Davos 2016 - Press Conference with the Co-Chairs of the Annual Meeting 2016

TL;DR

The co-chairs of the World Economic Forum's 46th annual meeting discuss the impact of the fourth Industrial Revolution on society, including concerns about job displacement and inequality, the importance of globalized standards, and the potential for technology to bring positive change.

Transcript

good morning ladies and gentlemen welcome to this co-chairs press conference for the 46th annual meeting of the World Economic Forum which is taking place under the theme of mastering the fourth Industrial Revolution welcome to all of you welcome to to everyone watching on lifetime cost I'm very pleased to be joined by our coaches at this annual me... Read More

Key Insights

• 🧑‍⚕️ Concerns about job displacement caused by technology highlight the need to invest in sectors that create jobs and ensure a just transition for workers.
• 🇨🇷 Globalized standards are essential in industries like automotive and technology to foster cooperation and facilitate cost-effective implementation.
• 🌐 The fourth Industrial Revolution has the potential to address global challenges like the refugee crisis by empowering individuals through technology.
• 🧑‍⚕️ Balancing shareholder value with reducing inequality requires a shift in corporate mindset and investments that benefit workers.
• 🌐 Technology can be a force for positive change, but it needs to be governed by dialogue and global standards to avoid exacerbating inequalities.
• ⚖️ The fourth Industrial Revolution can provide opportunities for gender balance and youth participation, promoting diversity and inclusivity.
• 😶‍🌫️ Technology can be used to solve complex societal issues, such as poverty and education, through innovative solutions and public cloud infrastructure.

Questions & Answers

Q: How will the fourth Industrial Revolution affect employment, and how can companies balance the needs of the capital market with reducing inequality?

The panel acknowledges the potential job displacement caused by technology, but also emphasizes the importance of investing in sectors that create jobs, such as infrastructure and care economy. Balancing shareholder value and reducing inequality requires a shift in corporate mindset and investments that benefit workers.

Q: Should safety standards and other regulations be globally standardized in the fourth Industrial Revolution era?

The panel agrees that globalized standards are beneficial for industries like automotive, as it enables the cost-effective implementation of technology. Global standards are also encouraged in other areas, such as privacy and intellectual property, to avoid fragmentation and foster global cooperation.

Q: With the current global challenges, such as the refugee crisis and high unemployment rates, is it appropriate to focus on the fourth Industrial Revolution?

The panel acknowledges that global challenges like the refugee crisis and unemployment are pressing, but they believe that the fourth Industrial Revolution can offer solutions to these problems. They see technology as a powerful tool in empowering individuals and addressing social issues.

Summary & Key Takeaways

• The co-chairs express concerns about job displacement caused by technological advancements, particularly in the Middle East and Africa.

• They highlight the importance of gender balance and youth participation in the fourth Industrial Revolution.

• The panel emphasizes the need for globalized standards in areas such as safety, privacy, and intellectual property.