The World Economic Forum Annual Meeting 2019 has given India Inc a lot to learn in terms of how to apply new technologies like artificial intelligence and how to deal with economic and political uncertainties across the globe, top industry body CII’s Chandrajit Banerjee said.
He also said the next Davos summit in 2020 would be even bigger as it would be the 50th year of this global event.
CII itself has been associated with the WEF Davos summit for nearly 40 years now, the industry chamber’s director general said.
The focus this year at Davos has been the big challenge in terms of global uncertainties, he said, while noting there are economic and political risks that are being talked about here.
The second key point at Davos this time is about the huge dominance of industry and the talk about new technologies such as artificial intelligence (AI), he added.
Banerjee said the Indian industry has taken full advantage of these discussions to understand and learn how they can prepare their businesses for the future.
“There are learnings about how AI and these new technologies can be applied in areas of importance to India, be it agriculture, healthcare, education. That is a big takeaway from this Davos,” he said.
There is a role for the government and a role for the private sector in all of this, he added.
A related point which is very important is that as we go ahead, the Indian innovations would be very critical and we need to do it our own way after learning from others, he emphasised.
Banerjee said the states of India is another story here, while having a more inclusive society is another clear takeaway from Davos 2019.
About the Indian economy, he said for the last many years India has remained on the path of reforms and growth and it should stay the course.