Live updates

Space. The final frontier for Airbus?

From the Pioneers of change Summit, innovators from the "Munich Ecosystem" - the multistakeholder hub of companies, startups, manufacturing and academia working on space exploration, talked about the importance of visions during volatile times. For an established company like Airbus, the challenge is to remain agile and inventive. One of the ways to achieve this is to partner with startups as client - but also an enabler.

I truly believe that Airbus does still manage to have the disruptive spirit it had 50 years ago.

—Christian Lindener, Head of Innovation, Airbus

Airbus' Christian Lindener, Head of Innovation, explained that in the aerospace industry, it takes 10-15 years to develop a new programme, "so we are looking now at what the world would look like if we could fly with zero emissions by 2035. In terms of innovation, we’ll see developments in hydrogen technology and UAMs, which will drastically change the way we travel in the future."

Listen up. BCG's podcast - Me, Myself and AI

Great podcast from Forum partner, BCG: Me, Myself and AI.

This week's episode features The World Economic Forum’s Kay Firth-Butterfield on Doing the Right Thing in AI.

Why do only 10% of companies succeed with AI? For four years, MIT SMR and BCG have studied corporate adoption of artificial intelligence. The most recent research has found that 90% of organizations do not realize significant financial benefit from the technology. So, what are the other 10% doing right?

Each episode of Me, Myself, and AI features a discussion with a leading practitioner helping his or her organization gain measurable value from AI. Whether they work at a born-digital organization or (more often) a legacy company, these AI experts all have actionable insights to share. The series covers strategy, deployment, human-and-machine collaboration, and scaling. We also explore what first interested these leaders in AI, how they got to where they are today, and what keeps them excited about their field.

Standard Chartered: the $50 Trillion Question

Standard Chartered launches its $50 Trillion Question report, which looks at how investors drive sustainable development and help build a better future for the planet.

There is no single answer to The $50 Trillion Question, but it is evident that investors need to expand their focus beyond developed markets. Emerging economies offer investors a unique opportunity: strong returns combined with the chance to have a significant, positive impact. Now is the time to seize it.

—Simon Cooper, CEO, Corporate, Commercial and Institutional Banking, Standard Chartered

Accenture's Julie Sweet on the business of the future

Reflecting on the role of business in powering a recovery, Julie Sweet, the Chief Executive Officer of Accenture, spoke at the Pioneers of Change Summit. She brought in three numbers:

80% of companies that Accenture surveyed were going to invest in digital transformation.

62% of C-suite executives believed that as they transform, they need to have more responsible business practices. This meant focusing on sustainability, talent and the SDGs.

Only 3% chose to combine digital transformation with a focus on responsible business.

The most successful companies of the future would combine those two goals, Sweet argued.

Julie Sweet, chief executive officer for North America at Accenture PLC, speaks during a Bloomberg panel session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 23, 2018. World leaders, influential executives, bankers and policy makers attend the 48th annual meeting of the World Economic Forum in Davos from Jan. 23 - 26. Photographer: Simon Dawson/Bloomberg via Getty Images

European firms to reveal 'missing' climate costs

JPM Morgan Asset Management (part of JP Morgan Chase & Co JPM.N), DWS DWSG.DE, Fidelity International and M&G Investments MNG.L were among 38 asset managers to back a document here setting out how they should account for the likely impact of the 2015 Paris climate accord on their future profits.

Reuters reports.

Goldman Sachs diversifies

Women and ethnic minorities make up almost half of the new class of Goldman Sachs partners.

Image: Goldman Sachs

In a statement, Goldman Sachs said, "Importantly, the class is accretive to the diversity of the partnership, as we continue to advance diversity and inclusion at our firm."

Sberbank: a one stop shop?

There is an increasing trend towards banks diversifying to offer consumers everything and anything - from entertainment, to health appointments or loans.

Sberbank is making a bid to become a strong participant in Russia’s tech sector, with Herman Gref, its chief executive, saying it wanted to have an “ecosystem” of services.

Finance minister Anton Siluanov, who became chairman of Sberbank’s board this year, said on Tuesday that “uniting banking and non-banking services will create a synergetic effect, and non-banking markets will become a new source of income”.

Diversification has been a trend globally for the financial sector for some time. Like other trends - it is seeing an acceleration as a result of COVID-19's digitalization effect.

Your local bank branch may not exist anymore, but your virtual bank manager is everywhere.

Accenture: Mapping the Future of media

To better examine the complex network of relationships and value exchanges, Accenture has introduced a Value Map to represent the major roles involved in content creation and distribution.

The Map is used to explore the push-pull dynamics between creation and distribution, while identifying opportunities and risks for each role in the system. While individual companies will be affected differently based on their situation and response to key trends, the value map provides a directional understanding of which roles are well-positioned for the future and which are at-risk.

Explore the map here.

Biggest opportunities for change

With a narrow window of opportunity to rethink our world after the pandemic, the World Economic Forum is bringing together innovators from around the world for our inaugural - and virtual - Pioneers of Change Summit.

To coincide with the meeting, from November 16 to November 20, we invited participants to share their ideas on sparking positive change as the world recovers from COVID-19. What have Forum business partners said?

To make change you must find the energy to not just start but complete the change. It is all about energy and persistence, because it's the process, not the beginning that is difficult. There are always a lot of distractions and discussions, but real change comes when there is a singular obsession with making it happen.

—Elizabeth Rossiello, CEO & Founder, AZA

To make change happen, we need to be thoughtful and intentional about how human needs and systems interact and co-exist with the technologies we increasingly integrate into our lives.

—Karen E. Silverman, CEO and Founder, The Cantellus Group

More insights from the boardroom and beyond here.

Stanley Black & Decker's "Maker Month"

Stanley Black & Decker celebrates its third annual Maker Month, a celebration of the makers, creators and tradespeople shaping the world.

The month-long campaign will shine a light on the trade skills gap, one of the greatest challenges facing the workforce today. There are an estimated 10 million global manufacturing jobs currently unfilled due to this skills gap, and by 2028, 3 million jobs will be open in the skilled trades in the United States.

To that end, Maker Month aims to raise awareness of the value of skilled trades and to build excitement around vocational career opportunities.

We are doing this through several new initiatives, including a “31 Faces of Makers” social campaign, a DEWALT® and STANLEY Security scholarship program, and a new Stanley Black & Decker Vocational Leadership Program. Maker Month’s landing page includes profiles on the 31 Makers, a resource section and details on a fun giveaway.