Mission Davos: How to shape Globalisation 4.0

Image: Arnd Wiegmann / Reuters

The snow-clad Swiss Alps offer me a big white canvas each year to exchange ideas with the mélange of minds that shape the world. As part of the World Economic Forum (WEF) in Davos, this year, representatives of the WEF, as well as experts from business, politics and academia will convene to strategise on the theme of Globalisation 4.0 and creating a global architecture to leverage the best of the Fourth Industrial Revolution.

Here’s a wishlist to making the most of this event.

Citing the voice of millennials, the recently published Annual Survey by the World Economic Forum, puts forth the top-10 most concerning world issues—lack of economic opportunity and employment, lack of education, inequality and climate change. It is important to utilise ‘global collaboration’ as a force to combat these real-world challenges and respond to the changing demand dynamics.

What we do today will define our future. Co-creation and collaboration across economies will go a long way in shaping the society’s collective destiny.

We are witnessing a massive technology revolution that has disrupted and dispelled the proven norms and is continually pushing boundaries to decide how greatly, it can ‘enhance’ our lives. The world has literally converged in our palms—our smartphones and other smart devices. The revolution is unleashed, connecting devices and people seamlessly across boundaries.

With the issue of climate change looming large on our success in the future, we need to figure out better ways to drive sustainable impact of globalisation on our planet, people and communities.

This would entail developing means of reducing the environmental impacts of production, unlocking new sustainable resources and fostering the growth of a circular and low-carbon economy.

The blueprint for our roaring transition due to Globalisation 4.0 calls for swift action from all leaders, mentors and the government to step forward and design an inclusive approach, where in all the stakeholders collaborate and not just cooperate to improve the state of the world, make the economy more resilient and achieve long-term sustainable growth.

With great expectations, I look forward to the attending the annual debate and thought exchange at Davos. Globalisation 4.0 could very well be the stepping-stone to a truly connected digital world where the physical and digital boundaries blur to deliver connected experience to all.

The writer is MD and CEO, Tech Mahindra.