The World Economic Forum’s 56th Annual Meeting (19–23 January 2026) in Davos, Switzerland, brought together leaders from across geographies, industries, and ge kinerations under the theme A Spirit of Dialogue. For 5 days, world leaders discussed topics ranging from international disputes to the effect of AI of businesses.
Day 1: Setting the Tone
Davos 2026 did not begin with policy prescriptions or economic forecasts; It began with music.
Inside the Congress Hall, the Opening Concert set a deliberate tone for the week ahead, one that framed dialogue not as rhetoric, but as harmony. The choice was intentional. As Børge Brende, President and CEO of the World Economic Forum, noted in his opening remarks, this year’s theme, A Spirit of Dialogue, demanded a different kind of introduction.
“Music knows no borders, it speaks no single language,” Brende said. “A violin, a trumpet, a clarinet and a drum come together in perfect harmony, each unique, each essential, each voice making the whole more beautiful.”
That sentiment was reinforced by André Hoffmann, Vice-Chairman of Roche Holding and Interim Co-Chair of the World Economic Forum, who described the concert as a reflection of the values Davos hopes to advance this week: openness, collaboration, diversity, and responsibility to future generations.
Larry Fink, Chair and CEO of BlackRock and also an Interim Co-Chair of the Forum, struck a similar note, drawing a direct parallel between the structure of the concert and the ambitions of the Annual Meeting itself.
“To expose people to wider ranges of voices, to a wider range of ideas, maybe even an argument,” he said, “but one that we have a deeper understanding of.”
The symbolism was unmistakable. At a time when debates around artificial intelligence are oscillating between promise and peril, the performance offered a third narrative: coexistence.
The second half of the evening shifted gears with a performance by multi-Grammy and Academy Award winner Jon Batiste. Known for his genre-defying style, Batiste delivered a set that was both technically masterful and emotionally resonant.
Day 2
If Day 1 at Davos set the tone, Day 2 confronted the tension at its core.
The conversation opened with a clear admission. Traditional growth models are under strain.
Salesforce CEO Marc Benioff, AXA CEO Thomas Buberl, Alphabet President and Chief Investment Officer Ruth Porat, Canada’s Minister of Industry Mélanie Joly and Mubadala CEO Khaldoon Khalifa Al Mubarak confronted the question many leaders are quietly asking. Where does sustainable growth come from when economies are fragile, and public trust is thin?
For Porat, artificial intelligence remains a central lever, but not in the way markets often frame it. AI, she said, cannot be reduced to cost-cutting. It’s true value lies in expanding what businesses are capable of doing, not merely doing the same things faster.
Benioff struck a more exuberant note, acknowledging that the economic upside of AI has been substantial. “We’re drunk on the growth,” he said, before adding a warning. Unchecked adoption without responsibility carries real risks.
Buberl grounded the discussion in European realities. AI, he argued, could be transformative for healthcare, but only if governments confront costs directly and align technology with long-term reform. The recurring theme was clear. Growth today demands leadership, not just innovation.
When asked which policy lever mattered most, Porat’s answer was telling. Not tax, not trade, but energy. Faster infrastructure development, she argued, is essential if economies are to absorb the demands of AI without driving costs higher. And when asked what students should study, her answer was simple. Philosophy.
AI and the New Global Divide
If growth was the question, AI was the arena where its contradictions were most visible.
In the session titled “AI Power Play No Referees,” leaders from Microsoft, the International Monetary Fund, Saudi Arabia, and India confronted an uncomfortable truth. Artificial intelligence is accelerating inequality even as it promises productivity.
Kristalina Georgieva delivered one of the day’s most sobering assessments. On average, she said, 40% of global jobs will be affected by AI, either enhanced, displaced or fundamentally altered. In advanced economies, that figure rises to 60%. In lower-income countries, it is far lower, not because they are protected, but because they are being left behind.
“The world is experiencing AI,” she said, “but not equally.”
Brad Smith framed the challenge in infrastructural terms. AI, he argued, is not just software. It is data centers, energy, water, chips and governance. Without deliberate investment in the Global South, the gap will widen. Microsoft data already shows generative AI usage at 25% in developed economies, compared to just 14% in developing ones.
