Leaders to tackle digital revolution in Davos 2016

EU Commissioner for digital economy and society Guenther Oettinger (front right) tests out virtual reality glasses with other officials at a theme park in Germany on October 9, 2015 Keystone

The rapid pace and scale of digital innovation and its impact on the economy is expected to be high on the agenda of the World Economic Forum (WEF)’s flagship event in Davos in January.

More than 2,500 business leaders, politicians and VIPs are expected to travel to the Swiss resort of Davos in canton Graubünden for the 46^th annual WEF meeting on January 20-23. 

The main theme of the 2016 session is “Mastering the Fourth Industrial Revolution”, focusing in particular on the latest developments in mobile internet, chip technology and artificial learning. 

WEF founder and executive chairman Klaus Schwab said it was important to have a globally shared understanding of how technology was shaping society and future generations. 

“There are many challenges in the world today, and I feel that one of the most intense and impactful will be shaping the ‘Fourth Industrial Revolution’ – driven by the speed, the breadth and the complete ‘systems innovation’ of technological change underway,” Schwab said in a statement on Tuesday.

The WEF says it will be looking at how digital technology is transforming in particular the health sector, transport, financial services and education.

“How can technology be deployed in ways that contribute to inclusive growth rather than exacerbate unemployment and income inequality?” the organisation asked in a statement.

Participants already announced include Mary Barra, CEO of General Motors, Tidjane Thiam, CEO of Credit Suisse, Satya Nadella, CEO of Microsoft, and Hiroaki Nakanishi, chairman and CEO of Hitachi.