Back to resources
Share on
January 2024
The Improvability AI team recently returned from an intense and productive week in Davos, Switzerland during the World Economic Forum’s Annual Meeting. Amidst the world's ongoing challenges and uncertainties, leaders from various sectors came together to tackle the pressing issues facing our planet.
Here are some key insights we gathered:
Constructive and Productive Mood: Despite the global "polycrisis," characterized by issues like climate change, pandemics, war and social inequality, leaders acknowledged these challenges while actively redefining their organizations to thrive in the Volatile, Uncertain, Complex, and Ambiguous (VUCA) world.
Emphasis on Public-Private Cooperation: The WEF once again highlighted the significance of collaboration and joint initiatives as the solution to global challenges. Collaboration on climate change, sustainability and artificial intelligence (AI) were particularly highlighted this year, aligning perfectly with Improvability AI's mission.
Climate Initiatives: Building on the momentum from COP28, where Improvability AI was also present, more than 20 ministers and heads of investment promotion agencies came together to address sustainable growth within economies. One of the most exciting initiatives by the World Economic Forum (WEF) are the "First Movers Coalitions" for both the Industry and Food sectors. These coalitions continue to onboard new member companies, forming the world's largest demand signal for revolutionary climate technologies in high emission industries such as steel and cement. On the food side, the coalitions aggregate procurement demand for low-emission agricultural commodities, accelerating the adoption of sustainable farming practices, innovations, and transitional funding. At Improvability AI, we recognize the critical importance of these initiatives and believe that AI can play a crucial role in analyzing demand-side signals. Our AI platform is actively developing tools to improve the discoverability of these trends and suppliers, enabling global procurement teams to adjust their supply chain accordingly.
AI Domination: Artificial intelligence (AI) was everywhere in Davos, from the facades of corporate pavilions on Promenade Strasse to the official programme. It took center stage in discussions, which revolved around finding a balance between the potential benefits of AI and concerns regarding security, privacy, safety, accountability, and ethical use. The atmosphere was filled with optimism, as participants recognized the potential of AI and new technologies to tackle global problems. Notably, there was a strong focus on the positive impact of AI in addressing challenges like climate change and achieving economic prosperity.
Further AI insights
Responsible AI Deployment: Governance, regulation, and the equitable distribution of AI's benefits were also key topics. Both the public and private sectors emphasized the importance of responsible AI deployment, along with the establishment of regulatory frameworks. A human-centric approach to AI development and deployment, addressing ethical questions beyond jobs and privacy, was seen as the best way forward.
Limited Internal Experiments: Surprisingly, while AI's potential to transform various functions was acknowledged, in our discussions with leaders it became apparent that few companies are actively experimenting with its capabilities and limitations. Many leaders expressed a general lack of knowledge about AI and used Davos as an opportunity to educate and familiarize themselves with the technology. We used the opportunity to give primers and demonstrations to many leaders and investors.
The Improvability AI team left Davos with validation for the technology and products we are developing. In the coming months, we will bring new modules to market, providing sustainability professionals with tools for efficiency gains and impactful initiatives. Improvability AI aims to be at the forefront of transforming industries with responsible AI deployment, ensuring a sustainable and productive future for all.