The main topics Will be discussed at Davos 2024 were AI, Ukraine and Gaza.

The world’s wealthy and powerful nations are heading to the Swiss resort of Davos to attend the World Economic Forum. This annual event takes place during a time when the world is witnessing a devastating war in Gaza and Ukraine, causing a lot of excitement and concern about advancements in artificial intelligence, in addition to a catastrophic debt crisis, economic slowdown, and climate deterioration.

More than 2800 individuals, including over 60 heads of state and government, are expected to participate in the forum for a period of 5 days starting from Monday, January 15th. It has been agreed upon that the theme for this year’s meeting of global political and business leaders, prominent personalities, and social activists will be “Renewing Trust.”

Mirek Dusek, the Managing Director of the World Economic Forum, stated during a press conference that the theme of this year’s event is a direct response to the evident decline in trust within societies and between nations. He further mentioned that some individuals may directly correlate this with the significant changes happening around us, whether they are political or economic.

Global Leaders Gather to Address Concerns Over Escalating Conflict in Ukraine and Gaza

Among the prominent political leaders who participated in the conference were French President Emmanuel Macron, President of the European Commission Ursula von der Leyen, and Chinese Prime Minister Li Qiang. It is also expected that recently elected Argentine President Javier Milei will attend.

The US Secretary of State, Antony Blinken, will represent the United States in a meeting that includes parties related to the conflict in Gaza, including Israeli President Isaac Herzog and Qatari Prime Minister Mohammed bin Abdulrahman Al Thani, to discuss ways that can lead to ending the conflict in the region and avoiding further escalation that causes concern for many.

It is expected that the wars in Ukraine will also witness significant expansion this year. It is also expected that President Volodymyr Zelensky will personally attend the meeting to gather support for his country, while the United States and the European Union struggle to obtain financial aid worth billions of dollars for Kyiv.

Economic fears and debt crisis

People around the world are affected by the slow economic growth and ongoing crisis in living costs, exacerbated by steep interest rate hikes. The World Bank recently warned that the global economy is heading towards ending 2024 as the slowest half-decade of growth in GDP in the past 30 years.

While many countries have begun to feel relieved due to strong growth in the United States, there are concerns that escalating geopolitical tensions may disrupt the recovery process. Additionally, the slowdown in growth in China, the world’s second largest economy, has dimmed prospects in many developing countries in Africa and Asia.

Another issue that will also dominate the agenda is the massive debt that has accumulated on developing economies – many of them in Africa – during the recent years in dealing with multiple crises such as the coronavirus pandemic, energy shortage, and climate change.

Currently, approximately 3.3 billion people live in countries that prioritize interest payments over spending on education and healthcare, according to a report by the United Nations. Many developing countries acknowledge that their finances are under pressure due to rising food and energy prices, as well as increasing borrowing costs.

The upcoming African leaders’ summit, which is expected to be attended by a large number of leaders, will discuss the economic situation and the religious crisis. Nigerian president, Bola Ahmed Tinubu, and his Kenyan counterpart, William Ruto, will be among the attendees.

Leonard Stiegler from Africa Collective, a platform that promotes African interests to global investors, said:

“When it comes to Africa, it is still about building trust in the continent as a vibrant and effective hub, and it is about current and future opportunities, especially with a focus on demographic transformation.”

Particular importance for artificial intelligence

This year, the breakthrough in the field of artificial intelligence has become a major focus of interest, as it has created new opportunities and put pressure on regulators. This technological revolution has given rise to a set of dedicated committees.

In the annual risk classification published by the World Economic Forum on Wednesday, false and misleading information generated or driven by artificial intelligence was identified as one of the major risks in the upcoming years.

The survey revealed that “the relationship between fake news and social unrest will play a major role this year, as leading economies such as the United States, the European Union, and India head to the polls.”

Mirek Dusek has stated that we should be extremely concerned about these technologies and associated issues. We have already developed plans for dialogue and collaboration between the public and private sectors on these matters to ensure that we do not fall behind and keep pace with the rapid developments in this field.