Key Insights from Web Summit 2023: A Glimpse into Our Future
Will AI Save the Planet?
Microsoft’s chief sustainability officer, Melanie Nakagawa, painted a compelling picture of AI’s potential in tackling the climate crisis. She acknowledged the dilemma posed by AI’s escalating computational needs and its strain on emission-producing grids. However, she highlighted AI’s capacity to revolutionize sustainability efforts, citing instances such as AI-powered tech drastically reducing water wastage and optimizing electrical grid efficiency.
The Science of Psychedelics
Ekaterina Malievskaia, co-founder of Compass Pathways, highlighted the paradigm shift in psychedelic perceptions. With advancements in fMRI technology, understanding the neurophysiological processes behind psychedelics has demystified their effects. Notably, combining drug therapy with talk therapy has proven pivotal, as seen in substantial reductions in PTSD symptoms through therapies like ketamine.
Unraveling QAnon: A Modern Pandemic
Journalist James Ball delved into the QAnon phenomenon, likening it to a second pandemic. He emphasized the decentralized yet adaptable nature of QAnon, cautioning against dismissing it as a fringe conspiracy, given its infiltration into mainstream political spheres like the US Republican base and the UK Conservative party.
Bringing Virtual Characters to Life
Shuji Utsumi, COO at Sega, discussed the company’s plan to expand transmedia initiatives for its iconic IPs like Sonic the Hedgehog. The rise of VTubers in Japan, virtual gaming streamers using computer-generated avatars, has paved the way for gaming characters to transcend screens and venture into the real world.
Prioritizing Founder’s Mental Health
VCs are recognizing the need to support founder mental health amid funding downturns. Venture partners like Vera Baker and directors like Eileen Burbidge highlighted the duty of investors in providing mental health support for founders, citing examples where this was lacking, such as Monzo founder Tom Blomfield’s resignation due to mental health struggles.
Esports’ Evolution and Mobile Gaming Dominance
Craig Levine, co-CEO of ESL Faceit group, discussed the burgeoning dominance of mobile gaming in esports, attributing it to richer game experiences, diverse options, and a broader audience. Qualcomm’s Don McGuire emphasized the cross-platform accessibility of games and the merging of console-level gaming experiences onto mobile platforms.
Crypto’s Lessons and AI’s Potential
Actor Ben McKenzie scrutinized crypto’s rise and fall, drawing parallels to multi-level marketing and highlighting the substantial financial risks. Conversely, he expressed optimism about AI’s substantive potential, suggesting it surpasses the ‘doomerism’ surrounding it.
Trends to Watch in 2024
The discussion foresaw the integration of AI for innovative advancements rather than mere efficiency. It also highlighted the entertainment preferences of Gen Z and Alpha generations, emphasizing immersive media experiences and the need for brands to adapt. Furthermore, the evolution of fintech set a high bar for retail banks, urging them to enhance customer experiences to remain competitive in the market.