Job losses, cyber attacks and 'Balkanisation of the metaverse' - big tech in 2023

World Economic Forum hears calls for tech firms and governments to work together

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  Lawrence Summers, president emeritus and professor at Harvard University, speaks during a panel session on day three of the World Economic Forum's Annual Meeting in Davos, Switzerland. Bloomberg

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  Netherlands Prime Minister Mark Rutte and Tanzanian President Samia Hassan during a panel discussion in Davos. AP

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  EU Parliament President Roberta Metsola speaks at the forum. AP

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  Greek Prime Minister Kyriakos Mitsotakis, left, speaks to CNN journalist Fareed Zakaria at the Congress Centre in Davos. AFP

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  Iranian-American journalist and women's rights activist Masih Alinejad takes part in an interview with a TV news channel in Davos. AFP

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  Faisal Alibrahim, Saudi Arabia's Economy and Planning Minister, speaks during a panel session in Davos. Bloomberg

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  Climate activist Greta Thunberg addresses journalists in Davos. Reuters

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  Mary Erdoes, chief executive of JP Morgan Chase's asset wealth management arm, listens during a panel session in Davos. Bloomberg

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  Officials take part in the World Economic Forum's Busting Business Barriers session. Photo: World Economic Forum

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  Dr Thani Al Zeyoudi, the UAE Minister of State for Foreign Trade, is among the senior officials in Davos. Photo: WEF

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  Former US vice president Al Gore, who is also a member of board of trustees of the forum, at a session titled Leading the Charge through Earth's New Normal. Photo: WEF

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  Famed cellist Yo-Yo Ma performs at the event. Photo: WEF

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  Deemah Al Yahya, secretary general of the Digital Co-operation Organisation in Saudi Arabia, at the forum's Turning Technologies into the Markets of Tomorrow session. Photo: WEF

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  US climate change envoy John Kerry at the Keeping the Pace on Climate session. Photo: WEF

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  Shoes worn by Rodrigo Oliveira, founder of Brazilian group Green Mining, emphasise support for environmental initiatives. Photo: WEF

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  Mina Al-Oraibi, Editor in Chief of The National, moderates a session on the Middle East that featured Prince Faisal bin Farhan, Saudi Arabia's Minister of Foreign Affairs. Photo: WEF

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  Officials and delegates take part in the Middle East: Meeting Point or Battleground? session. Photo: WEF

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  Polish President Andrzej Duda speaks at the Restoring Security and Peace session. Photo: WEF

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  Mr Duda, Nato chief Jens Stoltenberg, Canada's Deputy Prime Minister Chrystia Freeland, Yuliia Svyrydenko, first deputy prime minister in Ukraine, and US Director of National Intelligence Avril Haines attend a session hosted by broadcaster Fareed Zakaria. Photo: WEF

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  Olena Zelenska, Ukraine's first lady, watches as Ukrainian President Volodymyr Zelenskyy addresses the forum. Photo: WEF

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  Mohamad Al Ississ, Jordan's Minister of Finance, takes part in the session titled The Middle East: Meeting Point or Battleground? Photo: WEF

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  Mr Zelenskyy gives a video address to the forum in Davos. AFP

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  Former US secretary of state Henry Kissinger appears on screen during the annual meeting of the World Economic Forum, in Davos. AP

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  US governors Brian Kemp and JB Pritzker, senators Chris Coons, Joe Manchin and Kyrsten Sinema and representatives Maria Salazar and Mikie Sherrill take part in a panel discussion at Davos. AP

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  Saudi Foreign Minister Prince Faisal bin Farhan attends a session in Davos. AFP

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  Chinese Vice Premier Liu He on the opening day of the forum. Bloomberg

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  Fifa president Gianni Infantino, left, and Patrice Motsepe, billionaire founder of African Rainbow Minerals, arrive at the forum's venue in Davos. EPA

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  Finland's Prime Minister Sanna Marin, right, is interviewed by Fareed Zakaria in Davos. AP

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  Delegates visit the refreshments area between sessions in Davos. Bloomberg

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  Singer Angelique Kidjo performs in Davos. EPA

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  From left, WEF founder Klaus Schwab, European Commission President Ursula von der Leyen, Ukrainian first lady Olena Zelenska and Swiss President Alain Berset pose together during the 53rd annual meeting of the forum in Davos. EPA

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  Ms Zelenska hit out at Russia and said 'we cannot allow a new Chernobyl to happen'. AFP

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  Mr Berset addresses delegates in Davos. EPA

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  Ms von der Leyen said the 27-nation bloc would become much more forceful in countering unfair trading practices. Reuters

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  Former US vice president Al Gore is expected to discuss decarbonisation, as well as efforts to build clean energy infrastructure and ensure equitable growth. EPA

