The World Economic Forum launched the Industrial Internet of Things: Unleashing the Potential of Connected Products and Services. The report demonstrates that the industrial internet of things will dramatically change manufacturing, energy, agriculture and other industrial sectors of the economy that, together, make up two-thirds of the global gross domestic product (GDP).
With the price of oil rock-bottom, now is the perfect opportunity to cut $2 trillion worth of energy subsidies across the world and invest it equally in job creation and education, with a special focus on women, said Christine Lagarde, Managing Director, International Monetary Fund (IMF), Washington DC. She was speaking at a panel debate examining global economic growth, inequality and the role of technology at the 45th World Economic Forum Annual Meeting.
China’s economy will not suffer a hard landing even as it braces itself for a further slowdown this year, Li Keqiang, Premier of the People’s Republic of China, said in a keynote speech at a special session of the Annual Meeting.
“The Chinese economy will face downward pressures in 2015, but will not head for a hard landing”.
Prime Minister Ahmet Davutoğlu of Turkey called for national ministers to set aside their parochial interests and act in the broader interests of humanity. Speaking in the context of Turkey’s presidency of the G20, he told participants at the World Economic Forum’s 45th Annual Meeting that his country’s priorities are an inclusive approach to global growth, implementation of the decisions taken by the G20, and investment and trade.
The World Economic Forum today launches the Global Strategic Foresight Community, a new multistakeholder peer network aimed at positively shaping future industry, regional and global agendas by identifying emerging or underappreciated global shifts and bringing them to the attention of decision-makers.