Davos 2023: Key takeaways from the World Economic Forum

    The past week, the biggest financial leaders and members of the World Economic Forum met in Davos to discuss their economic outlook for 2023 and beyond. The attendees talked about a plethora of problems including COVID-19, climate change, inflation, debt, etc. Davos also was a great opportunity for the members of the WEF to advocate for an increase in financial and military support in Kyiv, Ukraine. We can see that this support is going to be large as Larry Fink recently said that BlackRock is willing to help aid Ukraine from Russian aggression. 

    Climate change was another enormous topic as many members advocated to use materials that were renewable and eco-friendly. The way that leaders of the WEF could help make our world resort to clean energy was by funding projects that were using clean energy. 

    Technology was a big talking point as well as the WEF was blown away by the intelligence of ChatGPT and other AI software and hardwares. The emergence of AI and the increase in inflation have caused many companies to lay workers off. For example, BlackRock layed off 10,000 employees recently and Microsoft also layed employees off recently. 

    Overall, the Davos meeting in the WEF is something that is very interesting because they don't just talk about what issues they want to solve, they look at the big picture and what they say they want to do provides us with information about what to expect. Their heavy advocation for green energy and AI should make us certainly believe that our economic systems could potentially see drastic change to adjust with new innovations and processes.

Link to article: https://www.reuters.com/business/davos-2023-key-takeaways-world-economic-forum-2023-01-20/