# Artificial intelligence at the heart of the political, economic and social agenda at Davos 2024 Author: Fernando Nieto Lobato Original publication: 2024-01-31 Spanish original: https://estrategiabyaleph.substack.com/p/estrategia-18-davos-2024-la-inteligencia English URL: https://elcontemplador.github.io/estrategia-english/essays/018/ Status: Published translation This is a translation of the original Spanish essay published on 31 January 2024. Its claims, examples and forecasts retain that historical context. English publication: 2026-09-29 *Archive note: this article reflects the discussions at Davos in January 2024. Quotations below are translated from the supplied Spanish article; the original English wording has not been verified.* **From 15 to 19 January, the world’s economic elite, along with a substantial part of its political elite, gathered in Davos, Switzerland, for the annual World Economic Forum**. At the 2024 meeting, **artificial intelligence**, as a driving force for the economy and society, **was the event’s central theme**. [![A collage of speakers at the World Economic Forum and snowy views of Davos.](https://elcontemplador.github.io/estrategia-english/assets/images/680f6598-6231-4e1a-b022-602ba3be44e6_1600x900.png)](https://substackcdn.com/image/fetch/$s_!qMAh!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F680f6598-6231-4e1a-b022-602ba3be44e6_1600x900.png) Covering all the AI content presented at the Forum is a very complex task, even if we focus only on material in the public domain. We should remember that these events include numerous highly significant private meetings, [whose details often emerge only through press reports](https://www.businessinsider.com/davos-global-elite-saying-about-ai-behind-closed-doors-2024-1). Although it is impossible to cover every aspect—[here is a very interesting list of the public talks on AI held at the Forum](https://www.weforum.org/events/world-economic-forum-annual-meeting-2024/themes/artificial-intelligence-as-a-driving-force-for-the-economy-and-societ)—**we want to highlight the main issues discussed at Davos**, which have considerable influence on the shaping of global economic policy. ## The three key AI themes at Davos 2024 ### 1. Employment An IMF report published on the eve of the Davos summit suggested that **up to 60% of jobs in advanced economies could be affected by the arrival of AI, half of them negatively**. Employment undoubtedly shaped several debates at Davos, given the scale of the economic, social and political change that AI appears to present. One of the study’s main conclusions is: > “Many jobs will disappear. Others will emerge, but not necessarily at the same time, and certainly not necessarily for the same people or in the same places. Mitigating the harmful effects of the revolution will be a measure of the cohesion and stability of future societies.” DeepMind founder Mustafa Suleyman’s statement that “[left to market forces, artificial intelligence is fundamentally a force for replacing jobs](https://gizmodo.com/deepmind-founder-ai-davos-mustafa-suleyman-openai-jobs-1851176340)” also helped to focus attention on the issue. This seems a crucial topic and, like others, we shall very probably devote a future newsletter to it. For now, we [recommend taking a look at the interesting IMF study](https://www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2024/01/14/Gen-AI-Artificial-Intelligence-and-the-Future-of-Work-542379?cid=bl-com-SDNEA2024001), or at least the translation of its abstract included below: > “Artificial intelligence has the potential to reshape the global economy, particularly labour markets. Advanced economies will experience AI’s benefits and challenges sooner than emerging markets and developing economies, largely because their employment structures are concentrated in cognitively intensive roles. Some consistent patterns emerge in exposure to AI: women and people with university education are more exposed, but also better placed to reap its benefits, while older workers may be less able to adapt to the new technology. Labour income inequality could increase if the complementarity between AI and high-income workers is strong, while returns on capital will increase wealth inequality. However, if productivity gains are large enough, income levels could rise for most workers. In this evolving landscape, advanced economies and more developed emerging markets need to focus on updating regulatory frameworks and supporting labour reallocation, while protecting those adversely affected. Emerging markets and developing economies should prioritise the development of digital infrastructure and digital skills.” ### 2. Disinformation **Disinformation and fake news are problems that [directly affected the summit itself](https://www.swissinfo.ch/spa/economia/los-v%C3%ADdeos-falsos-acechan-al-foro-econ%C3%B3mico-mundial/49141646)**. We have included a specific news item about this in the news section. Beyond that particular example, which starkly illustrates the danger of **disinformation**, Davos’s customary **annual Global Risks Report identified