WEF 2025 Wrap-Up: Unlocking the Intelligent Age through collaboration, transform

The conversations at Davos revolved around the transformative power of artificial intelligence as global leaders acknowledged that it is the foundation of an upcoming economic and societal revolution

Mohit Joshi
4-MIN READ
Updated:Jan 30, 2025 01:45:47 PM IST
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Davos is not just a bustling trade fair; it's a space where ideas thrive. It is a platform for dialogue enriched by shared aspirations and collective curiosity. As one of my colleagues noted, "Davos promotes conversations that foster connections and collaborations."  This is true; in these moments—amid snowy paths and crowded auditoriums—seeds for long-term partnerships and transformative change are planted.

This year's WEF theme captures the essence of our collective journey forward. It reflects the recognition that the challenges and opportunities of this transformative era—shaped by advancements in Artificial Intelligence (AI) and the quest for sustainability—demand a unified response. AI emerged as a key discussion topic, showcasing endless possibilities for industries and societies, while the resurgence of the global economy highlighted the need for adaptability and innovation.

AI Mania: The Unrivalled Centrepiece

This year, Davos prominently showcased AI, with every corner highlighting its transformative power. Company logos and banners displayed AI-driven visions as global leaders acknowledged that it is the foundation of an upcoming economic and societal revolution.

Transformative Potential of AI in the Global Economy

With its unparalleled potential to analyse data, predict trends, and optimise operations, AI is expected to redefine how we approach economic growth, sustainability, and innovation. Global leaders agreed that the AI revolution will have far-reaching implications—more profound than the advent of mobile technology or even the internet. By driving efficiencies, enabling smarter decision-making, and unlocking new opportunities in both traditional and emerging industries, AI is poised to become the cornerstone of global economic resilience and growth in the years to come.

Simplifying and Modernising Technology Estates: A Crucial Step Forward

Heavy investments in hardware and software marked the first phase of AI adoption. Companies rushed to acquire the computational power and tools required to train complex AI models. However, as AI enters its next phase, the focus must shift to building real-world applications and use cases.

To do this, a fundamental overhaul of technology estates is essential. I see this in the same way I see the evolution of cars. Initially, we marvelled at cars that could go from 0 to 100 in 10 seconds. Today, we have vehicles that can achieve that in just 2 seconds. But what good is that car if we don't modernise the streets, it drives on, install better lighting, or invest in smart instrumentation to guide it safely?"

The same holds true for AI. Without modernising data estates, cleaning up legacy systems, and making applications "AI-ready," AI's potential will remain untapped. We need to focus on integrating AI seamlessly into our operations by simplifying tech stacks, optimising infrastructure, and ensuring the underlying systems can support the demands of an AI-driven world.

AI Expands Beyond Knowledge Industries

This year's discussions on AI signalled a significant shift: AI is now venturing into industries traditionally viewed as less tech-savvy. The discussions pointed to the increasing adoption of AI in manufacturing, construction, and oil and gas—sectors historically driven by mechanical processes. This shift signifies that AI is a universal tool, creating new paradigms across every facet of the economy.

The Resurgence of Optimism: A New Dawn for the Global Economy

This year, conversations shifted towards growth, modernisation, and transformation, signalling a pivotal moment for industries and economies worldwide. One of the most heartening aspects of our discussions was the renewed belief in technology's role as a growth enabler. Partners and clients are now focusing on modernising and transforming their infrastructure to fully leverage the technology revolution rather than solely on cost efficiencies.

Financial Services: The Heartbeat of the Global Economy

This year, the optimism global leaders shared about technology's role in driving revenue growth for this critical sector stood out. Discussions highlighted how financial institutions are turning to AI and other transformative technologies to reshape customer experiences, enhance operational efficiencies, and unlock new revenue streams. There is a sense of hope that the regulatory pendulum is swinging back toward a more balanced approach. This shift is expected to create an environment where innovation and compliance coexist harmoniously, allowing financial institutions to focus on growth.

Balanced Regulations: A Path to Unlocking Productive Energies

Discussions also explored how labour markets in regions like the UK and Germany are rethinking their frameworks to harness productive energies and foster economic growth. This is particularly relevant in Europe, where balanced regulations could help industries thrive and propel the continent toward a future of prosperity. The sentiment across industries reflects a belief that the regulatory environment is becoming less intrusive, allowing businesses to innovate and expand without excessive barriers. This renewed optimism is promising for the IT sector, especially with the recent announcement of a $500 billion private sector investment in AI.

'Art of the Possible': A Vision for Technology and Talent Transformation

I was also part of the WEF 2025 ICT Governors Council Meeting, and the conversations centred around a singular, ambitious vision—the Art of the Possible. The discussions were about incremental improvements and reimagining what is possible in a world increasingly defined by digital innovation. Leaders discussed how advanced tech like AI and quantum computing could help businesses and governments tackle urgent challenges.

Talent Transformation: The Cornerstone of Progress

Although technology's potential was evident, it was clear that its advantages could not be fully realised without addressing the critical transformation of human capital. Central to the discussions was the urgent question: How can we effectively equip talent for this rapidly evolving landscape?

Transformative technologies like AI and automation require a skilled and adaptable workforce. Clearly, talent transformation is essential. Building a workforce that embraces lifelong learning and collaboration is key to harnessing emerging technologies' benefits. Several actionable ideas have emerged, from large-scale reskilling initiatives to fostering partnerships between governments, academia, and industries to create ecosystems that enable continuous learning.

The writer is MD & CEO of Tech Mahindra.