AI, climate action and tariffs take center stage at Davos

The growth and regulation of AI, President Donald Trump’s proposed tariffs and climate change were the hot topics of discussion among the global and business leaders at the World Economic Forum in Davos, Switzerland.

AI regulation
UN Secretary-General Antonio Guterres and other leaders, including Accenture CEO Julie Sweet, stressed the urgent need for regulation of artificial intelligence, cautioning against its potential misuse while acknowledging its promise to revolutionize education, healthcare and agriculture.

She hailed President Trump’s Stargate project but pointed out that, unlike other countries that put the guardrails first when it comes to further innovation in AI, the US seems set on its approach toward innovating first.

Meanwhile, Malaysian Prime Minister Anwar Ibrahim emphasized the need to accelerate AI adoption.

Trump tariffs
Several CEOs expressed their worry about Trump’s proposed tariffs and their impact on the price of goods. However, the UK’s Treasury Chief, Rachel Reeves, appeared optimistic that Britain might avoid such tariffs.

Spanish Prime Minister Pedro Sanchez called for tougher EU regulations on social media CEOs, highlighting the power “a reduced group of men” hold. He pointed to their role in spreading misinformation.

Climate change
Guterres warned against the world’s dependence on fossil fuels, likening it to a “Frankenstein monster” that endangers everyone. He urged countries to do more to fight global warming and called out Big Oil for backtracking their climate pledges.

Trump’s plan to drill for more oil in the US could lessen climate commitments from corporations.