World Economic Forum Annual Report 2023-2024

I am pleased to share this year’s annual report, highlighting the World Economic Forum’s role in addressing the world’s most pressing and significant challenges. We are on the cusp of a profound systemic transformation driven by
interconnected shifts in a rapidly changing world. During these challenging yet opportunity-filled times, our work
to foster collaboration, innovation and progress is more important than ever.

The five transformative shifts

1. Transition from the industrial to the intelligent age : The world is rapidly evolving from the Industrial Age, characterized by mechanization and mass production, to the Intelligent Age, where artificial intelligence (AI), machine learning and digital technologies drive unprecedented advancements. This transition is revolutionizing industries, enhancing productivity and fostering innovation. However, it also necessitates new skills, regulatory frameworks and ethical considerations to ensure technology benefits all.

2. Conflictual transition from a unipolar to a multipolar world: The geopolitical landscape is shifting from a unipolar world dominated by a single superpower to a multipolar reality with multiple influential nations. This transition brings both opportunities for diverse global cooperation and challenges stemming from increased geopolitical tensions. Balancing national interests with global stability requires nuanced diplomacy and international collaboration.

3. Need to transition to a green economy: Climate change and environmental degradation compel us to transition to a green economy. This shift involves adopting sustainable practices, reducing carbon emissions and promoting renewable energy sources. The urgency to fight climate change is not only a moral imperative but also a pathway to economic resilience and innovation. Achieving this transition demands coordinated efforts across governments, businesses and civil society.

4. Demographic shifts from a young to an ageing world: Demographic trends reveal a world transitioning from predominantly young populations to ageing societies, with significant geographical disparities. These shifts impact labour markets, healthcare systems and social security structures. Additionally, these demographic changes influence migration patterns, presenting both challenges and opportunities for fostering inclusive growth and social cohesion.

5. Societal polarization and rise of misinformation: In an increasingly complex and fast-moving world, societies are experiencing heightened polarization as people seek to reaffirm their identities. This manifests in cultural, political, ideological and social divides and the rise of mis and disinformation. Addressing this polarization requires fostering inclusive dialogues, promoting mutual understanding and creating environments where diverse views and identities can coexist harmoniously.

The role of the World Economic Forum
In today’s rapidly evolving global landscape, characterized by unprecedented complexities, risks and opportunities, the Forum’s mission is more important than ever. Here’s why:

1. Navigating change through stakeholder cooperation: Understanding and addressing these transformative changes requires the collaboration of all stakeholders – governments, businesses and civil society. The Forum facilitates this cooperation, bringing diverse actors together to address complex global challenges collaboratively and effectively.

2. Global collaboration on a trusted platform: Effective collaboration must be global and impartial. The Forum provides a trusted platform where stakeholders from different sectors and regions can engage in open, transparent and productive dialogues. Our commitment to impartiality ensures that all voices are heard and valued, fostering mutual trust and understanding.

3. Systematic approach to interconnected issues: In a world where economic, political, social, environmental and technological dimensions are interwoven, the Forum’s systematic approach plays an important role. We provide comprehensive analyses and frameworks that consider these interconnected aspects, helping stakeholders make
better-informed decisions and develop integrated solutions.

4. Future-oriented with deep knowledge of the Fourth Industrial Revolution: The Forum is inherently future-oriented, leveraging our extensive knowledge base, particularly in the technologies of the Fourth Industrial Revolution. By understanding and anticipating technological advancements, we help stakeholders harness these innovations for sustainable development
and inclusive growth.

I’m grateful to our partners, constituents and incredible staff. Their dedication, collaboration and commitment have
been instrumental in the progress we have made. Together, we will continue to navigate these transformative times,
seizing opportunities, mitigating risk.

SEE FULL REPORT ATTACHED

Media

Taxonomy

• Business Development
• Business Development