World Economic Forum

Acronym: WEF

Established: 1971

Address: Route de la Capite 91-93, 1223 Cologny/Geneva, Switzerland

Website: http://www.weforum.org/

Stakeholder group: International and regional organisation

WEF is a not-for-profit foundation whose membership is composed of large corporations from around the world. The Forum engages political, business, academic, and other leaders of society in collaborative efforts to shape global, regional, and industry agendas. Together with other stakeholders, it works to define challenges, solutions, and actions in the spirit of global citizenship. It also serves and builds sustained communities through an integrated concept of high-level meetings, research networks, task forces, and digital collaboration.

Digital activities

The fourth industrial revolution is one of the Forum’s key areas of work. Under this focus, it carries out a wide range of activities covering digital policy issues, from telecom infrastructure and cybersecurity to the digital economy and the future of work. It has set up multiple platforms, and global forums focused on bringing together various stakeholders and initiatives to advance debates and foster cooperation on the issues explored. It also publishes reports, studies, and white papers on its focus areas, and features discussions on the policy implications of digital technologies in the framework of its annual meeting in Davos and other events organized around the world.

Digital policy issues

Telecommunications infrastructure

The Forum’s work in the area of telecom infrastructure is broadly dedicated to shedding light on the need to advance connectivity and evolve towards new network technologies as a way to support the transition to the fourth industrial revolution. For instance, the Global Future Council of New Network Technologies, active between 2018 and 2020, explored, among others, incentives for network development and the role of new network systems in driving value and innovation A specific focus area for the Forum is 5G: It has identified 5G as an issue of global importance and works on analyzing the impacts of 5G on industry and society. In its report titled The Impact of 5G: Creating New Value across Industries and Society, the Forum notes that 5G will be critical because it will enable unprecedented levels of connectivity, allowing for superfast broadband, ultra-reliable low latency communication, massive machine- type communications, and high reliability/availability and efficient energy usage, all of which will transform many sectors, such as manufacturing, transportation, public services, and health. In another example, the 5G Outlook Series: Enabling Inclusive Long-term Opportunities looks at what can be done to ensure that 5G is a technology that benefits people, businesses, and society.

Artificial intelligence

The Forum is carrying out multiple activities in the field of artificial intelligence (AI). The platform on Shaping the Future of Technology Governance: Artificial Intelligence and Machine Learning brings together actors from public and private sector co-design, test, and implement policy frameworks that accelerate the benefits and mitigate the risks of AI. Project areas include AI uses in the public sector, the responsible use of technology, AI standards for protecting children, and addressing the challenges of facial recognition technology. In addition, the Forum created a Global Future Council on AI for Humanity to work on policy and governance solutions to promote the inclusion of underserved communities in the development and governance of AI. In an example of outputs, the Council published a Blueprint for equity and inclusion in AI. The Forum also explores issues related to AI safety, security, and standards; AI ethics and values; and machine learning (ML) and predictive systems in relation to global risks and international security. It publishes articles on the need to build a new social contract to ensure that technological innovation, in particular AI, is deployed safely and aligned with the ethical needs of a globalizing world. It is also assisting policymakers in devising appropriate AI-related policies. For instance, it published a Framework for Developing a National Artificial Intelligence Strategy to guide governments in their efforts to elaborate strategies for the development and deployment of AI. In recent years, AI and its impact on national and international policy spaces have featured highly on the agenda of the Forum's annual meetings in Davos.

Blockchain and cryptocurrencies

The platform on Shaping the Future of Technology Governance: Blockchain and Digital Assets works to advance a systemic and inclusive approach to governing distributed ledger technologies (DLT), to ensure that everyone can benefit from these technologies. The Forum works on governance issues related to the equity, interoperability, security, transparency, and trust of DLT. It also analyses the relationship between blockchain and cybersecurity and international security, as well as the future of computing. It publishes papers on issues such as the challenges blockchain faces and its role in security, as well as guides such as the Blockchain Development Toolkit to guide organizations through the development and deployment of blockchain solutions.

Internet of things

The platform on Shaping the Future of Urban Transformation explores various issues related to the implications of connected devices and smart technologies. For example, the Future of the Connected World initiative focuses on activities intended to help realize the potential of the internet of things (IoT) in a way that benefits all.

The platform on Shaping the Future of Mobility focuses on exploring opportunities and challenges related to technologies such as autonomous vehicles and drones.

Other IoT-related issues that the Forum has been exploring through various publications and initiatives include the industrial internet, the safety of smart home products, and challenges associated with the concept of the internet of bodies. In co-operation with the Massachusetts Institute of Technology (MIT), the Forum published a report on Realizing the Internet of Things – a Framework for Collective Action outlining five pillars for the development of IoT: architecture and standards, security and privacy, shared value creation, organizational development, and ecosystem governance.

