I recently attended the World Economic Forum's Annual Meeting of the New Champions, which had the theme 'Next Frontiers for Growth.' It was an enriching experience, as over 1,500 high-level leaders from business, government, civil society, international organizations, prominent entrepreneurs, innovators, and academics came together to debate, brainstorm, and generate collective insights and deployable solutions.
Here are some key takeaways and my reflections on the event:
🌐 Economic Growth: The global economy is stabilizing with a projected 3.1% growth in 2024. #Governments are actively shaping economic policies, prioritizing technology and green industries for competitiveness. In my conversations with leaders, one point stood out: sustainable business models are critical for achieving business goals and driving global economic growth in a climate-impacted world. Transforming global food systems to be more environmentally friendly and #sustainable is essential, as this industry is at the forefront of providing basic human needs — food, fiber, and nourishment.
💡 AI and Innovation: Generative AI has sparked a surge in investments, with projections reaching $200 billion by 2025. #AI start-ups are driving growth, while advancements in biotechnology and quantum computing are on the horizon. It was highly satisfying to see leaders enthusiastic and supportive of AI #innovations in the food and #agriculture domains.
🔄 Industry Transformation: #Technology is the foremost driver of change, with industries pivoting towards sustainable growth models. Nearly half of executives are preparing for rapid tech evolution, ensuring survival and growth amid future shocks. While every industry has its own level of #tech maturity, it motivated me to stay true to our vision because agriculture has a long way to go in this journey, perhaps miles behind most other industries.
🌍 Climate Action: #Climatechange poses significant risks, necessitating further investment and action. The transition to cleaner energy is underway, with a focus on shared goals and a carbon-neutral, nature-positive future. Emerging markets face a $2.2 trillion investment gap to meet climate goals. The discussions around this theme were highly motivating for someone like me from the agri-food sector, as this industry will play a huge role in achieving global climate goals. I'm more confident today that #Agtech will stand out and gradually become the frontline warriors in the fight against climate change.
This memorable session provided valuable insights into the global macro-economic and socio-economic scenarios, energizing me to scale and raise the bar in our mission to transform global #foodsystems.
#AMNC24
#WEF
