The picturesque town of Davos buzzes with activity as global leaders, policymakers, and industry giants gather for the annual meeting of the World Economic Forum (WEF).
This year’s theme, ‘Collaboration in an Intelligent Age,’ underscores the transformative role of artificial intelligence (AI) in shaping the future while tackling pressing global challenges. Adding a unique touch to this year’s WEF promenade is India’s unified representation. For the first time, attending Indian states are housed under one roof, symbolizing a collective effort to highlight the country’s potential as a unified economic and innovation powerhouse.
As artificial intelligence (AI) dominates headlines and captures global attention, the world’s top tech companies took to Davos High Street to pitch their AI advancements.
IBM led with Watson X, emphasizing its ability to drive return on investment through advanced AI solutions. Wipro projected a vision of real-time insights to help businesses navigate a changing world. Qualcomm brought the conversation back to the “power of compute,” while Infosys declared its commitment to being “AI first.” Outside the Congress Center, Capgemini introduced “Intelligence meets Enterprise,” and Cisco promised to make AI seamlessly work for its clients. Salesforce, taking a human-centric angle, urged businesses to “bet on humans with agents.”
These slogans reflect the escalating investments tech giants are making in AI, but not without skepticism.
Recently, Goldman Sachs CEO David Solomon highlighted AI’s potential, citing how tasks like drafting IPO prospectuses—previously requiring six-member teams over two weeks—are now completed in minutes, with minimal human intervention.
However, the enthusiasm is tempered by concerns about returns. A Goldman Sachs report from June questioned whether the billions being funnelled into generative AI might be disproportionate to its tangible benefits. The report highlighted that while the promise of AI remains vast, the immediate productivity gains are still elusive.