Insights from the World Economic Forum Annual Meeting

By Boston Consulting Group

What keeps leaders up at night? As global leaders gathered for the first January Davos since the pandemic began, there was a lot to talk about. Discussions about how to grapple with the global “polycrisis” and the scope of its impact were prevalent throughout the week. Here are some highlights:

• Uncertainty. Despite the gloomy numbers and predictions featured in new reports this week, the mood at Davos was less dour than it was uncertain. For many leaders, it feels unclear whether the global economy will thrive or decline in 2023. The key to navigating the years ahead will be a strategy that strengthens resilience and promotes agility.
• Action. The topic of climate and sustainability has been central to Davos discussions for many years, but this week marked a noticeable shift. Instead of the usual focus on intent, there was a significant commitment to action. There’s exciting progress toward the scaling of new, essential climate technologies, achieving Scope 3 goals, and forging partnerships, such as the First Movers Coalition and the Alliance of CEO Climate Leaders, both supported by BCG.
• People. Talent continues to be a top concern for CEOs. As organizations pursue digital and climate transformations, leaders need a clear understanding of what capabilities they’re lacking and how to fill in the holes. This means honing methods for upskilling current employees and seeking out the right people externally. Leaders can only attract and retain the best talent if they’ve built inclusive workplaces for LGBTQI+ people, racial and ethnic minorities, and other underrepresented groups—a notion that received more attention than in years past.

These are just a few of the focus areas from a full week of lively debate and information. For more insights, see below to hear directly from experts interviewed by Edie Lush on the ground in our BCG at Davos Studio.