Vivian Yang, Public Engagement, World Economic Forum; Tel: +86 138 1056 7837; Email: vivian.yang@weforum.org
A look back at the 11th Annual Meeting of the New Champions: human-centered technology, a continuously reinventing sharing economy, sustainable systems and inclusive growth.
Meeting highlights: The Forum and Scientific American jointly published the annual Emerging Technologies report; the Forum released the white paper Realizing the Potential of Blockchain; and the Forum will hold the China Business Roundtable this November, among other events.
28 June 2017, Beijing, China— During the 11th Annual Meeting of the New Champions, nearly 2,000 business and political leaders, experts and media representatives from more than 80 countries gathered to discuss the theme “Achieving Inclusive Growth in the Fourth Industrial Revolution” in more than 200 sessions. Participants shared their insights and solutions across four priority areas.
1. Scaling human-centered technology
The human-centered technology revolution was defined at the meeting as affirming the dignity and value of every person and engaging all stakeholders, particularly those negatively affected by technology. Although technology itself is widely considered neutral, its application raises economic, social and ethical issues. The Fourth Industrial Revolution will not receive broad support unless its adverse effects are addressed.
2. Leading continuous reinvention
Growing digital transformation, an expanding sharing economy and the digitalization of lifestyles and services will characterize future society. Participants broadly agreed that countries and companies able to adapt, act quickly and put emerging technologies to use will become the new champions, who will come mainly from dynamic emerging markets. Established companies can learn from start-ups by focusing on customers, changing mindsets and daring to disrupt existing business models. This includes reform of Chinese state-owned enterprises, which is seeking opportunities through internationalization and the Belt and Road Initiative.
3. Developing sustainable systems
The Sustainable Development Goals served as a common agenda for discussions and new partnerships. Chinese representatives stressed that, in the country's new transition, renewable energy would account for at least 50% of the growth driven by the power grid and clean technologies. Globally, technological breakthroughs in areas such as energy storage and efficiency are key, while policies should ensure that every step in the circular economy delivers benefits. Building on existing technologies, safer, more efficient and sustainable smart cities will face challenges around data security and inclusive growth, particularly among older people with lower levels of technological literacy.
On inclusion, participants stressed that widening income inequality was fueling discontent with globalization, and that artificial intelligence and related job losses would intensify it. Inclusive growth achieved through redeployment, planning, proactive social policies and the reinvention of education is an important means of narrowing social divides. More and more people recognize that inclusive and participatory economic growth is the only way to address the inequality crisis, and that businesses must take the lead in shaping more inclusive workplaces.
4. Responding to geoeconomic change
The meeting took place against a backdrop of global economic growth recovering to 3.5%, but a new wave of risks threatened that recovery. Participants were concerned about debt burdens, while protectionism and non-economic factors such as geopolitical tensions continued to increase. Policymakers, institutions and banks must be flexible and innovative to find new growth models and put the global economic recovery back on track. In light of simultaneous global cyberattacks, the meeting regarded cybersecurity as a key issue.
Meeting highlights
- Chinese Premier Li Keqiang and Minister of Science and Technology Wan Gang stressed that China would remain committed to addressing climate change and developing clean technologies. Premier Li also stressed the need to pursue an inclusive growth strategy, limit the negative effects of the Fourth Industrial Revolution, and noted that free trade and international cooperation are key to achieving these goals.
- Participants and China's Ministry of Environmental Protection developed a public-private partnership strategy to deploy plans for the Fourth Industrial Revolution, the sharing economy and the circular economy, help China build sustainable cities, and address climate change.
- Dutch artist Daan Roosegaarde, Chinese bike-sharing company OFO and design company Tezign signed a partnership agreement. Thousands of smog-filtering bicycles will appear on the streets of cities across China. Roosegaarde is the founder of the Smog Free Tower, which turns air pollutants into diamonds and was first unveiled at the 2016 Annual Meeting of the New Champions.
- The Forum and Scientific American jointly published the annual Emerging Technologies report, featuring technologies for extracting drinking water from air, an “artificial leaf” that converts carbon dioxide into fuel, and emerging technologies in medicine, artificial intelligence, quantum computing and agriculture. At the Annual Meeting of the New Champions, the list highlighted breakthrough technologies with the potential for significant social and economic impact over the next three to five years.
- The Forum released the white paper Realizing the Potential of Blockchain, outlining its possible role in a new era of the embedded internet. The paper argues that realizing its transformative potential requires collaboration and governance among multiple stakeholders, similar to the cooperation in the early stages of the internet.
According to a new report released at the meeting, artificial intelligence will boost global GDP by 14% in 2030, equivalent to $15.7 trillion.
- The World Economic Forum and the Chinese business community announced that they will hold the China Business Roundtable this November to explore China's vision in artificial intelligence, advanced manufacturing, the Internet of Things and regional innovation.
- Through collaboration with the Union for International Cancer Control and other organizations, the Forum launched the Healthy Cities Partnership initiative. It aims to help cities in low- and middle-income countries strengthen healthcare infrastructure to address the growing burden of noncommunicable diseases such as cancer, stroke and diabetes.
- Against a backdrop of demand for electric and plug-in hybrid vehicles set to double by 2020, the World Economic Forum's Global Battery Alliance proposed principles for ensuring sustainability in the battery supply chain. They include eliminating child labor and avoiding large-scale dumping of used batteries through strategies to recover high-quality minerals and component materials from batteries in secondary markets.
- To restore trust in science amid populist questioning in some countries, the World Economic Forum's Young Scientists Community drafted a code of ethics for researchers. It outlines core principles researchers should follow, including engaging with the public, pursuing truth, maximizing benefits and minimizing harm, collaborating with policymakers, supporting diversity, providing guidance and acting responsibly.
- China's consumption is growing by 10% annually, faster than in any other country in the world. According to a new report released at the meeting, by 2021 China's consumption will increase by $1.8 trillion—roughly the size of Germany's consumer economy today.
- The World Economic Forum announced that it will convene its first Sustainable Development Impact Summit in New York on 18–19 September 2017. The summit is dedicated to accelerating progress towards the Sustainable Development Goals and the Paris Agreement on climate change through public-private cooperation and Fourth Industrial Revolution technologies.
Notes to editors:
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