HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, witnessed the 49th session of the World Economic Forum in Davos, which was launched under the slogan "The Fourth Generation of Globalization.
The meeting was attended by His Excellency the Minister of Cabinet and Future Affairs Mohammed Abdullah Al Gergawi and a number of ministers and officials.
The Industrial Revolution
The participants reviewed the challenges of the Fourth Industrial Revolution era, ways of shaping globalization under modern technology, developing proactive solutions to the challenges facing societies as a result of instability in the world, identifying new models of stability and global cooperation, and supporting the integration of efforts to promote development and development. Global entrepreneurship and prepare for the next wave of globalization.
Speakers pointed to the radical changes taking place in global economies, societies and policies, and the need to unify visions to reach a common understanding that would help to create a better future for people and future generations and to capitalize on the abundance of new opportunities offered by modern technology.
They emphasized the importance of the transformational power of the Fourth Industrial Revolution, which has become a major contributor to the redefinition of production and consumption systems, and the need to employ its main features such as digitization, integration, transformation to smart systems and virtual reality in the transition from analytical to outlook systems and the establishment of clear ethical rules and guidelines for their use.
Policy integration
Participants stressed the importance of integrating national policies further into the global system, adopting a complementary and targeted approach to change, to ensure socially-oriented, human-centered progress and quality of life for future generations and to contribute to the challenges of the global structure of the revolutionary economy Fourth Industrial.
They pointed to the need for new ideas for the development of free and fair economic relations in today's world and to address the widening gap in the Fourth Industrial Revolution, in the face of the fierce competition of world powers.
They emphasized the importance of defining the principles of new and emerging technologies to ensure that these techniques are based on the necessary ethical principles, in order to preserve the security and confidentiality of information, the privacy of individuals and entities, and to ensure the promotion of the culture of innovation and the technological bases of the Fourth Industrial Revolution; To sustain sustainable growth and quality of life for all members of society, redefine economic theories and concepts and principles of decision-making processes.
Participants stressed the importance of exchanging ideas on the future of the world economy, the centrality of human capital, the need to employ new technologies, and business sectors to serve people and promote services.