Latest news with #Davos
Forbes
2 days ago
- Business
- Forbes
I Am Very Curious To See What The Mad Men Will Do To Attract Agents
USA - 2011: Jennifer Pritchard illustration of "Mad Men" character Don Draper. (Tribune News Service ... More via Getty Images) When I stopped by MIT's Dome at Davos this year, I sat in on a very interesting panel about international AI development that included Sir Demis Hassabis, the Nobel-prize winning co-founder of DeepMind, discussing (amongst other things) the dangers of 'rogue' AI. Sir Demis said that he was 'cautiously optimistic' about the future, which actually left me feeling pretty good as I wandered back out into the Swiss mountain air. So if agents aren't going to kill us, what are they going to do for us? In a recent podcast discussion with the New York Times, Sir Demis talked about the near future for AI. Naturally, as the guy is a genius, it is all worth listening to. But one thing he said in particular caught my attention. He was talking about what truly useful AI assistants might look like and he said that if a personal agent knows you well then you could teach it to "protect your attention'. He went on to explain what this means, by talking about how social media is vying for your attention and how an AI could defend your attention from "being assaulted by other algorithms' that want to capture (and, indeed, overrun) it. To protect your attention. What a succinct and evocative phrase to describe what AI can do for you. When it comes down to it, your attention is a very valuable resource, so protecting and managing that resource is really important. This is such an interesting way of thinking and just one example of why he has a Nobel prize and I do not. His vision of a digital assistant that could pan the media to get what you need, to get the 'nuggets' (as he calls them), so that you could avoid polluting your mind and your mood by dipping into the raging torrent to find the valuable piece of information that you wanted. I rather like the metaphor of my agent diligently exploring for gold in a raging river of lies, nonsense, manipulative tripe and propaganda while I get on with other things. Now, as Joe Marhese notes, our entire online economy is built on top of systems trying to capture and optimize our time and attention. Advertising promises to deliver a message in return for this attention. Performance marketing promises outcomes, which has an entirely different meaning when it comes to agents and the models behind them. This makes me reflect further on something that Ken Mandel wrote about how marketing is going to be disrupted because while humans are the target of advertisements, in the near future the kind of agents that Sir Demis is predicting will filter everything including the advertisements. He talks about the emerging 'AdTech' world where brands, agencies and agents will use structured data to communicate and to exchange data about wants, needs, preferences and offers. Or, as he rather neatly puts it, the future of advertising is 'code, not copy'. Bot motivation. This is where financial services are going. When my agent wants to open a savings account, it will negotiate with the agents of financial services providers. But how will it choose which one to select? Assuming that it is going choose on something more than price, that is. Service providers may need to start thinking about reshaping some surfaces towards agent preferences, which might differ from human preferences. I can imagine that agents might prioritise factors like the speed of response, uptime, data accuracy and so on. Optimising for these non-human factors could provide banks a competitive edge, so they should probably begin to assess their strategies for the medium term. (But I can also imagine asking my agent about some softer factors. That is, agents might be programmed to optimise for value, not just cost. They might weigh a variety of other factors such as long-term reliability, risk-adjusted returns, compliance and alignment with ethical frameworks. For example, an agent might recommend a slightly more expensive investment product if it offers superior risk management or aligns better with a user's ethical preferencesI might choose a Gretabot that prioritises 'green' investments or I might choose an Elonbot that invests in space or a Dimonbot or whatever else. That is, different people will be panning for different nuggets in the same stream.) When it comes to choosing between two similarly-ranked choices though, I rather suspect that Ken is right to point to what he calls 'trust signals" as the key because agents will prioritise trusted brands not based on our human and emotional version of trust but on a more measured version based on reputation, verified reviews and sustainability metrics instead of traditional advertising. This reinforces my view about the priority of establishing standard ways for extend identification, authentication