My observations from Davos

The annual meeting of the World Economic Forum in 2020 was the last big event I had attended before the pandemic. Last week, I was glad to be back in Davos. Yes, I think this event is still as relevant as it used to be. But a lot was also different this time.

No, I am not necessarily talking about the lack of snow given the WEF’s late date this year.?The annual meeting took place in the light of the four big crises – climate change, broken supply chains, high energy prices and inflation, the war and geopolitical instability – that our world is facing today. The mood among participants was different; and the discussions were even more serious than usual. This shows the urgency of these crises.

“The discussions were more serious than usual which show the urgency of the four big crises the world is facing today.”

My second observation: Many of the panels I had attended were not only about addressing the problems. The debates focused on taking real action and making true progress.

Let me share a few examples from three different areas which I had personally focused most on at this year’s annual meeting: the responsible use of technology, the lessons we’ve learned from the pandemic for our healthcare system, and the sustainable energy revolution.?

Will digital trust become Switzerland’s export hit?

On Tuesday, I attended the Geneva Day at the House of Switzerland. The event was on how technology can serve humanity and – later on – how we can build more trust in technology. This is a topic I care very much about, as you might know. I guess we all agree that new technologies bring a lot of great opportunities, but also quite a few challenges. Building digital trust is essential to overcome these challenges.

Switzerland has an important role to play here.

We have a strong reputation globally for being an honest broker; and our companies and institutions enjoy a high level of trust in the world. Many international organizations have their headquarters in Switzerland. So why not use this advantage in the age of digital and make digital trust a Swiss export hit?

“Digital trust is an interesting niche for Switzerland in the global digital economy.”

That is exactly what the Digital Trust Label, which was launched by the Swiss Digital Initiative earlier this year, is aiming at. In Davos, they announced plans to expand the scope of the label and allow companies and institutions from Europe to apply for it, too.

This is an interesting niche for Switzerland in the digital economy – and I am excited to see if we will be able to set a new global standard for digital trust. ?

We’re far from being a digital health champion

While digital trust might soon become one of Switzerland’s export hits, the opposite is true for digital health.

At digitalswitzerland’s breakfast on Wednesday, this became all too clear. We are far from being a digital health champion.

One of the reasons is the regulatory framework we currently have. It does not provide the room for more ambitious solutions. Another reason: All sectors that have stakes in digital health – from technology firms, to insurers, to health providers and life science companies – need to work closer together.

My feeling is that most private actors are quite willing to do more to drive digital innovation in our healthcare system. But they can’t go ahead as long as the regulatory framework blocks rather than enables such innovation. ?

“We need the right regulatory framework for digital health to maximise value and improve the patient experience.”

One example is the electronic patient record. It could become the cornerstone of our future health system, but it requires a common electronic ID (EID) for all citizens. This would allow innovative players to process structured data and create maximum value for citizens. We can learn a lot from other countries on how to use existing data to create better patient experiences and avoid redundancies.

If we want to stay one of the most innovative countries in the world, we can’t afford to neglect digital innovation in the healthcare sector.?

Renewable energy vs. not so renewable raw materials

Being in the middle of an energy and climate crisis, many debates in Davos focused on how we can become less dependent on fossil fuels. The future belongs to renewable energies, but we often overlook one important aspect that could decide over success or failure of the energy transition: Where do all the – often scarce – raw materials, such as tellurium and neodymium, for solar panels, wind turbines or energy storage systems come from?

This was the question at an event in the SDG Tent on Tuesday. It’s not the lack of suitable locations or high costs that poses a major challenge for the transition to renewable energies – it’s the availability of scarce materials. At the current pace of the energy transition, we are going to see a supply crisis in the coming decades. That’s what all panelists agreed on.

So, what is the solution?

Producers of renewable energy technologies need to think circular right from the start. They need to come up with solutions for reusing scarce materials at the end of the product lifecycle. We can no longer afford to waste them. But circularity requires much more than building more recycling facilities. ?

“We can no longer afford to waste scarce materials if the transition to renewable energies is to succeed.”

One important aspect is to consider recycling of solar panels, wind turbines or batteries or how they could be used alternatively at the end of their lifetime already in the product design phase.

Eco-design is the answer.

It focuses on two things; expanding the lifetime of a product so it can be used longer and??making sure that the used materials can be easily recycled when a product reaches the end of its lifetime.

These were just some of the debates going on in Davos. This wide variety of topics – and the stakeholders that are involved – is one of the biggest strengths of the World Economic Forum’s annual meeting.

That’s why I am sure that it will continue to be relevant in a world that is changing fast. ???

And who knows, maybe we’ll meet in the metaverse instead of Davos for the next edition of an even more inclusive annual meeting… (look up Global Collaboration Village if you’d like to know more)