DELIVERING ACTIONABLE INSIGHTS ON THE DAY’S NEWSAs only McKinsey can
Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
•
Davos’s AI agenda. About 200 government leaders, scholars, and AI experts met in November 2023 at a World Economic Forum (WEF) summit on AI governance and regulation. Attendees highlighted the importance of learning through experience and adopting AI gradually; their conversations point to potential talking points ahead of the the 2024 WEF annual meeting at Davos. Stakeholders should focus on building inclusive, trustworthy platforms rather than making “speed for speed’s sake” a goal, said a US software executive. [WEF]
AI’s benefits and risks. The Brookings Institution reports that at the 2023 WEF AI Governance Summit, leaders stated that organizations should weigh the benefits of generative AI (gen AI) against risks such as cybercrime and unpredictability in AI models. Governance is needed at many levels, including when organizations are developing and deploying technological tools. Businesses, policy makers, and financial backers should work together to develop safe and inclusive forms of technology. [Brookings]
Trustworthy AI. What can we expect at Davos 2024? Former and current WEF Young Global Leaders (YGL), a group of professionals from around the world, spoke with McKinsey Global Publishing leader and YGL alumnus Raju Narisetti about what aspect of gen AI they think Davos participants should discuss this year, as well as other key topics. For Mastercard executive Shamina Singh, gen AI must be developed with “transparency, accountability, and trust … to ensure personal information remains just that—personal.”
New forms of governance. It’s important for leaders to implement a regulatory framework for gen AI, says Leslie Maasdorp, vice president and CFO of New Development Bank. That will require new, more agile forms of governance models that can include contributions from multiple stakeholders, including academia, industry, and governments, Maasdorp explains. For perspectives from 17 members of the YGL group, explore our interactive feature, “Young Global Leaders on Davos 2024.”
— Edited by Belinda Yu, editor, Atlanta
Was this forwarded to you? Sign up here.
Or send us feedback—we’d love to hear from you.
Follow our thinking