and authorisation services to agents. I actually see this within Sir Demis' cautiously optimistic context, because I think that it will be much harder to 'game' trust in an AI world. Imagine, for example, that when your AI pays the bill at a restaurant, the restaurant bot gives your bot a cryptographic token, some form of zero-knowledge or blinded proof that you ate at the restaurant. Then in order to submit a review of the restaurant on some online service your agent would have to provide that proof. The restaurant would not know who you are, but it would know for sure that you had dined there. As it happens, I am organising a trip to Boston in a few weeks time. For such a trip, I don't want to presented with 30 different hotel options: even the most rudimentary agents ought to be able to narrow that down to three to show. I do not have time to search restaurant reviews or go back through my calendar to see where I invited guests last time, my agent can do that and show me three it chooses for me. I don't know whether to book a midweek supersaver fare or a roundtrip Wednesdays only carry on bag fare, I'll the agent choose - it already knows I prioritise punctuality over online meal choices. It was impossible to escape AI at Davos this year, since every conversation touched on the shift toward agentic AI. To be honest, I'm looking forward to this new life. While the agents work tirelessly to protest my attention from data assault and battery—ranging from impossible to assess offers to sell me hotel points to endless solicitation for new credit cards—I can get on and carry out more useful (and certainly more creative) activities.
Arab News
3 days ago
- Business
- Arab News
In the wake of the WEF's challenges, neutrality and good governance are paramount
Geneva, Switzerland, is a hub for international cooperation. The city has provided a venue for dialogue among governments and nongovernmental organizations alike since the early 20th century, bolstered by critical aspects of the Swiss DNA: neutrality, good governance and a tradition of dialogue for impact and peace. Since its founding in 1971, the World Economic Forum, under the leadership of its founder Klaus Schwab, started as a private foundation and eventually became an official Swiss international organization guided by the mission statement: 'Committed to improving the state of the world.' The WEF and its annual gathering in Davos evolved from a European industrial conclave into the world's most influential event for brand building, networking and addressing the topics of the day among political figures, business leaders, NGOs and the social sector. The WEF today, however, is facing an impasse. As a perceived neutral platform for dialogue, for decades the WEF offered a unique value proposition geopolitically, from the Cold War period through the Middle East peace process and the end of apartheid in South Africa. This neutrality came into question in 2022 following the war in Ukraine. At that point, the WEF followed political pressure from the US, the EU and Switzerland, turning away all stakeholders, political and civilian, from Russia, thereby taking sides in the conflict and stifling dialogue. When asked directly why the Russians were excluded, one WEF representative at the time cited the excuse that 'Russia invaded a sovereign country' as a justification for the WEF's unprecedented political stand. This situation has played itself out historically with the US-UK invasion of Iraq in 2003, when moral justifications regarding human rights violations were used on a selective basis to underscore what was later revealed to be the false pretense of weapons of mass destruction. Moreover, without skipping a beat, the following January, the WEF invited the US and UK governments, their allies and other stakeholders to Davos, despite their invasion of a 'sovereign country.' As a perceived neutral platform for dialogue, for decades the WEF offered a unique value proposition geopolitically. This fault line is one, which, compared to Western countries, counterparts from the Arab Gulf to the BRICS and the Global South have addressed in a more pragmatic way. Instead of focusing solely on the Western, pro-NATO enlargement narrative, they have considered, rightly, their own business and economic interests and interlinked global geopolitics over the principles of so-called sovereignty and invasion. In terms of its own internal governance, the WEF has come under scrutiny in the past few years following a series of journalistic reports, notably from The Wall Street Journal, which started with looking into gender and inclusion policies and which ultimately led to the resignation of the founder. In the last month in particular, several alleged governance questions have emerged about Schwab, his family, the board and select members of the management team. While independent investigations are underway under the eyes of the Swiss