How AI is shaping the future of the world at Davos 2024

“The future is not something that happens to us, but something we create.” — Vivek

Artificial intelligence (AI) is one of the most powerful and transformative technologies of our time. It has the potential to solve some of the biggest challenges facing humanity, such as climate change, poverty, health, education, and security. But it also poses some risks and ethical dilemmas, such as privacy, bias, accountability, and human dignity. How can we ensure that AI is used for good and not evil? How can we harness its benefits and mitigate its harms? How can we shape its development and governance in a way that reflects our values and aspirations?

These are some of the questions that were discussed and debated at the World Economic Forum’s Annual Meeting 2024, which took place in Davos, Switzerland, from 15 to 19 January. The theme of the meeting was “Artificial Intelligence as a Driving Force for the Economy and Society”, and it featured several sessions, reports, and initiatives on AI, innovation, and technology. The meeting brought together nearly 3,000 leaders from government, business, civil society, academia, and media, who shared their insights, perspectives, and visions on how AI can help us create a better future for ourselves and the planet.

In this article, we will summarize some of the key highlights and takeaways from the meeting, and explore how AI is changing the world in various domains and sectors. We will also provide some tips and resources on how you can learn more about AI and get involved in its development and governance. Whether you are a developer, a channel partner, or a curious citizen, you will find something of interest and value in this article. So, let’s dive in and see what happened at Davos 2024!

AI and the economy

One of the main topics of discussion at Davos 2024 was how AI is impacting the economy and creating new opportunities and challenges for growth and jobs. AI is expected to boost global GDP by 14% by 2030, adding $15.7 trillion to the world economy1. AI is also expected to create 58 million net new jobs by 2022, as well as new skills and roles for workers2. However, AI also poses some risks and uncertainties, such as displacing workers, increasing inequality, and disrupting markets and industries. How can we ensure that AI is inclusive, fair, and sustainable? How can we prepare and empower workers for the future of work? How can we foster innovation and collaboration across sectors and regions?

Some of the sessions and reports that addressed these questions were:

• AI and the Future of Work: This session explored the latest research and trends on how AI is affecting the labor market and the skills and competencies needed for the future of work. It also discussed the policy and business implications and recommendations for creating a human-centered and resilient workforce.
• AI and the Future of Growth: This session examined the economic and social impacts of AI on growth and development, and the opportunities and challenges for different regions and sectors. It also highlighted the best practices and initiatives for fostering a competitive and inclusive AI ecosystem.
• AI and the Future of Trade: This session analyzed the effects of AI on trade and globalization, and the implications for rules and regulations, standards and norms, and cooperation and coordination. It also showcased the examples and innovations of how AI is enhancing trade and cross-border flows.
• Gen-AI: Artificial Intelligence and the Future of Work: This report by the International Monetary Fund (IMF) assessed the exposure and vulnerability of workers and countries to AI, and the potential productivity and wage gains from AI adoption. It also provided policy recommendations for enhancing the benefits and mitigating the risks of AI for the future of work.
• The Global AI Index: This report by Tortoise Media ranked and compared 54 countries on their AI readiness and performance, based on six dimensions: talent, infrastructure, operating environment, research, development, and government strategy. It also identified the strengths and weaknesses of each country and the best practices and lessons learned from the leaders and laggards.

AI and society

Another major theme of Davos 2024 was how AI is affecting society and creating new possibilities and challenges for human rights, ethics, and values. AI has the potential to improve the quality of life and well-being of billions of people, by enhancing access to education, health, justice, and other public services. But it also raises some serious concerns and dilemmas, such as privacy, security, bias, discrimination, and accountability. How can we ensure that AI is aligned with human values and respects human dignity? How can we protect and promote human rights and democracy in the age of AI? How can we establish and enforce ethical principles and standards for AI development and use?

