- The World Economic Forum in Davos began in earnest on Tuesday.
- Trump’s return to the White House is on everyone’s mind, but HE is still dominating the conversation.
- This is what BI reporters are hearing and seeing on the ground.
As the rich and powerful gather for the World Economic Forum in Davos, Business Insider reporters are moderating panels, interviewing agenda-setters and talking to people on the sidelines and at parties.
This is what is happening there today.
Who will fly from DC?
Monday was officially the first day of Davos, but things kicked up a notch on Tuesday. One question people at the party are asking: Which of the CEOs who showed up at Trump’s inauguration will make the trip to snowy Switzerland?
Uber CEO Dara Khosrowshahi is set to come out, but will Sam Altman also make a return? whether Sergey Brin can he find the time for Trump’s inauguration, can he also take a trip on a private jet? — Hugh Langley
2 CEOs tell BI they expect Trump administration to be good for business
Elon Musk’s DOGE may be in the business of cutting, but some tech companies we spoke to also see dollar signs. President Trump on Monday signed an executive order creating Doge, which describes its purpose as “modernizing federal technology and software.”
Hewlett Packard Enterprise CEO Antonio Neri says the new administration wants “more business, not less” from a technology perspective. “I consider the government a big enterprise,” he told BI. Meanwhile, Eric Clark, CEO of NTT Data Americassaid, “I think we’ll see opportunities for expansion very soon.”
He said NTT works with the federal government, that it did well under Trump 1.0, and that they expect the new administration to be “pro-technology and pro-business.” – Hugh Langley and Jamie Heller
David Beckham made an appearance
David Beckham was presented as this year’s Davos. Spriha Srivastava/Business Insider
Amidst the whirlwind of meetings, dinners and cocktails, there have been some notable ones. Have you ever heard of a guy named David Beckham? Well, I met him. The former footballer and UNICEF Goodwill Ambassador received a Crystal Award for his philanthropic work.
This is the magic of Davos. One moment you’re refilling your coffee in the main hall of the Convention Center and the next you’re rubbing shoulders with some of the most interesting figures in the world. – Spriha Srivastava
People are feeling optimistic about Trump and his impact on the economy
Trump’s return has brought mixed feelings to Davos, but in the conversations I’m having with people — some on the record, some behind closed doors — there’s an emerging sense of optimism about the economy and the potential for growth.
“CEOs and management teams appear to be much more optimistic about the macro environment,” it said Neil Dhar, global managing partner at IBM Consulting. “I think part of that is maybe the world has gone through a massive election cycle and I think now that people know the direction of travel.” — Hugh Langley
Expect an AI startup ‘David’ to emerge in the AI space, says one tech leader
AI — especially agentic AI — is dominating the conversation. One technology leader summed up the current trend, saying, “Small is the new big.” During a discussion on Big Tech and AI, Abhishek Shankar, president of Tech Mahindraemphasized the need to keep an eye on the smaller players in the space.
“I’m always reminded of the story of David and Goliath, and there are many, many Davids out there today. OpenAI is, of course, one of the popular Davids. But if you really look closely, then you have Anthropic, Mistral, etc.”
Shankar said the next few years will reveal who the next “David” will be. “The next few years are about watching some of these young players. They’re going to step up and the speed at which they do that will be different than in the past. I’m pretty sure there’s going to be a David young to take that open space”. – Spriha Srivastava
Abhishek Shankar, president of Tech Mahindra, spoke to BI’s Spriha Srivastava. Business Insider
Have you ever had trouble getting a chatbot to help you with your canceled flight? A travel firm may have the answer.
AI has a problem now: it’s forgotten. If you’ve ever had a long conversation with a chatbot, you may have noticed that it sometimes can’t recall information from earlier in your conversation.
Travel booking firm Navan may not be the company you’d think would solve this problem, but it is CTO, Ilan Twigtold BI that he has created a new framework for AI that more closely mimics the human brain.
Think of it as different subject matter experts all talking to each other and passing information back and forth – one knows the seats on the airline, the other knows all about your loyalty program – but to the user, it’s like they’re just chatting with one person. If you’ve ever felt the frustration of dealing with a chatbot when your flight was delayed, or being passed over by countless service agents, this can be a positive.
Twig said its travel agent is already handling 7,000 conversations a day, and nearly 60% of incoming inquiries are resolved without ever having to go to a human. – Hugh Langley and Dan DeFrancesco
A software CEO had a funny answer when asked how AI would hurt his business
Nacho De Marco had a funny remark when we asked him if AI would hurt his business, BairesDevwhich provides software engineering support to companies on an outsourcing/staffing basis.
“I’ve heard some people say that about reporters,” he said. Touch! That said, he predicted that in the next five to 10 years, “software is going to get a lot better” with new technologies. “In 20 years, I don’t know.” – Jamie Heller
KPMG talks about its legal venture
When a firm the size of KPMG looks to move into a new business, it tends to turn heads, but the Big Four professional services firm’s attempt to create a US law firm is not about upending the industry, according to one of her. the leaders. Paul Knopp, chairman and CEO at KPMG UStold me that the strategy is rounding out the kind of services they are already doing. He mentioned things like addressing the legal issues that come with managing a contract or performing due diligence on a deal.
“We don’t see it as a threat to the traditional law firms that are out there today,” Knopp said. “It’s looking more for complementary or related services that fit well with what we’re already doing and can add value to the niche service we’re already offering.”
As for how KPMG plans to staff the new group, Knopp said the firm will build on the relationships it has already built by recruiting directly from outside universities. It will also do what Knopp called “direct entry talent,” meaning the firm will hire people currently working in the market.
Again, Knopp doesn’t see this as a massive threat to mid-sized and large law firms since the focus won’t be on the type of litigation or regulatory work that those firms excel at.
“It’s exactly the reason we’re entering that space. We think there’s an unmet need where we can serve in that capacity. Where there are certain legal services that can be performed by us more efficiently because we know the other service already “, added Knopp. Dan DeFrancesco
Shrinking inflation hits Davos wages
Davos’ distinctive blue hats are getting smaller. Dan DeFrecesco/Business Insider
It seems the shrinking has come for Davos freebies. The famous blue Davos hats that have been a staple of the conference for years are back, albeit in a slightly different form.
This year’s eruption is significantly smaller than in previous years. Even in an event for the world’s elite, signs of change in the economy are being felt. – Dan DeFrancesco
