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At the World Economic Forum SpecialMeeting24 on Global Collaboration, Growth, and Energy for Development, held in Riyadh, Saudi Arabia on April 28th, 2024, we recognized three sessions that truly resonated with us: "What Kind of Growth do We Need?", "AI, Productivity, Work: Can We Have it All?", and "People, Policy, Finance: Realizing an Equitable Energy Transition." Not only did we witness different perspectives on topics we've been addressing for years, but we also affirmed ideas we've believed in from the outset. Thus, it's evident that to be Future-ready, we need to encourage private-sector businesses to address environmental concerns, understand the ethics of Artificial Intelligence, and use it as a tool to amplify, not replace, and foster global collaboration to drive growth and maximize impact.
WHAT KIND OF GROWTH DO WE NEED
As economies grapple with the challenges of achieving sustainable and inclusive growth, discussions centered on identifying approaches to reignite growth while shifting toward a better balance between quantity and quality. This session provided a platform for dialogue on innovative strategies to foster economic expansion while ensuring that growth is equitable, resilient, and environmentally sustainable. One strategy that stood out to us is private-sector empowerment. Governments should focus on creating an enabling environment for private-sector growth by implementing policies that support entrepreneurship, innovation, and private-sector-led development. These policies should also prioritize environmental concerns alongside economic development.
AI, PRODUCTIVITY, WORK: CAN WE HAVE IT ALL?
As we explore the intricate dynamics of AI integration in the workforce and its implications on productivity, AI continues to advance. The potential for augmenting workers' capabilities through task automation is undeniable. However, lingering concerns persist regarding technological unemployment and the concentration of productivity gains. This event serves as a platform to delve into the trade-offs that leaders must navigate as AI evolves further. Discussions revolved around striking a balance between leveraging AI to enhance productivity while ensuring equitable distribution of benefits and addressing potential job displacement. As we transition from the industrial revolution to the intelligence revolution, it becomes increasingly crucial to manage these trade-offs effectively. BRANDi acknowledges the importance of dialogue and can correspond with "Sustainomy," a new paradigm exploring the potential workforce implications of AI and digital trends. Also, how it may have the potential to up-skill workers to create a more efficient workforce. This is done by prioritizing Authentic Intelligence, where human beings use technology as a tool to amplify our intellectual capacities while maintaining it as a tool.
PEOPLE, POLICY, FINANCE: REALIZING AN EQUITABLE ENERGY TRANSITION
As challenges of energy security amidst the ongoing energy transition, especially in emerging and developing markets. Discussions focused on exploring strategies to achieve an equitable and inclusive energy transition that decouples economic growth from emissions while ensuring global energy access. This session provided a critical platform to examine the intersection of people-centric policies and innovative financing mechanisms aimed at accelerating the adoption of clean energy solutions. Which is congruent the three pillars: People, Planet, and Profit. We always strive to understand how our solutions can have an impact on society and the environment, thus ensuring that we guide entities into becoming sustainable Future-ready ones. The panelists emphasized the importance of transitioning to a more sustainable energy mix while recognizing the role of oil and gas in the current energy landscape. There's a call for international cooperation and a holistic approach to energy production to address global energy demand and reduce emissions.
BRANDi has always been a driving force in ensuring entities and nations are Future-ready. In order to do so, the public and private sectors need to come together to foster collaboration across the globe, drive economic prosperity, understand how to use Artificial Intelligence to enhance their current labor force, not replace them, and emphasize the importance of the environmental impact that the private sector has when it operates its businesses, as well as the adoption of clean energy sources. This is the direction we believe global economies need to move toward for the New Economy, “Sustainomy”, where there is inclusive wealth distribution for all, staying at the frontier of digital trends, and preserving our planet.
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