this problem—which generative AI could considerably aggravate—as one of the main risks, perhaps even the greatest, for 2024, also taking the electoral context into account**: > “Emerging as the most severe global risk anticipated over the next two years, both foreign and domestic actors will use disinformation and misinformation to widen social and political divisions further. With nearly three billion people expected to go to the polls in several economies—including Bangladesh, India, Indonesia, Mexico, Pakistan, the United Kingdom and the United States—over the next two years, widespread use of disinformation and misinformation, and the tools for spreading them, could undermine the legitimacy of newly elected governments. The resulting unrest could range from violent protests and hate crimes to civil confrontations and terrorism. > > Beyond elections, perceptions of reality are also likely to become more polarised, permeating public debate on issues ranging from public health to social justice. Yet as truth is undermined, the risk of domestic propaganda and censorship will also grow. In response to disinformation and misinformation, governments could gain increasing powers to control information based on what they determine to be ‘true’. Freedoms relating to the internet, the press and access to wider sources of information, already in decline, risk giving way to broader repression of information flows across a wider range of countries.” We also recommend [reading the full Global Risks Report 2024](https://www.weforum.org/publications/global-risks-report-2024/). ### 3. Science **The promise of scientific progress supported by the AI revolution is also enormous, and was another of the major themes at Davos**. Pfizer CEO Albert Bourla made this explicit in his contribution, for example, [as reported in one of El País’s dispatches](https://elpais.com/tecnologia/2024-01-18/la-promesa-y-los-riesgos-de-la-ia-encandilan-e-inquietan-en-davos.html): > “This revolution is transforming the biotech sector,” he explained. “We use AI very intensively. With it, we achieve better, faster results. Previously, the process of discovering a medicine would normally take four years. We would synthesise millions of molecules. Now, with AI, we have moved on to drug design. We make around 600 molecules, selected using tremendous computing power, which are those most likely to work. A process that took years now takes months. It saves lives.” An interesting panel was also devoted specifically to this topic: “[AI for Science: Solving the world’s scientific challenges](https://www.youtube.com/watch?v=FK8fuERrBIk)”. It highlighted **AI’s capabilities for creating new materials, researching new medicines and advancing nuclear fusion**. ## Optimism versus threat **Alongside these three major themes, regulation and how to approach it also featured in numerous speeches, panels and meetings at Davos, although nothing concrete emerged. An even more significant trend is discernible in statements by the principal world leaders attending the Forum: a more optimistic view of AI and its capabilities**—which seems to be gaining ground after an initial period when the technology was viewed, probably in exaggerated terms, as apocalyptic—**and the perspective of those who focus on how it could pose a threat**. **At Davos, European Commission President Ursula von der Leyen placed herself in the first group**, declaring: > “I am optimistic about technology and, as a doctor by training, I know that AI is already revolutionising healthcare. That is a good thing. AI can boost productivity at an unprecedented speed. First movers will be rewarded, and the global race is undoubtedly already under way.” > > “Our future competitiveness depends on adopting AI in our everyday business, and Europe must raise its game and lead the way towards responsible use of AI. That means AI that enhances human capabilities, increases productivity and serves society.” **Meanwhile, UN Secretary-General António Guterres emphasised**: > “Each new iteration of generative AI increases the risk of serious unintended consequences. > > This technology has enormous potential for sustainable development, but the International Monetary Fund has just warned that it is very likely to worsen inequality. > > Powerful technology companies are already pursuing profits with reckless disregard for human rights, personal privacy and social impact.” **What most leaders did agree on**, including the two above, Spanish Prime Minister [Pedro Sánchez](https://www.elespanol.com/invertia/disruptores-innovadores/politica-digital/20240121/clamor-inteligencia-artificial-etica-responsable-protagoniza-discursos-foro-davos/825917420_0.html) and Chinese Premier [Li Qiang](https://www.weforum.org/agenda/2024/01/what-leaders-said-about-ai-at-davos-2024/), **was the need for global agreements, international cooperation and close attention to AI’s potential to multiply inequality**. This, too, is an issue deserving in-depth analysis in a future edition of estrategIA. Fernando Nieto Lobato *Director of Digital Innovation at Institución Educativa ALEPH*