authorities, and innocence is presumed until proven otherwise, it is important that these events not neglect a critical aspect: these issues — if true — would not have occurred had proper measures been installed to ensure good governance, checks and balances, and the proper oversight of what is today an official Swiss international organization. According to the bylaws of the WEF, Schwab has the right to appoint his own successor and either he or a member of his immediate family sits on the board of trustees. Schwab will therefore likely continue to pursue his own case and deny the allegations of wrongdoing that have been lodged to protect his own personal reputation and, even more so, his legacy. The authorities and the current board of the WEF may need to find a compromise, including naming him honorary chairman and/or meeting other demands. Serious questions must be addressed about how so many alleged internal issues were allowed to precipitate over an extended period without board members supposedly being aware. Beyond the organizational culture that was variably criticized in the media, it appears as though board members failed to ask the right questions or address issues, as did the regulators, in compliance with Swiss law, which mandates regular audit. The current circumstances should therefore give the WEF pause to pose some of the difficult values-based questions for an organization that is charged with convening the world's elite around the most pressing global challenges. Moreover, the WEF's partners, notably business and wealthy governments, finance its $500 million annual budget. If the WEF is going to continue to accept these financial contributions, it must also be held accountable. Against this backdrop, and at a moment when global leadership is under great scrutiny and redefinition, multistakeholder leaders have options to choose between myriad different events and initiatives for building their influence and collaboration, ranging from the Milken Institute to the Future Investment Initiative. Now is the time, however, for the WEF to revisit its purpose and decide if it will become one of the many hubs for corporate networking and deal-making or if it will stay true to its DNA: serving as a neutral platform, with good governance and focused on real impact. • Khalid Abdulla-Janahi, chairman of Vision3, has over 30 years of experience in banking and financial services.
Irish Times
5 days ago
- Business
- Irish Times
Christine Lagarde said to have discussed leaving ECB early to head WEF
Christine Lagarde has discussed cutting short her term as European Central Bank (ECB) president to become chair of the World Economic Forum (WEF) , according to WEF founder Klaus Schwab . Schwab, who left the WEF last month following misconduct allegations that he denies, said that practical arrangements – such as an apartment in Switzerland – had been made for Lagarde to take over the organisation before her tenure at the ECB ends in 2027. Any move by Lagarde to accelerate her departure from the ECB could trigger a succession race for the EU's top monetary authority. Schwab said Lagarde had been at the centre of a plan both had discussed for 'several years' for her to replace him as head of the WEF, the body behind the annual meetings of the business and political elite at the Swiss ski resort of Davos. READ MORE The latest conversation was in early April, when Schwab visited Lagarde in Frankfurt 'to discuss with her the leadership transition [at WEF] with myself remaining chair until she was ready to take over, at the latest, early 2027', he said in an interview. Lagarde, who has been on the WEF board of trustees since 2008, has a non-renewable eight-year term at the ECB which runs until the end of October 2027. Two people familiar with the matter referred to a mutual understanding about the timeline between both sides, which would have required Lagarde to leave at least 10 months before her term ends. One of them said she had agreed to take on the role on the proviso she could first bring inflation in line with the ECB's medium-term 2 per cent target. But they added that Lagarde also expressed some reservations about her ability to leave the ECB early at various points during the conversations about her future. An ECB spokesperson said: 'President Lagarde has always been fully committed to deliver on her mission and is determined to complete her term.' The spokesperson declined to comment further. The WEF said it was 'not in any position to comment on possible confidential discussions that may have taken place between our former chairman and Madame Lagarde'. The 69-year-old former IMF managing director and French finance minister would be the second ECB president after Wim Duisenberg to leave the Frankfurt-based institution early. The ECB presidency, one of the highest-profile financial jobs in Europe, has historically been subject to high-stakes political bargaining