Publications
Partners
Cape Town – The fast pace of global innovation must be matched by agility in setting rules, norms and standards for this evolving new world.
That’s the message from Klaus Schwab, founder and executive chairperson of the World Economic Forum, in the opening plenary of the Forum’s eighth Summit on the Global Agenda in Abu Dhabi on Monday.
“In the future it will not be the big fish that eat the small fish; it will be the fast fish that eat the slow fish,” he said.
He said the Fourth Industrial Revolution, a wave of new technologies and innovations that will change practically all aspects of life, is coming.
The world and every individual needs to prepare for its impact, he warned.
“The new technology age, if we shape it and contribute to it in a responsive and responsible way, can catalyse a new cultural renaissance that will enable us to feel a part of something much larger than ourselves – a true global civilisation.”
But he said this preparation requires thinking about the key global challenges “in an integrated way, with the public and private sectors working together: the best minds in the world. That is how we can define the issues in a strategic and proactive way and create possible solutions and action.”
Entrepreneurship and nimbleness will be important attributes of success in a world where changes are coming not in small waves, but like a tsunami.
Schwab said leaders need to ensure that the fast pace of innovation is matched by agility in setting rules, norms and standards for this evolving new world.
The Summit on the Global Agenda 2015 brings together more than 900 thought leaders and experts from business, government, civil society, academia and the media, who are among the members of the Forum’s network of over 80 Global Agenda Councils.
They are focused on finding innovative solutions and approaches to key global challenges, such as achieving inclusive growth and addressing climate change and natural resources security.
Saeed Nasser AlMansoori, a co-chair of the meeting and minister of economy of the United Arab Emirates, said innovation is the driver of efficiency and sustainability.
“Solutions to some of the pressing global challenges lie in sincere partnership between rich and poor nations; between large, small and medium-sized enterprises; and between global organisations and specialised entities,” he said.
WATCH: Watch the full session
