World Economic Forum 2018

The World Economic Forum 2018 in Davos

Earlier this week, the annual World Economic Forum has started. It takes place the 48th time already. In the past, much criticism has been voiced about the meeting in the Alps – and far too often this was the only thing remembered in the end. But this year’s forum promises to be a little more meaningful.

First of all: Trump is present. And according to him, Davos represents the power-hungry and greedy elite that makes life so difficult for ordinary Americans. Thus, we a curious what the US president will say about Davos. However, he’s very likely to make no statement, as half of those present have been acquainted with him for decades.

Prime Minister talks at forum

Moreover, Indian Prime Minister Narendra Modi spoke once again at the forum for the first time in 20 years. And he held a speech that was full of idealism. Thus, the powerful and rich address and deal with unity and understanding among nations and people since the very start of the forum. That’s just how the Veda – an ancient Indian text of faith – demands it. Canadian Prime Minister Trudeau followed Modi: He did not aspire world peace with his speech, but at least equality and thus peace between the sexes.

Everything is about AI

However, the core topic of Davos is another one, but one that will do no less but completely change the working world and the society of the future: Digitization, or the so-called fourth industrial revolution. It will create many new opportunities in the coming decades but will also make many jobs redundant. And actually, this revolution has already begun. One has to find solutions which ensure that digitization will not end in disaster for the vast majority of people living today, but at the same time provide new opportunities. 

When everyone becomes unemployed, consumption will collapse as well. How exactly humanity can deal with this gigantic revolution of the world order remains a mystery. Solutions that will enable an optimal future are currently being searched and tested by multiple sites and organizations, including the ManpowerGroup, which has multiple delegates at the forum.

Davos will not find the panacea

However, even Davos will not come up with a panacea for this huge challenge. Many are currently talking about AI as being the silver bullet, at the world economic forum as well. But basically it is not clear what AI should deliver in the end. For sure, it would be possible to use different algorithms to solve distribution problems by efficiency. But making better use of our resources does little unless large blocks are broken elsewhere – for example through knowledge transfer, free and comprehensive education, uniform labor laws and open trade.

This article is based on an atricle on CNET, January 2018

Image Source: Youtube / Trump News Stream