Over 60 governments and heads of state have descended on Davos in Switzerland for the 54th World Economic Forum (WEF). It will provide crucial space for debates, strategies, and presentations to be adopted worldwide. It’s a key driver for trust, transparency, and accountability across participating countries.
An estimated 1,600 business leaders and over 800 top CEOs and chairpersons are registered to attend and participate in this week’s sessions.
Firstly there won’t be a lack of inspiration. With over 150 global innovators, tech pioneers, and unicorns on the guest lists.
This year’s theme, Rebuilding Trust, aims to rebuild trust, transparency, and unity among nations. According to the organizers, the program “embodies back to basics.” Thus, they hope to facilitate constructive dialogue among the leaders in the coming days.
There is much to look forward to from a logistics and business perspective.
Credit: World Economic Forum
Future with supply chain
There is a rapid leap to innovation by incorporating artificial intelligence on the shop floor. However, some fail to keep up with the speed. Therefore they risk not only falling behind but losing to their competitors.
This year, the World Economic Forum has drawn speakers like Tobias Meyer, CEO of DHL group, Kathy Wengel, and worldwide vice president of Johnson & Johnson’s supply chain.
In a world where political tension, war, and conflict influence the supply chain, trade, and manufacturing on a global scale, it’s important to be transparent about the obstacles faced in this industry.
The World Economic Forum hopes to answer questions like the determinants of today’s global supply chain strategies and what trade reconfiguration scenarios might impact these strategies in the short and long term.
AI in a turbulent world
Artificial Intelligence has the potential to unlock new economic possibilities to push the world into a new phase. Therefore, business leaders and lawmakers are preparing to deliberate on how different sectors can benefit from AI.
In the midst of all of this, there are valid concerns about the responsibility for safe development and regulations. Therefore, WEF asks pertinent questions: how will AI interface with other transformative technologies, quantum computing, and biotechnology?
Credit: World Economic Forum
The WEF says: “AI can only be as good as the data it is trained on. The generic data used for today’s most famous large language models will not help companies address their very granular problems.” It further calls for more relevant AI for businesses to train and work with real-life enterprise data.
It stresses the importance of generative AI for businesses to be reliable and responsible. “There is an ongoing discussion about how AI models trained on and working with public internet data may infringe on privacy and copyright regulations. In the business world, this kind of “gray zone” mode of operation is unthinkable,” according to the WEF.
Christian Klein is the CEO of SAP SE, a German multinational software company based in Walldorf. He says: “Nations and regions that pioneer trustworthy AI for business will see a much faster and broader adoption of generative AI across companies and industries.”
About the author
Mia is a multi-award-winning journalist. She has more than 14 years of experience in mainstream media. She's covered many historic moments that happened in Africa and internationally. She has a strong focus on human interest stories, to bring her readers and viewers closer to the topics at hand.
