The topics at this year’s World Economic Forum meeting in Davos-Klosters, Switzerland, weren’t as wide-ranging as previous years. While leaders touched on several important matters, two topics were pervasive: AI and geopolitics. And, importantly, discussions focused on how leaders can equip themselves to respond—and excel—considering both.
During a recent McKinsey Live event, senior partners Becca Coggins and Shelley Stewart III discussed their observations from their time in Davos.
The following audio from the discussion has been edited for clarity and length.
It’s hard to ignore the geopolitical tensions felt across the world today: This was the topic at the start of every discussion. The uncertain macroeconomy is not only testing leadership but pushing the need for resilience, balanced optimism, and adaptability.
Global trade is expanding but reorganizing, which is forcing leaders to move with speed to take risks, open new avenues for trade, and function under a level of uncertainty. Leaders can focus on tasks within their control to protect their organizations, but they should also lean into optionality, diversification, and structural flexibility.
In 2026, leaders will have to bridge the gap between launching AI efforts and seeing real ROI. To realize this goal, leaders must pivot from running pilots to achieving impact at scale, which requires three adjustments: an end-to-end reconfiguration of how work gets done, an AI-driven growth agenda to go beyond productivity improvements, and a cultural transformation, including an org chart with a mix of humans and agents.
Along with the increasing ubiquity of AI, the workforce will see a huge rise in the demand for AI fluency—people who can work with, embed, interpret, and adjust AI tools effectively. These skills will differentiate companies; but, over time, related human-only capabilities will also become more essential. Namely, leaders who are aspirational, can think big and creatively, and exemplify sharp judgment amid ambiguity will become more valuable.
As CEOs and top teams take on more issues at once, leaders with resilience, grit, and a learning mindset will separate the signal from the noise. They will be able to test, learn, course correct rapidly, and outpace those who wait for certainty.