The Forum also leads the G20 Global Smart Cities Alliance on Technology Governance, dedicated to promoting the responsible and ethical use of smart city technologies.

Emerging technologies

Virtual/augmented reality

The Forum is expanding and streamlining its work on virtual and augmented reality (VR/AR) by creating the Global Future Council on Virtual and Augmented Reality, which focuses on raising awareness of the positive and negative aspects of the widespread adoption of VR/AR technologies. It carries out policy research and analysis related to the impact of VR/AR on society and its security implications in publications on issues such as immersive media technologies, AR innovation in manufacturing, and privacy in the context of VR use’.

Quantum computing

The Forum has created the Global Future Council on Quantum Computing, through which it intends to explore computing-related trends, including new foundational technologies and techniques for centralized

and distributed processing. It also publishes regularly on the relationship between quantum computing and cybersecurity. Moreover, the Quantum Security initiative brings together stakeholders from governments, the private sector, academia, and non-profit organizations to exchange ideas and cooperate on issues related to promoting the secure adoption of quantum technologies.

Cybercrime

Under its Centre for Cybersecurity, the Forum runs the Partnership against Cybercrime project, focused on advancing public-private partnerships (e.g. between law enforcement agencies, international organizations, cybersecurity companies, and other actors) to combat cybercrime. Cybercrime also constitutes the focus of various studies and articles published by the Forum, which delve into issues such as emerging threats and ways to tackle them. In one example, the 2020 Cybercrime Prevention Principles for Internet Service Providers outlines actionable principles to prevent malicious activities from reaching consumers.

Network security/critical infrastructure/cybersecurity

The Forum has launched a Centre for Cybersecurity dedicated to ‘fostering international dialogues and collaboration between the global cybersecurity community both in the public and private sectors’. Multiple projects are run under this platform, such as the Cybersecurity Learning Hub, the Global Coalition to Fight Financial Crime, and the Digital Trust initiative. The cyber resilience of critical sectors, such as electricity and the oil and gas industry, is also a focus area for the Forum.

Data governance

The Forum's platform for Data Policy is dedicated to developing innovative approaches to enable the responsible use of data. Within this platform, the Data for Common Purpose Initiative aims to support the creation of flexible data governance models, oriented around common purposes. It regularly publishes reports and papers on data governance issues such as restoring trust in data, cross-border data flows, data protection and security, among others.

E-commerce and trade and digital business models

Several activities and projects run by the Forum focus on e-commerce and broader digital-economy-related issues. Under its Digital Trade initiative (part of its Shaping the Future of Trade and Investment platform), the Forum has been exploring opportunities and challenges associated with digital trade, while also engaging in the shaping of global, regional, and industry agendas on digital trade. Projects run within the initiative include, among others, the Digital Economy Agreement Leadership Group – which aims to contribute to the growth of inclusive and sustainable digital economies, and the TradeTech project– which facilitates dialogue on public policy and regulatory practices related to digital trade. E-commerce is also tackled in studies, white papers, and events produced by the Forum, which address issues such as e-commerce in emerging markets, the impact of e-commerce on prices, and digital currencies.

The Forum has also established a platform for Shaping the Future of Digital Economy and New Value Creation, to ‘help companies leverage technology to be agile in the face of disruption and to create the new digitally enabled business models’. Under the Centre for the New Economy and Society, it brings together various stakeholders to promote new approaches to competitiveness in the digital economy, with a focus on issues such as education and skills, equality and inclusion, and improved economic opportunities for people.

Future of work

Future of work is a topic that spans multiple Forum activities. For instance, under the Centre for the New Economy and Society, several projects are run that focus on issues such as education, skills, upskilling and reskilling, and equality and inclusion in the world of work. The Forum has also launched a Reskilling Revolution Initiative, aimed to contribute to providing better jobs, education, and skills to one billion people by 2030. Initiatives under this platform include Closing the Skills Gap Accelerators, Preparing for the Future of Work Industry Accelerators, Education 4.0, and the Skills Consortium.

Digital tools

Cryptocurrencies

The Forum is also active on issues related to digital currencies and their policy implications. For instance, its Digital Currency Governance Consortium focuses on exploring the macroeconomic impacts of digital currencies and informing approaches to regulating digital currencies. The Central Bank Digital Currency (CBDC) Policy-Makers Toolkit, published in 2020, is intended to serve as a possible framework to ensure that the deployment of CBDCs takes into account potential costs and benefits. Various publications have been issued that explore topics such as the macroeconomic impact of cryptocurrency and stablecoins, cryptocurrency regulation, and the links between stablecoins and financial inclusion.

  • Strategic Intelligence: The platform provides access to ‘transformation maps’ – mappings of ‘hundreds of global issues and their interdependencies’.

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