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  From second left, WEF president Borge Brende, Carbon Direct vice chairwoman Nili Gilbert and US climate envoy John Kerry with other delegates in Davos. EPA

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  Credit Suisse chairman Axel Lehmann speaks during the 53rd WEF Annual Meeting. EPA

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  DP World chief executive Sultan bin Sulayem in Davos. Bloomberg

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  UBS chief executive Ralph Hamers speaks during a television interview on the opening day of the forum. Bloomberg

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  From left, Hong Kong Exchanges & Clearing Ltd chairwoman Laura Cha, Banco de Portugal Governor Mario Centeno, Bloomberg TV anchor Francine Lacqua, Credit Suisse chairman Axel Lehmann and S&P Global president and chief executive Douglas Peterson during a panel session on the opening day of the forum. Bloomberg

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  Mr Kerry delivers a speech at the Congress Centre in Davos. AFP

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  Musicians take part in a concert during the official opening of the forum. Photo: WEF

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  Jordanian vocalist Farah Siraj, centre, and Egyptian-Australian multi-instrumentalist Joseph Tawadros, left, perform during the I Sea You concert. Photo: WEF

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  Tawadros is one of the world's leading oud performers and composers. Photo: WEF

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  WEF managing director Alois Zwinggi speaks during a session called 'In Harmony with Nature'. Photo: WEF

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  Gail Whiteman, left, a professor of sustainability at the University of Exeter Business School, speaks during the 'In Harmony with Nature' panel discussion. Photo: WEF

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  Mr Schwab delivers a speech during the 'Crystal Award' ceremony in Davos. AFP

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  Actor Idris Elba, right, and his wife Sabrina Dhowre Elba, left, smile on the podium during the Crystal Award ceremony. AP

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  Kyiv Mayor Vitali Klitschko attends the Crystal Award ceremony. EPA

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  Singer Renee Fleming, right, receives a Crystal Award from Hilde Schwab, wife of WEF founder Klaus Schwab. AP

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  Delegates at the welcome reception before the official start of the forum. Bloomberg

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  Food for attendees at the welcome reception. Bloomberg

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  A kiosk serving hot chocolate from the UAE at the forum. Bloomberg

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  The Infosys pavilion at the forum. Bloomberg

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  Ukraine's pavilion in Davos. Reuters

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  From left, German Vice Chancellor Robert Habeck with Swiss ministers Guy Parmelin and Albert Roesti before the start of a bilateral meeting in Davos. EPA

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  A delegate passes a digital display in Davos. Bloomberg

“We do not want a Balkanisation of the metaverse”. That was the message from Nick Clegg, president of global affairs at Meta, who is among a number of high-powered tech executives in Davos this year.

His message at a round-table to discuss Meta’s priorities — in line with the World Economic Forum’s title for this year’s annual meeting: “Co-operation in a Fragmented World” — is fitting. He called for large tech companies and governments to work together to ensure interoperability between different versions of the metaverse that remains under development.

“We are at the foothills of the foothills of the metaverse” is how Mr Clegg described the nascent metaverse, which ultimately could create a hybrid world with a multitude of uses, including education and health. Meta’s chief product officer Chris Cox said that “we are fully post-Covid now and looking at what 2023 brings”.

Technology, in what it presents in terms of opportunities and challenges, is on full display at the World Economic Forum this year. From the implications of the rapid development of AI to the changes in work patterns and industrial leaps, technological changes were woven into most sessions and discussions in Davos.

However, the Forum sounded a word of warning on Wednesday as it issued a report explaining that geopolitical instability raised the risk of a “catastrophic cyber attack in the next two years”.

According to the report, 93 per cent of cyber security experts and 86 per cent of business leaders believe that threat was due to the geopolitical turbulence in the world. US-China tension, the isolation of Russia and threats from Iran and North Korea were among the risks being discussed in Davos this week.

Meta President of Global Affairs Nick Clegg says 'we are at the foothills of the foothills of the metaverse'. Bloomberg

“De-risking rather than decoupling” is how President of the European Commission Ursula von der Leyen sees the relationship with China progressing. And while her statement, as part of her opening speech on Thursday, was on the general relationship, it applies to the technology side of the relationship.

Mr Clegg noted that while western apps such as Facebook and Twitter were not available in China, Chinese technology was available globally. It is an advantage that China currently enjoys but it remains unclear how it will develop with time.

One other theme related to technology was that of the financial impact of the current economic downturn on tech giants. Companies such as Meta, Amazon, Twitter, and more recently Microsoft, have announced thousands of redundancies.

However, most tech officials have considered these developments as part of an adjustment after mass hiring during the pandemic. Mr Clegg explained: “What is happening now is a course correction”. Mr Cox said Meta was “optimising for relevance” at time of continued turbulence in the digital realm not too dissimilar from the physical one.