- Technology and business leaders are in Davos, Switzerland for the World Economic Forum.
- They have been discussing Donald Trump’s inauguration and AI as they wait for the event to begin in earnest.
- Here’s what Business Insider is hearing and seeing at the convention of the rich and powerful.
of World Economic Forum in Davos doesn’t begin in earnest until late Monday, but business and technology leaders have already descended on the Swiss mountain resort.
Artificial intelligence and what Donald Trump’s presidency means are hot topics.
Business Insider is on the ground and talking to people. That’s what we’re hearing.
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The conversation about AI and AI agents is already in full swing here, but Mihir Shukla, CEO of Automation Anywhere, believes that this year the conversation is turning from hype to questions about practical realities. “While CEOs here are pursuing AI, they see it as cool, but the job is to find the value,” he told BI in an interview. “I know it’s good, but what can I do with it? I think the conversation will happen this year.”
Can HE still do his job? Not completely, but he admitted he could do something. A fun example: His company built an AI agent in the boardroom and trained it on years of financial information and company presentations. “It was able to match patterns that more experienced people couldn’t,” he said. It was so good, they even gave the AI agent an empty seat at the boardroom table for dramatic effect. – Hugh Langley
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A stumbling block with AI agents: How do companies get paid for their work and who gets the credit, and more importantly, the revenue, internally? Raj Sharma, EY’s global managing partner for growth and innovation, told BI that the power of AI agents is forcing the professional services giant to rethink its business model. Instead of simply charging clients based on the hours and resources EY can spend on a project, Sharma said with AI Agents it can take a “software-as-a-service” approach where clients pay based on the outcome.
The issue is not only external. One has to think about who owns the agents and is responsible for the income they bring. “As much time as we’re spending on the technology side of these things, the whole business model, the risk models that go with that, there’s an equal amount of energy, at least companies like ours are spending, to say ‘What is the model right trade?'” Sharma said. – Dan DeFrancesco
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It’s a little warmer than usual in the mountain town this week, with daily highs reaching the mid-30s. Overnight, it’s only expected to drop into the mid-20s. (The average daily temperature for the city is typically in the low 20s.) And the famous “suit and boots” look the conference has become known for won’t be as necessary this week with no snow forecast.
All of this is in stark contrast to the US, where the East Coast is braving bitterly cold weather and a rare snow and ice storm threatens the South. – Dan DeFrancesco
Davos Promenade is full of emerging economies setting up their stalls. Spriha Srivastava/Business Insider
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Walking down the promenade in Davos on Sunday evening, I couldn’t help but notice something different – emerging economies are showing up in a bigger way this year. Last year, India and Saudi Arabia made waves, laying out prime real estate along this iconic stretch where you’re just as likely to bump into a government leader as a tech billionaire.
But this year? The guest list has been expanded. Brazil, Indonesia, Mongolia and Korea have all joined the Davos scene, setting up their own hubs and signaling they are ready to be heard. I have meetings lined up with officials from these countries and I’m curious to hear what’s on their minds. A recurring theme? The re-election of Donald Trump and what it could mean for the developing world. With global capital still flowing largely from the US, there is much at stake. Policies formed in Washington have ripple effects from Jakarta to São Paulo. The situation here suggests that leaders aren’t just watching—they’re strategizing. – Spriha Srivastava
