Summer Davos ends with call to boost innovation and growth

Global leaders have called for greater investment in innovation, skills and technology to drive economic growth as the World Economic Forum's Annual Meeting of the New Champions concluded in Dalian, China.

More than 1,800 leaders from government, business, academia and international organisations attended the three-day gathering, commonly known as Summer Davos, which focused on how emerging technologies can be translated into long-term economic growth and job creation.

Held under the theme "Innovating at Scale", discussions centred on artificial intelligence, digital transformation, clean energy and entrepreneurship, with delegates examining how new technologies can improve productivity and strengthen economic resilience.

Participants said artificial intelligence is becoming a key driver of competitiveness, but warned that investment in infrastructure, education, skills and regulation will be essential if countries are to fully benefit from the technology.

The meeting also explored the changing nature of work, with the World Economic Forum estimating that around 40 per cent of global employment will be affected by AI, highlighting the need to prepare workers for new industries and emerging roles.

Entrepreneurs and technology companies played a central role, with more than 200 innovators showcasing how advances in areas including healthcare, agriculture and energy could move from research into widespread commercial use.

World Economic Forum President and CEO Alois Zwinggi said the next phase of innovation will depend on turning technological breakthroughs into tangible economic and social benefits through closer collaboration between governments, businesses and academic institutions.

Larry Fink, Co-Chair of the World Economic Forum, said scaling innovation in a way that boosts productivity, investment and prosperity will be critical to sustaining future growth.