of the woods. The war in Ukraine, US-China relations, global trade , and the near-term emissions trajectory don’t warrant optimism at this point. But US inflation improvements in Q4, the new Inflation Reduction Act to accelerate climate investments, European resilience, and an expectation of a post-pandemic recovery in China starting in Q2 are creating more confidence in the business community. Even some of last year’s skeptics are acknowledging green shoots of optimism.
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- U is for UNCERTAINTY. If 2022 taught us one thing, it’s the need for humility in predicting what’s ahead. War in Ukraine, lockdowns in China, disruptions in supply chains, and massive weather events all showed how expectations in January can rapidly go off track. At one CEO lunch, more than half the participants refused to take a view on the outlook for 2023 given the uncertainties they perceived. Those unknowns will put a premium on building resilience and agility
And finally, I will cheat a little on the last one:
- Why is about PURPOSE. The World Economic Forum has always had a sense of purpose at its core, but until relatively recently many of the companies attending Davos were not nearly as articulate on this point. That has changed in recent years. Today, most leaders arrive in Davos with a sharper understanding of why their organizations exist and how they will make a distinctive difference in the world. You see evidence of this in billboards and on stage, but you also hear it in private conversations when the cameras and microphones are off. For me, that has been one of the most encouraging parts of an intense five days.
So that’s my take. Davos was great for connecting, learning, and creating a spirit of collaboration. But the hard work to translate that into action and impact in 2023 still lies ahead. We’ve come down from the mountain, and now it’s time to get to work.
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2 年Thanks for the summary, and congrats about BCG X :)
Naren Advertising & marketing
2 年Thanks for sharing
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2 年Thk's Rich. ??