Key takeaways from the WEF 2023 Top 10 Emerging Technologies panel

authored by Jamie Barclay, Head of Public Relations

In June, the World Economic Forum (WEF) and Frontiers co-published the much anticipated Top 10 Emerging Technologies of 2023 report and the associated Transformation Maps. Now in its 11th year, the report presents a list of breakthrough technologies with the greatest potential to make a positive impact on the world. For more than a decade, this report has served as a source of truth for business leaders, innovators, policymakers, and other professionals across industries and disciplines.

For those seeking to anticipate developing technologies and understand the associated risks and opportunities, the report is a landmark moment each year. Examples of previous technologies included are CRISPR and mRNA, both of which have gone on to benefit mankind to a near immeasurable extent.

Since it was published in June this year, the report has garnered significant public attention. To date, it has been cited in more than 750 instances across global media outlets, viewed approximately 50,000 times online, and has been downloaded 20,000 times. These statistics underscore the substantial value attributed to the insights it reports.

To foster that interest, the WEF and Frontiers joined forces to organize a dynamic live panel session in early September. This event featured distinguished experts, each recognized for their knowledge of and accomplishments in their respective areas. Dr. Fred Fenter, the Chief Executive Editor of Frontiers, moderated the discussion.

Below, we offer a summary of the expertise showcased during this panel session. We highlight key takeaways from the participants' perspectives regarding the implications of some of the emerging technologies outlined in the report, with a particular emphasis on Artificial Intelligence (AI). These insights extend to the realms of policy, governance, and broader societal impact and are framed in the context of how they can shape policies, influence business, and impact people’s everyday lives. Their perspectives shed light on the challenges and opportunities of some of those technologies captured in the report.

“There is an urgent need for well-defined policies that bridge the realms of science, technology, and entrepreneurship. This is particularly crucial for safeguarding the interests of people who stand to face upheaval due to the transformative nature of new technologies. Our approach must include reevaluating technology access, re-imagining the role of intellectual property, and proactively closing existing disparities. It is through this concerted effort that emerging technologies can play a pivotal role in achieving global objectives such as universal access to healthcare and the realization of the Sustainable Development Goals, with AI serving as a potent tool to propel us forward rather than divide us.”

Her Excellency María Fernanda Espinosa Garcés emphasized that harnessing the potential of emerging technologies hinges on our ability to agree and implement sensible policies, regulations, and protocols that do not exclude anyone. These measures should serve as guardrails, preventing disparities from emerging among individuals and organizations with varying capacities and between people from different geographies, particularly those in the connected world versus those not in a connected world. By doing so, we can ensure that these technologies serve all humanity, not just those who can access them.

The impact of AI on the job market underscores the importance of devising strategies to protect individuals who may be adversely affected by these technological advancements. Further, it’s important to recognize that the benefits of new technology should not be exclusive to the connected world, as digital access remains uneven between the global south and north. Inclusive policies must be implemented to shield those who are inadvertently marginalized. To create trust and manage concerns, regulatory measures within the policy are crucial, as we have seen in the European Union, for example, where robust AI regulations are being shaped.

Her Excellency also emphasized that we should remember that these technologies are tools that can augment but never replace human intelligence. Embracing these technologies can redefine our research methodologies, enhance governance systems, and revolutionize production and consumption processes but are a means to an end, not an end in themselves. As we look to the future, the incorporation of these technologies into global decision-making processes should remain a fundamental aspect of our agenda.

“Data has become the modern equivalent of a valuable resource like oil, and AI serves as the powerful engine that can harness this data for transformative purposes. When considering public trust in AI, relying solely on regulation may not be realistic due to the fast-paced and global nature of AI advancements and access. Instead, we should seek to establish robust ethical guidelines, enabling individuals to maximize the benefits of these technologies while feeling safe to do so. It's essential to manage human fear of new technologies and to do so, we must make sure AI does not overstep boundaries, particularly when it comes to impersonating human behavior.”

As Professor Hartung underscored, the pivotal role of strong ethical principles is central to the successful adoption of emerging technologies, particularly AI, which offers enormous potential and ways far beyond what we are seeing with the recent release of ChatGPT and similar platforms. While AI's more evident applications, such as the integration of AI chatbots in our daily lives, are becoming increasingly recognized, there exists a wealth of exciting and unexplored possibilities beyond these. AI has the potential to revolutionize communication in ways previously unimaginable, facilitating interactions with organoid structures, animals, and even within video games. However, in the short to medium term, a critical requirement is explainable AI – comprehending the rationale behind AI-driven decisions. Demonstrating this is how trust can be established.

One of AI's most significant contributions lies in addressing the challenge of information overload. In an era where meaningful online information sources are elusive, people often resort to social media for news. AI can play a vital role in unraveling this complexity and helping individuals make sense of data while promoting the dissemination of high-quality information. To support this, there is a pressing need for robust and transparent information sources, underlining the critical importance of open-access publishing in this evolving landscape.

“It is clear that AI is reshaping our lives, our work, and our problem-solving approaches, largely, it is seen as a good thing right now. The tools at our disposal have never been as sophisticated, accessible, or user-friendly as they are now. Some of society's most pressing issues, spanning healthcare, climate, and transportation, stand to be revolutionized by AI. Nevertheless, a profound duality exists, with AI offering immense opportunities on one hand and the potential for substantial harm and damage on the other, if not managed judiciously.”

In the context of the future of work, we find ourselves in an era where businesses, driven by heightened customer expectations, are eager to accomplish more with less and use AI to identify new efficiencies. However, it is important to be measured in our approach to AI adoption. All businesses now have access to these emerging AI tools, so the AI itself is not a unique competitive advantage. It's important, therefore, for businesses to understand that AI isn't a panacea; it operates within the confines of the data upon which it relies for decision-making. Yet, when applied strategically, AI can enhance productivity and optimize operations.

AI is undeniably the future of work, emphasized Ms. Pankhania. To remain competitive, businesses across various sectors will need to adapt and seamlessly integrate AI technology into their operations. Simultaneously, individuals will need to acquire the skills necessary to collaborate effectively with AI in their daily tasks. This transformation will also give rise to an increased demand for distinctly human qualities, such as soft skills, teamwork, problem-solving, and reasoning, which technology cannot replicate.

The session, which offers a more in-depth conversation on the themes captured above, is available to watch in full below.