A new American presidency, geopolitical risk and all things AI – these are the main themes expected to keep world leaders, leading business figures and journalists busy over the next few days in Davos at the 55th annual meeting of the World Economic Forum. Primarily, the start of Donald Trump’s second term as US president is a clear break with the administration of Joe Biden. Mr Trump’s inauguration ceremony today falls on the first day of the annual meeting. From global tariffs to energy policy, the US president will significantly affect many of the industries and leaders gathered in the Alpine resort. Multiple sessions on the official programme are dedicated to deciphering what the next four years will be like, and while Mr Trump will not be present, he will give a virtual address to those attending later this week.
Linked to the election of Mr Trump is the geopolitical state of the world. In the annual Global Risks Report issued by the World Economic Forum last week, geopolitical risk was named as the top concern for chief executives and leaders from the world of politics, media and business who participated in a survey about risk perception. The perception that conflicts could become worse or spread was the primary immediate concern – with the Middle East and Ukraine top of mind. The fact that the Gaza ceasefire came into force on the eve of the meeting is undoubtedly a positive development but the level of uncertainty and fear of war prevails.
One unexpected turn of events was the downfall of the Assad regime in Syria, not factored in at the time of conducting the survey. While the former Syrian government did not participate in Davos, its successors will be represented by the acting Foreign Minister Asaad Al Shibani, who will address those attending on Thursday. A key message is expected to be that of reopening Syria for business, requiring the removal of international sanctions and the trust of the new authorities in Syria. The forum will also see the return of a once-regular delegate of Davos, Iran’s Vice President Javad Zarif, who will also address the event after several years of absence. However, for most European delegates, the biggest issue remains that of Ukraine. While Mr Trump is expected to limit some of the support that Ukraine has enjoyed since 2022, Kyiv is still getting ample support in Davos. Ukraine’s President Volodymyr Zelenskyy is expected to attend Davos, while “Ukraine House” is hosting a series of events outside the main congress centre. The space hosting “Ukraine House” is decked with a banner stating “Your Country First. Win with us”, capturing the nationalistic sentiment that appears to be growing among countries.
The third issue that is top of mind for most of those attending, particularly those not engaged immediately in geopolitics, is that of artificial intelligence. The topic of AI this year is not one speaking to the future, rather, very much the present. A short walk along the famous Davos Promenade is quite telling, with advertising from companies claiming to have the answer for AI adoption. Cisco boasts “Making AI work for you”, while Salesforce claims its “Agentforce” is “what AI was meant to be”, and Intel advertising “AI inside for the New Era”. G42 has joined forces with several leaders, including Microsoft, to host a building renamed “AI House”, with a full programme dedicated to AI.
The confluence of these issues, with a backdrop of climate change that has melted much of the snow off the mountains surrounding the meeting, promises to make this year’s forum as important as ever.
