World Economic Forum Annual Meeting 2024 - Davos
Gerold Dreyer
Market Access | Export Promotion | Impact Measurement | Startup Ecosystem Building
Nearly 3,000 policy-makers, business executives, international organization and civil society leaders, academics and innovators from around the world came together for the 54th Annual Meeting of the World Economic Forum from 15-19 January 2024 to rebuild a basis of trust, generate new ideas and develop partnerships that can improve outcomes for people, economies and the planet.
“We must rebuild trust – trust in our future, trust in our capacity to overcome challenges, and most importantly, trust in each other,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. “Trust is not just a feeling; trust is a commitment to action, to belief, to hope.”
Collaborative Impact
Throughout the week, sessions featured the latest proposals for progress on global security, trade, economic growth, jobs, climate and nature action, the energy transition, technological disruption, and health and well-being. The full programme is available?here.
“At a time when global challenges require urgent solutions, innovative public-private collaboration is necessary to convert ideas into action,” said B?rge Brende, President, World Economic Forum. See an overview of the key themes highlighted during the Annual Meeting 2024 below:
Global cooperation - the Forum’s recently released Global Cooperation Barometer 2024 set the stage for discussions by highlighting key areas where cooperation is possible, despite a more competitive global context. Sessions examined regional partnerships, addressed ways to strengthen “North-South” collaboration and considered measures to shape an effective and inclusive trade system, with key initiatives such as the Global Alliance for Trade Facilitation and the TradeTech initiative offering steps for practical, actionable reforms.
The economy - sessions addressed the latest economic developments including industrial strategies, debt, the new high-rate reality and the jobs outlook, featuring leaders from international organizations, financial institutions and top economists. The Forum’s first Future of Growth Initiative will drive a two-year effort on the quality of growth. The Global Risks Report 2024 identifies the top risks for the near term as well as the next decade, while the latest Chief Economists Outlook focused on expectations for the global economy in 2024.
Climate, nature and energy - the Forum is building on the COP28 momentum and outcomes to scale the deployment of renewable energy, drive energy efficiencies and address energy demand, and protect and restore nature. The Forum will also advance the work of key initiatives, including the First Movers Coalition, Alliance of CEO Climate Leaders and Financing the Transition to a Net-Zero Future, and launched new initiatives to mobilize the energy transition investment required in the "Global South" and unlock investment for a nature-positive future.
Technology - the Forum aims to maximize the opportunities of rapid technological advancement while understanding and managing the risks. The meeting saw the release of the global cybersecurity outlook and insights on artificial intelligence. Sessions advanced the work of the EDISON Alliance to increase digital inclusion and the AI Governance Alliance to advocate for the responsible global design, development and deployment of inclusive AI systems.
Human development - the focus was on placing people at the centre of economic and technological transformations. Sessions addressed income inequality, social mobility, modern supply-side economics, gender equality, and efforts to improve health and well-being. Key initiatives included the Reskilling Revolution and the Gender Parity Sprint, as well as new efforts on an Equitable Transition and on Women’s Health parity.
Arts and culture programme - it included the 30th Annual Crystal Awards and over 35 Cultural Leaders, focused on the protection and preservation of the Amazon and its indigenous communities, the fight for gender equality, and the need to address forced displacement, natural disasters, planet pollution, mental health and well-being.
Africa at Davos 2024
Davos 2024 presented a timely opportunity to ring the alarm and delve into the policy and public-private partnerships that could rapidly scale the African economy.
The meeting saw a keen focus on economic growth from African delegates and the launch of the Private Sector Action Plan, a first-of-its-kind initiative between the World Economic Forum and the African Continental Free Trade Area (AfCFTA) Secretariat. The initiative is comprised of 40 global companies. This white paper presents a bold and visionary action plan, co-created by the World Economic Forum and the Friends of the African Continental Free Trade Area (AfCFTA), containing goals, initiatives and commitments from industry leaders in four priority sectors: automotive, agriculture and agro-processing, pharmaceuticals, and transport and logistics - which have a combined worth of $130 billion.
The announcement came after President Paul Kagame of Rwanda and President Nana Akufo-Addo of Ghana, together with the United Nations Development Fund, launched Timbuktoo, a start-up fund with an initial $1 billion target to leverage Africa's youth and dynamism.
The fund is expected to provide financial support to innovative and dynamic startups, spurring economic growth, job creation and technological advancements across the continent. By encouraging entrepreneurship, the Timbuktoo Iniative aims to contribute to the development and empowerment of Africa's youth in the rapidly evolving global economic landscape.
Speaking at a session where panellists discussed the?schism between the global North and South, Rwandan President Paul Kagame alluded to capacity building as one way to ensure that Africa remains up-to-speed with global developments, especially in times of crisis.
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?Jobs, skills and AI
The?future of supply chains, and the vital importance of trade cannot be over-emphasized - but also the significance of a properly skilled workforce. French President?Emmanuel Macron?called for the creation of jobs to support the green transition, alongside investment in AI and climate. And, he said, that education needs to be more relevant to the needs of the labour market and in response to AI.
Speakers in the?Race to Reskill?session looked at the changes underway, particularly as a result of the digital and green transitions. But, as Coursera's?Jeff Maggioncalda?explained, tech can help accelerate reskilling - for example through rapid, cost-effective translation of Coursera's materials into other languages.
However, while AI offers great potential, again speakers emphasized the need for governance. Microsoft President,?Brad Smith, said he expects to see more convergence in global regulation, while?António Guterres?and Spanish Prime Minister,?Pedro Sánchez,?both called for enhanced efforts around AI governance.
Useful links:
#WEF24
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1 年Thank you for the highights Gerold Dreyer