Stakeholders For A Cohesive And Sustainable World
Today, we see the erosion of the international solidarity that forms the foundation of our global governance architecture. New multilateral initiatives or supranational bodies are unlikely to stem the decay. This geopolitical reality is the reason why communities and networks are forming to address pressing global concerns such as climate change, sustainable development and economic inclusion. Although interconnected, most operate independently of other stakeholders to the detriment of achieving an even greater collective impact. Increasingly absent is the political and societal cohesion that enables such collaboration.
But, will the arrival of Globalization 4.0 result in our acknowledging these changes and working together to create new opportunities for humankind? Or will globalization suffer from multiple geopolitical, economic and environmental crises that strain multilateral institutions and hinder efforts to collaborate towards a shared future? Progress in either instance will require a platform that can act as an honest broker among the competing and increasingly conflicting values and ambitions of nations, industries and societies.
In this regard, four global issues clearly stand out as urgent and important, and will feature prominently on the agenda at the Annual Meeting 2020 in Davos: 1. How to address the urgent climate and environmental challenges that are harming our ecology and economy 2. How to transform industries to achieve more sustainable and inclusive business models as new political, economic and societal priorities change trade and consumption patterns 3. How to govern the technologies driving the Fourth Industrial Revolution so they benefit business and society while minimizing their risks to them 4. How to adapt to the demographic, social and technological trends reshaping education, employment and entrepreneurship.
Oliver Wyman at Davos
Dispatch From Davos
Climate change, risks, and the required changes from governments and the private sector were among the most prominent themes addressed at this year’s 50th World Economic Forum Annual Meeting. The discussion around these pressing topics kicked off with the launch of the Global Risks Report 2020, which is published by the World Economic Forum with support from Marsh & McLennan and which highlighted climate risks among the top 5 facing the world.
The Oliver Wyman Forum continued to make important contributions to various debates in Davos this year.
John Romeo, Head of the Oliver Wyman Forum, and Kaijia Gu, who is an Oliver Wyman Partner and a leader of the City Readiness team, hosted a breakfast session on the topic of City Readiness, specifically centered on the subject: “Meeting AI Disruption Head-on In Today’s Cities.” The session was moderated by Zach Seward, Co-founder and CEO of Quartz, and focused on the readiness of cities to meet disruption caused by implementation of AI-enabled technology. Our Global Cities AI Readiness Index, which we launched last September at the Singapore Summit, provided key insights on the challenges and opportunities cities and their stakeholders face.
John was later joined by Oliver Wyman Partner Doug Elliott to host a second Oliver Wyman Forum session on Data Futures Collide. Panelists included Alan Trefler, Founder and CEO, Pegasystems; JoAnn Stonier, Chief Data Officer, Mastercard; and Brad Carr, Senior Director, Digital Finance, Institute of International Finance. The panel focused on what’s needed to manage the potential collision of present and future contending data needs and aspirations and downside risk. What are the rules of the road? Are architectures and partnerships necessary? How should they be created? Doug moderated and led a lively debate.
We also launched our 23rd Annual State Of The Financial Services Industry report during a special lunch presentation and discussion. Chris Allchin, lead author of the report; Ted Moynihan, Oliver Wyman Managing Partner and Global Head of Financial Services; and Seo Young Lee, the leader of our North-Asian business, led the discussion focused on: How do financial services firms create a vision that improves the lives of employees and customers while still increasing shareholder value? How do they build a next generation digital structure that is not controlled by any one company? The report presentation was complemented by a panel discussion with David Marcus, Head of Calibra, about financial inclusion and the future of payments.
World Economic Forum / MMC / Zurich Insurance Global Risks Report 2020 Launch
Media Launch at Dow Jones UK (London). John Drzik (President Global Risk and Digital, Marsh); Peter Giger (Chief Risk Officer, Zurich); WEF speakers TBD
Client Event at MMC Tower Place. John Drzik (President Global Risk and Digital, Marsh); Peter Giger (Chief Risk Officer, Zurich); WEF speakers TBD
Mercer Breakfast: Getting Real About Gender Equality.
Continued discussion (have had this breakfast for the last 4-5 years) from Mercer’s work with the Forum on inclusion and diversity in the workforce, this year focused on real actions in order to pick up the pace and achieve goals. Led by Pat Milligan (Mercer)
Marsh & McLennan Companies Breakfast: Harnessing Private Capital to Enhance Climate Resilience.
How to engage and energize public / private partnerships to address natural catastrophes / climate events. Led by Peter Beshar (MMC) and Erick Gustafson (MMC)
Oliver Wyman Forum Breakfast: Meeting AI Disruption Head-On in Today’s Cities.
Building on research around the readiness of global cities to meet disruption brought about by implementation of AI-enabled technology. Follow on Global Cities’ AI Readiness Index launched at Singapore Summit in September. Having assessed and measured the challenges and opportunities, what are the next steps to engaging city stakeholders to action? Kaijia Gu (OW) and John Romeo (OW Forum)
Oliver Wyman Lunch: State of the Financial Services Industry 2020 - Charting Wise Transformations in Financial Services.
MMC Client Dinner:
Niall Ferguson presenting
Mercer Breakfast: Transformational Investment.
Building on work currently underway with the Forum, discussion of cutting edge innovation in how very large institutional asset owners (e.g., sovereign wealth funds, etc.) are approaching both direct and portfolio investing, and where partnership and co-creation opportunities may exist. Led by Rich Nuzum (Mercer)
Oliver Wyman Forum Breakfast: Data Futures Collide.
Panel discussion of what’s needed to manage the potential collision of present and future contending data needs and aspirations and downside risks. What are the “rules of the road,” structures, architectures and partnerships necessary? How should these be created? Who should create them, and with what input? Led by Doug Ellliott (OW) and John Romeo (OW Forum)
2:45 – 3:45 pm
World Economic Forum Affiliated Session – Mercer: Aging and Retirement: Reimagining Longevity.
How can government, business, and civil society work together most effectively to ensure an aging population prospers as we transition to a new era that upends the traditional models of the life course? And how can businesses and government best harness technological innovation to more proactively manage health and financial needs in the future? Dimensions to be addressed: Transforming mindsets around retirement; supporting employability through healthier living; investing in innovative, human-centric retirement literacy, policy, and planning; technological innovation and new business models for aging. Led by Martine Ferland (CEO Mercer)