Saudi Arabia’s Khalid Al Falih described AI as central to the Kingdom’s Vision 2030 strategy, but warned that access, not dominance, would define success. Diffusion, he said, is the real race.
India’s Ashwini Vaishnaw brought the conversation back to economics. Power, he argued, will not come from building the largest models, but from deploying the most efficient ones. Return on investment, he said, will define the next industrial phase.
Geopolitics Without Illusions
The day’s most candid political intervention came from Canadian Prime Minister Mark Carney, who described the current moment as a rupture, not a transition.
The post war economic order, he argued, no longer functions as designed. But retreating into nationalism would only accelerate decline. Canada’s response, he said, is value-based realism, building coalitions where possible, acting independently when necessary, and investing heavily at home.
France’s President Emmanuel Macron echoed the sentiment, warning that Europe must adapt to a world of hard power and sharper competition. Competitiveness, he argued, is no longer optional. It requires faster regulation, deeper capital markets and strategic investment in AI and energy.
Day 3
By the third day in Davos, the conversation had shifted decisively from systems to people.
If the earlier days were about markets, growth and geopolitical recalibration, Day 3 turned inward. It asked harder questions. Who benefits from progress? Who is left behind? And whether the systems being built are actually improving human lives.
Women’s Health as Economic Infrastructure
Women spend roughly a quarter more of their lives in poor health than men. That gap, speakers argued, is not only unjust but economically irrational. Closing it would unlock productivity, resilience and long-term growth.
The session brought together Sania Nishtar of Gavi, Severin Schwan of Roche, Gargee Ghosh Chasin of the Gates Foundation, Nadia Calviño of the European Investment Bank and Italy’s Health Minister Orazio Schillaci, with Nature editor Magdalena Skipper moderating.
Schillaci spoke from Italy’s experience, noting that longevity is not driven by technology alone but by universal healthcare, community support, prevention and sustained monitoring. Italy’s population of women living past one hundred, he argued, is proof that health outcomes are shaped by systems, not breakthroughs.
“Treat women’s health as longevity infrastructure,” he said.
Chasin reinforced the role of philanthropy as a catalyst rather than a substitute for public investment. She outlined three areas where foundations can make the biggest difference: advancing science, accelerating product development and enabling delivery at scale.
Debt, Fragility and the Fear of Stagnation
UN Trade and Development Secretary General Rebeca Grynspan warned that many developing countries are approaching a breaking point. Debt levels are rising, fiscal space is shrinking, and the ability to invest in growth is being squeezed.
“They don’t want to default on the debt,” she said. “But they are defaulting on development.”
Lebanon’s Economy Minister Amer Bisat echoed the concern, describing a growing fear among policymakers that they are spending more than they produce, with little room left to manoeuvre.
Latvian President Edgars Rinkēvičs pointed to geopolitical uncertainty as an added strain, noting how energy dependency has reshaped national security thinking across Europe.
Power, Politics and the Return of Hard Choices
Geopolitics returned to center stage with several high-profile interventions. President Javier Milei of Argentina delivered a forceful address outlining his country’s shift toward fiscal discipline, market reform and reduced state intervention. He framed Argentina’s transformation as a rejection of decades of economic distortion and a bet on productivity and entrepreneurship.
Donald Trump was the big headliner of the day, and his address drew global attention. Ranging from trade and tariffs to security and energy.
One year into his second term, President Trump declared a “booming” U.S. economy characterized by a projected 5.4% growth rate, record stock market highs, and the removal of over 270,000 federal bureaucrats. His “America First” agenda emphasizes energy dominance through the aggressive expansion of oil, gas, and nuclear power while dismantling renewable energy initiatives he labelled the “Green New Scam.”
On the global stage, Trump intensified his demand for the United States to acquire Greenland, citing its strategic necessity for North American security and the historical inability of Denmark to defend the territory. While vowing not to use force, he insisted on “right, title, and ownership” to build a protective “golden dome” missile defense system over the hemisphere. He further pressured NATO allies to increase defense spending to 5% of GDP and touted his role as a peacemaker, claiming credit for settling several international disputes and pledging to end the war in Ukraine through immediate negotiations with Presidents Putin and Zelenskyy.
