On January 20, during the World Economic Forum's assembly in Davos, approximately 3,000 participants from sectors including business and government convened to deliberate on global challenges and advancements. Among the sessions held was a TIME100 Talks panel named "Innovation in a Multipolar Era," which featured insights from executives representing Dow Chemical Company, EY, and NTT Data Inc. The discourse centered on the growing influence of artificial intelligence (AI) technologies and their wide-ranging implications.
Abhijit Dubey, CEO and chief artificial intelligence officer at NTT Data, opened the dialogue by highlighting AI's vast promise in areas such as the discovery of new materials, pharmaceutical innovations, and enhancements in productivity driven by technology. However, he underscored a unique aspect of AI compared to previous technological developments: it is the first innovation that operates autonomously, without direct human control. This characteristic introduces complexities regarding outcome predictability and accountability.
Additionally, Dubey pointed out the significant environmental footprint AI systems impose, including substantial energy and water consumption. The extraction of rare earth minerals required for AI hardware has also sparked concerns about resource scarcity and geopolitical tensions in certain regions where these materials are mined. These factors contribute to the complexity of scaling AI sustainably.
Beyond environmental issues, the labor market repercussions were a prominent theme. Dubey described a paradox where AI simultaneously generates enormous resource abundance while risking substantial disruption to existing employment structures. The challenge lies in managing this transition effectively to mitigate adverse socioeconomic impacts.
Addressing workforce challenges, Debra Bauler, chief information and digital officer at Dow Chemical, elaborated on the company's approach to AI integration. She emphasized supporting employees by evolving their roles from executing routine tasks to overseeing complex systems. Bauler acknowledged the reality of job displacement but expressed confidence that the long-term benefits of this transformation justify the interim difficulties.
In further exploration of workforce dynamics, Dubey remarked that technological transitions often lead to a net creation of jobs, typically generating one to two new positions for each role phased out. Nevertheless, he emphasized that protections for displaced workers cannot rely solely on corporate programs. Instead, he called attention to the necessity for structural solutions, such as public initiatives including universal basic income, to provide social safety nets.
Dubey also introduced the concept of potentially taxing AI entities akin to individuals, as a means to fund those impacted by automation-related employment shifts. He cautioned that governments worldwide currently lack frameworks to regulate these developments proactively, stressing that preparations must begin now rather than reacting to consequences after they materialize.
Complementing these perspectives, Raj Sharma, global managing partner for growth and innovation at EY, identified ‘‘trust, tools, and talent’’ as essential pillars for successful AI adoption. He argued that achieving balance among these elements is critical for enterprises aspiring to become ‘‘super-fluid,’’ effectively integrating AI to enhance operational agility and innovation capacity.
The session was facilitated under the auspices of TIME100 Talks and sponsored by Philip Morris International, providing a platform for leaders to reflect on how AI can be steered toward human-centered progress amid a multipolar global environment.