Francisco Betti Head, Global Industries Team; Member of the Executive Committee, World Economic Forum Kathleen O’Reilly Senior Managing Director; Accenture Executive Sponsor, World Economic Forum Program; Global Lead, Deal Structuring and Pricing, Accenture Jack Azagury Group Chief Executive, Consulting, Accenture Foreword The advent of generative artificial intelligence (genAI) marks one of the most profound technological inflection points of the 21st century. What once resided in the realm of imagination or academic theory has rapidly materialized, promising to reshape how individuals and organizations communicate, work and interact. This transformation is catalysing a surge in AI investments, with enterprises and entire industries seeking to unlock new value for customers and stakeholders. Yet, despite the enthusiasm, most industry sectors and companies remain in the early phases of adoption, with leadership emerging from a select group of pioneering organizations that are setting the pace and direction. To accelerate this journey, the World Economic Forum launched the AI Transformation of Industries Initiative as part of the broader AI Governance Alliance (AIGA). The initiative aspires to harness AI’s transformative potential to unlock innovation, sustainability and growth across industry sectors while ensuring responsible and inclusive development. This initiative brings together a global community of nearly 400 members from over 300 organizations, engaging with the Forum’s 22 industry communities and its centres. Leveraging its neutral platform, the initiative aims to create a safe space for learning and knowledge exchange to help companies and government navigate the successful transformation of industries and businesses in the age of AI. By offering a roadmap that outlines key stages, identifying challenges and spotlighting successes, the initiative seeks to empower organizations to track their AI development, benchmark against peers, and scale adoption with clarity and confidence. Additionally, the initiative aims to unlock new collaborations between leaders in the private sector, public sector, civil society and academia and provide insights into both cross-industry and sector- specific opportunities and challenges posed by AI. By encouraging dialogue and cooperation, the initiative aims to drive the responsible and scalable transformation of industries. In partnership with Accenture, this paper marks the starting point of a white paper series. It reflects the initiative’s commitment to staying current with the rapidly advancing field of AI. It offers a deep exploration of the strategies, enablers and opportunities required to harness the power of genAI while presenting practical examples of responsible and innovative AI adoption and analyses of AI’s impact on industries, companies’ functions and regions. As the evolution of AI continues to redefine productivity and value creation, it also offers a critical opportunity to advance sustainable growth and innovation. Achieving these outcomes demands strategic foresight, responsible adoption and collective action. The path ahead holds immense promise to reshape industries, strengthen societies and deliver impact at scale – if stakeholders are able to seize the moment together. The coming years will be pivotal. By working in unison, we can ensure that the transformative potential of AI serves as a force for good, delivering lasting benefits to all stakeholders in a rapidly evolving digital age. AI Governance Alliance: Transformation of Industries in the Age of AI January 2025Cathy Li Head, AI, Data and Metaverse; Deputy Head, Centre for the Fourth Industrial Revolution; Member of the Executive Committee, World Economic Forum AI Governance Alliance: Transformation of Industries in the Age of AI 4

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