Some of the sessions and reports that tackled these questions were:

• AI and the Future of Ethics: This session explored the ethical challenges and opportunities of AI for society and humanity, and the frameworks and guidelines for ensuring ethical AI. It also discussed the role and responsibility of different stakeholders, such as governments, businesses, civil society, and individuals, in shaping and governing AI ethics.
• AI and the Future of Human Rights: This session examined the human rights implications and risks of AI for individuals and groups, and the legal and regulatory measures and mechanisms for protecting and promoting human rights in the digital era. It also highlighted the examples and initiatives of how AI is advancing human rights and social justice.
• AI and the Future of Democracy: This session analyzed the political and social impacts of AI on democracy and governance, and the threats and opportunities for civic engagement, participation, and representation. It also showcased the innovations and solutions of how AI is strengthening democracy and empowering citizens.
• AI Ethics Toolkit: This toolkit by the World Economic Forum (WEF) provided a practical and user-friendly guide for developing and implementing ethical AI principles and practices. It also offered a self-assessment tool and a repository of resources and case studies for learning and sharing best practices on AI ethics.
• AI and Human Rights: Opportunities and Risks: This report by the WEF and the United Nations (UN) assessed the impact of AI on 10 human rights, such as privacy, freedom of expression, and non-discrimination, and the challenges and recommendations for ensuring human rights-compliant AI. It also presented a human rights-based approach and a framework for governing AI and human rights.

AI and the environment

Another important theme of Davos 2024 was how AI is affecting the environment and creating new opportunities and challenges for climate action, sustainability, and biodiversity. AI has the potential to help us monitor, understand, and mitigate the environmental issues and risks we face, such as greenhouse gas emissions, air pollution, deforestation, and natural disasters. But it also has some environmental costs and impacts, such as energy consumption, carbon footprint, and waste generation. How can we ensure that AI is green and eco-friendly? How can we leverage AI to achieve the Sustainable Development Goals (SDGs) and the Paris Agreement? How can we foster collaboration and innovation for environmental solutions and resilience?

Some of the sessions and reports that addressed these questions were:

• AI and the Future of Climate Action: This session explored the latest research and trends on how AI is helping us tackle the climate crisis and reduce greenhouse gas emissions. It also discussed the policy and business implications and recommendations for accelerating and scaling up AI for climate action.
• AI and the Future of Sustainability: This session examined the environmental and social impacts of AI on sustainability and development and the opportunities and challenges for different sectors and regions. It also highlighted the best practices and initiatives for enhancing and measuring AI for sustainability.
• AI and the Future of Biodiversity: This session analyzed the effects of AI on biodiversity and ecosystems, and the implications for conservation and restoration. It also showcased the examples and innovations of how AI is protecting and restoring biodiversity and nature.
• Harnessing Artificial Intelligence for the Earth: This report by the WEF and PwC identified and evaluated over 80 AI applications for the environment across four domains: climate change, biodiversity, oceans, and water. It also provided a framework and a roadmap for scaling and deploying AI for the Earth.
• The AI Carbon Footprint Challenge: This report by the WEF and the University of Cambridge estimated the carbon footprint of AI systems and models, and the factors and trade-offs that affect it. It also proposed a methodology and a tool for measuring and reducing the AI carbon footprint.

Conclusion

AI is a powerful and transformative technology that is changing the world in various ways. At Davos 2024, leaders and experts from different fields and sectors shared their insights, perspectives, and visions on how AI can help us create a better future for ourselves and the planet. They also discussed and debated the opportunities and challenges, the benefits and risks, and the ethical and social implications of AI for the economy, society, and the environment. They also highlighted the need and the urgency for collaboration and innovation, for governance and regulation, and for education and empowerment, to ensure that AI is used for good and not evil, and that it is aligned with human values and aspirations.

If you are interested and curious about AI and its impact on the world, you can learn more and get involved in various ways. You can watch the videos and read the reports of the sessions and initiatives mentioned in this article, as well as other resources and publications on AI, on the WEF website. You can also join the online community and platform of the Centre for the Fourth Industrial Revolution, which is a global network of hubs that collaborate with governments, businesses, civil society, and experts to co-design and pilot innovative approaches to the policy and governance of AI and other emerging technologies. You can also participate in the AI for Good Global Summit, which is an annual event organized by the International Telecommunication Union (ITU) and the UN, that brings together AI innovators, leaders, and stakeholders to showcase and discuss the latest developments and solutions of AI for achieving the SDGs and addressing global challenges.

AI is not only a technology, but also a vision and a responsibility. It is up to us to shape and govern it in a way that reflects our values and aspirations, and that serves the common good and the public interest. As the WEF founder and executive chairman Klaus Schwab said at Davos 2024, “AI is not a threat, but an opportunity. It is not a destiny, but a choice. It is not a problem, but a solution.”

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