between individual member states. Schwab told the FT that an apartment in the WEF-owned Villa Mundi overlooking Lake Geneva had already been reserved for Lagarde, to give her 'somewhere to work as she took on more responsibilities and needed to be here'. Responding to claims by a whistleblower that his family had made private use of parts of the Villa Mundi complex, he added that the apartment was not for him but Lagarde. The WEF described his comments on the apartment as 'new information to us', adding that Villa Mundi was 'now being used by our staff and constituents'. Several people familiar with the WEF succession cautioned that no formal agreement between the Geneva-based institution and Lagarde had yet been struck. But two people with knowledge of discussions said the conversations between Lagarde and the forum about a leadership role had continued since Schwab's departure. The 87-year-old said in early April he intended to step down as chair of the board of WEF trustees in January 2027. But he was forced out by the WEF board only weeks later, after the anonymous whistleblower made a series of allegations including that he and his family received inappropriate financial benefits from the organisation. Schwab had been cleared of other misconduct allegations just weeks before the new complaint landed and has also rejected the latest allegations. The WEF founder told the FT that he was concerned that the long-planned handover to Lagarde might be jeopardised, because of his own early departure last month and potential damage to the institution's reputation. 'My fear is that if this continues and hangs over the organisation without a solution, Christine Lagarde will not take up the position as chair,' he said. 'I don't want to lose her. I want to make sure what has been built here ... is not destroyed.' The WEF, which has appointed former Nestlé chief Peter Brabeck-Letmathe as an interim chair, countered that it 'continues to operate from a position of strength', adding that it had record participation in recent events. Davos has become a set-piece event for chief executives and heads of government and a moneymaking machine, with 440 million Swiss francs in revenue in 2024. Lagarde could expect a doubling of her annual salary, which last year stood at €466,000, compared with about 1 million Swiss francs that Schwab made. Since taking office at the ECB in 2019, she has steered the central bank through Covid-19 and a once-in-a-generation surge in inflation that followed pandemic lockdowns and Russia's full-scale invasion of Ukraine. Price rises have since come back under control, with Eurozone inflation remaining at 2.2 per cent last month and ECB staff forecasting it will return to target next year. – Copyright The Financial Times Limited 2025
Forbes
7 days ago
- Entertainment
- Forbes
Moral Ambition By Rutger Bregman — Review
Greed and selfishness are failing humanity: can 'moral ambition' save the day – and us? Helping hand. getty Doesn't everything die at last, and too soon?Tell me, what is it you plan to dowith your one wild and precious life? – The Summer Day by Mary Oliver I have eagerly followed Dutch historian Rutger Bregman's career online ever since I saw a video clip on twitter of him speaking truth to power at the Davos CEO Greedfest Conference. In this video, Mr Bregman admits to the audience that he was bewildered by the economic scolds at Davos who talked about participation, justice, equality and transparency, but 'nobody raises the issue of tax avoidance and the rich not paying their share. It is like going to a firefighters' conference and not talking about water.' After I had been won over by that charming introduction to his moral philosophy, I simply had to know more. I'm most pleased to tell you that, a few years later, I finally managed to get a review copy of his hot-off-the-presses book, Moral Ambition: Stop Wasting Your Talent and Start Making a Difference (Little, Brown and Company, 2025). This impassioned book is incredibly readable – I read it in one go. It uses crisp, energetic prose and interesting examples to argue that it is possible for all of us to live meaningful lives. Additionally, reading the opening credits in this book that quote numerous book reviews already published, I felt like I was in an online book club with some of my favorite famous people, from Trevor Noah and Timothy Snyder to Stephen Fry, and I was determined to read this book that they all were talking about, so I could be part of the conversation, and an active participant in this social movement, too. Mr Bregman opens Moral Ambition by discussing how most people waste their talents on bullshit jobs, when they could instead focus their talents, energy and time on how to live a meaningful life that is useful to society. We learn how our conventional definitions of success harm us, animals and the planet, and Mr Bregman uses numerous examples to demonstrate how we