The President also defended his use of “reciprocal” tariffs to narrow trade deficits and lower domestic prescription drug prices, recounting specific ultimatums given to European leaders to align their pharmaceutical costs with the U.S. market. He reaffirmed a hardline stance on immigration, celebrating a year of “reverse migration” and the mass removal of “career criminals” and “illegal aliens” from American cities. Closing his address, Trump framed the current era as a competition for technological supremacy, asserting that the U.S. must maintain its lead over China in AI and energy production to preserve Western cultural achievement.
In parallel sessions, NATO leaders and European heads of state debated whether Europe can defend itself in an era of renewed geopolitical tension. Mark Rutte described the moment as one of serious testing but also opportunity, arguing that Europe’s growing defense coordination could strengthen the alliance rather than weaken it.
Day 4
Day Four of the World Economic Forum unfolded as one of the most densely packed and thematically layered days of the week, moving from geopolitics and economic realism in the early hours to questions of technology, humanity and meaning by nightfall.
The day began with a strong geopolitical undertone. In an early morning conversation, Israeli President Isaac Herzog joined Fareed Zakaria to discuss the shifting balance of power in the Middle East. His remarks reflected both urgency and caution, touching on regional instability, the fragility of the Iranian regime, and the growing relevance of multilateral dialogue in moments of fracture. He pointed to the Abraham Accords as a reminder that political breakthroughs remain possible, even in periods of deep mistrust, while acknowledging that the coming year would be pivotal for Israel’s domestic and foreign policy posture.
The world’s wealthiest man was at Davos too. Elon Musk’s address at Davos 2026 framed artificial intelligence and robotics as the definitive catalysts for a future of “unprecedented global abundance,” suggesting that the deployment of ubiquitous, low-cost AI could trigger an economic expansion beyond historical precedent.
Musk identified humanoid robots as a transformative force capable of redefining productivity and addressing labor shortages, while simultaneously warning that the primary constraint to this growth is a global deficit in electrification capacity.
Economic questions soon took center stage. Conversations on the US economy highlighted the paradox of strong growth coexisting with widening inequality and institutional distrust. While American productivity continues to outperform expectations, speakers warned that the uneven distribution of gains could become a destabilizing force.
Later in the morning, attention shifted to sustainability and global health. Panels on plastic pollution and non-communicable diseases painted a stark picture of systems under strain. Speakers warned that without structural changes in consumption, healthcare delivery and food systems, economic growth would continue to come at a human cost.
By midday, geopolitics returned sharply to the foreground. Ukrainian President Volodymyr Zelenskyy delivered one of the day’s most consequential addresses. Speaking candidly about the war and Europe’s security architecture, he called for a stronger and more unified response from Western allies. He said fast-moving events on Greenland are moving “too fast for Europe”. But said, “Europe must build a better world” and act together. His remarks about Europe’s fragmentation and the urgency of collective defense drew a standing ovation.
Discussions on global trade revealed how the rules-based order is being reshaped by protectionism, industrial policy and geopolitical rivalry. WTO Director-General Ngozi Okonjo-Iweala argued that trade is not collapsing but evolving, and that adaptability would determine whether institutions remain relevant.
Day 5
Day Five opened with a focus on science under pressure. Speakers highlighted how research, from cosmology to energy innovation, faces threats from eroding trust, geopolitical tension, and intellectual property disputes.
Attention then turned to mental health in an age of rapid disruption. Experts emphasized that technological change, shifting labor markets, and social fragmentation are outpacing support systems. Mental well-being was framed not as a peripheral concern but as central to economic resilience, productivity, and societal stability.
Later, climate scientist Johan Rockström spoke with measured optimism. He emphasized that evidence shows the window for effective climate action remains open, and that the transitions ahead, from energy to food systems, are opportunities for better health, security, and economic outcomes rather than sacrifices.
The day and forum concluded with a focused discussion on the global economy. Christine Lagarde stressed accuracy in interpreting growth figures, Kristalina Georgieva warned of AI-driven job displacement for the middle class, and Albert Bourla highlighted that mistrust among nations now poses a greater risk than policy missteps. Mohammed Al Jadaan added that high public and private debt and rapid AI investment require vigilance.
