Executives from Dow Chemical Company, EY, and NTT Data Inc. shared their views on the effects of expanding new technologies such as AI during a TIME100 Talks panel discussion held in Davos on January 20. 

The panel occurred alongside the World Economic Forum’s annual meeting, which began on January 19 in Davos, attracting approximately 3,000 high-level attendees from business, government, and other sectors, along with numerous observers, journalists, activists, and others.

During the panel, titled “Innovation in a Multipolar Era,” the participants explored the advantages of AI integration, its potential in fields like healthcare and education, and some of the challenges associated with scaling the technology within businesses. 

“We…observe significant benefits, whether it’s the discovery of new materials, new drugs, or technology-driven productivity,” stated Abhijit Dubey, CEO and chief artificial intelligence officer at NTT Data. “However, we must also be cautious about our actions.” 

He further noted that, unlike all prior innovations, AI is the “first technology that will truly be non-human driven.” This not only can result in unforeseen consequences but also demands large quantities of energy and water, along with the mining of rare earth minerals, which in some instances are leading to . 

Another concern is the “paradox of massive abundance coexisting with significant labor market disruption,” Dubey said, emphasizing it is “something we must closely monitor.”

“The hardship lies not in the end goal but in the transition,” added Debra Bauler, chief information and digital officer at Dow, who elaborated on how the company is engaging its workforce amid the AI transition. “We consider how we collaborate with our team members. We aim to shift them from task performers to system directors,” she stated. “There will be job effects, but we believe the end goal justifies this transition phase.”

In any technological transition, regarding jobs, “for every one lost, one to two are created,” Dubey noted. He argued that protecting those adversely affected cannot be solely the responsibility of the private sector. Beyond publicly supported mechanisms such as , he mentioned that a proposed funding solution under discussion is taxing AI agents, similar to how humans are taxed. “Structural mechanisms need to be planned now, as we can’t address this reactively,” he said, adding, “No government globally is currently equipped to handle this.”

Raj Sharma, global managing partner for growth and innovation at EY, stated that for AI to introduce an era of what he terms “super-fluid enterprises,” the essential elements are trust, tools, and talent. “The three must be balanced to ensure AI adoption,” he said. 

TIME100 Talks: Innovation in a Multipolar Era was presented by Philip Morris International.