can shift our focus from personal gain to societal benefit. This, in a nutshell, is moral ambition; the willingness to devote one's life to solving the world's biggest problems – globally pressing threats like climate change, pandemics, or the energy crisis. In his book, Mr Bregman describes the four categories of people as he sees them. First are people who are neither ambitious nor idealistic. This category includes those who work at meaningless 'bullshit jobs' and those people who only seek to retire. Second are people who are ambitious, but not idealistic. This group includes consultants, bankers, many tech employees (and I'd suppose, most politicians.) Third are people who are idealistic, but not ambitious. Most protesters and activists fall into this group. Fourth are those incredibly rare people who are both ambitious and idealistic. Mr Bregman moves on to discuss his concept of 'zeroes', 'ones', and 'twos'. Zeroes are those rare people who start things, the trailblazers – or troublemakers, if you prefer. Ones are the people who help the zeros in their crusades. Twos are those who join in and follow after things have gotten started. According to Mr Bregman, regardless of whether you are a zero, a one or a two, the ultimate goal is doing something that's useful for humanity. As an example, he points to how the young law student, Ralph Nader, got his start back in the day, by successfully suing General Motors for making unsafe cars. Nader's actions led to LBJ signing the Highway Safety Act and Traffic Safety Act. Following on that success, Nader then started the 'Radical Nerds', a group of talented and idealistic law students who were recruited by Nader specifically to focus on solving societal problems. Mr Bregman discusses the idea of the 'Noble Loser' – someone with ethical intentions but unable to make a difference. This is often because Noble Losers don't know how to make a difference. According to Mr Bregman, one way to overcome this deficit is to join a group centered around moral ambition, that relies on a cult-like mentality to identify and accomplish their goals. (I disagree with the author here because a cult can so easily go wrong, as we've seen far too often.) Some of Mr Bregman's examples include the Against Malaria Foundation, the Abolition of Slavery movement and even 'ordinary people' hiding Jewish people in their homes during WW2. Using these examples and more, Mr Bregman discusses what is necessary to make a substantially positive social impact. He concludes that it really doesn't take much. For instance, many of those who hid Jews did so simply because they were asked to. And anyone who knows this can have similarly powerful social impacts. In the book's final chapter, Mr Bregman introduces three global challenges (in addition to climate change) that could serve as worthy, solvable threats for those with moral ambition who are seeking to improve society: nuclear war; artificial intelligence and biological warfare. Despite some of my reservations, I think Mr Bregman's argument to think carefully about the impact that your actions and life have on others is critically important. Taking deliberate actions to live a meaningful life, a life that is useful, and impactful, is the most fulfilling way to live your best life. An inspirational guide to finding that path for ourselves, Moral Ambition reminds us that the real measure of success lies not in what we accumulate, but in what we contribute, and it shows how we can build a lasting legacy that truly matters. Highly recommended for absolutely everyone from the ages of 15 to 115, I think this powerful, well-argued book would be an especially thoughtful and transformative graduation gift for your high school or university students. © Copyright by GrrlScientist | hosted by Forbes | Socials: Bluesky | CounterSocial | Gab | LinkedIn | Mastodon Science | Spoutible | SubStack | Threads | Tribel | Tumblr | Twitter
Yahoo
23-05-2025
- Business
- Yahoo
Saudi Arabia launches global tourism industry event
Saudi Arabia plans to launch a global tourism industry event. The sector is expected to contribute $11.7 trillion to global GDP this year, supporting 371 million jobs, according to industry group World Travel & Tourism Council (WTCC). But the business lacks a global platform to study trends and set priorities, Saudi Tourism Minister Ahmed Al Khateeb said on Thursday during the launch of TOURISE — a forum that Al Khateeb likened to Davos or FII, that will bring the industry together with leaders in technology, investment, and sustainability. The first gathering will be held in Riyadh in November, alongside the UN Tourism General Assembly. The kingdom has major plans to boost tourism, its second largest industry after oil. The sector is projected to generate 447 billion Saudi riyals ($122 billion) this year, according to the WTCC. Saudi Arabia exceeded its 2030 target of 100 million annual visitors last year.
