President Donald Trump's escalating pressure on the private sector to ditch diversity programs has left some in Davos searching for new words to describe workplace practices they say are essential to their businesses.

Trump has issued a series of executive orders cutting federal diversity, equity and inclusion (DEI) programs, which attempt to promote opportunities for women, ethnic minorities, LGBTQ+ people and other traditionally underrepresented groups.

Klaus Schwab’s departure from the helm of the World Economic Forum has been met with excitement by sections of the Right. As the figurehead for globalism and the elite adoption of a laundry list of progressive causes, the German became something of a bogeyman for conservatives around the world.

But the WEF’s reputation as a progressive champion — which it owes to highly publicised interventions such as the promotion of eating insects and the promise that future generations will “own nothing and be happy” — misses the bigger picture.

Arch-globalist and head of the World Economic Forum Klaus Schwab has reportedly informed staff that he will be stepping down as WEF executive chairman.

The 86-year-old self-appointed Sultan of Davos sent an email to staff on Tuesday announcing that he will no longer run the world’s most prominent globalist advocacy group although he will likely stay on in some non-executive role, the website Semafor claimed.

The conversations swirling around the chilly mountain air of Davos, Switzerland, keep returning to one issue. “2024 is the year of 50 or so elections around the world,” Carl Bildt, a former prime minister of Sweden, told me. “But there is only one election we are all talking about: the one in America.”

Publicly, the global business leaders who gathered at the World Economic Forum in Davos, Switzerland, haven’t wanted to predict the winner of the upcoming U.S. presidential election. The closest they’ve come? Referring to it as a “geopolitical risk.”

But talk to executives privately, and they’re more explicit: They expect Donald Trump to win and while many are worried about that, they are also resigned to it.

The president of the Heritage Foundation confronted hosts at the World Economic Forum Thursday in Davos, Switzerland, challenging claims that the WEF is protecting democracy and calling so-called elites "part of the problem."

A ghost of elections past in the form of ex-president Donald Trump haunted the annual schmoozefest of the world's political and business elites in Davos.

While the American reality television star-turned-politician was on the other side of the Atlantic, the biggest names in business, finance and politics at the Swiss Alpine resort could not escape him after he stormed to victory on Monday in the Iowa caucuses.

The International Monetary Fund warned that nearly 40% of jobs across the globe could be affected by the rise of artificial intelligence, with high-income economies facing greater risks than emerging markets and low-income countries.

The Washington, D.C.-based institution on Sunday assessed the potential impact of AI on the global labor market and found that, in most cases, the technology is likely to worsen overall inequality.

Artificial intelligence will affect almost 40% of global jobs, with advanced economies facing greater exposure than emerging markets and low-income countries, according to an International Monetary Fund analysis.

“In most scenarios, AI will likely worsen overall inequality, a troubling trend that policymakers must proactively address to prevent the technology from further stoking social tensions,” IMF Managing Director Kristalina Georgieva said in a blog post on the study.

Artificial intelligence will affect about 60% of all jobs in the US — and worsen income and wealth inequality, the International Monetary Fund warned.

Advanced economies such as the US are at the greatest risk due to the prevalence of cognitive task-oriented jobs, the IMF said, cautioning that the disruptive technology could replace more than half the jobs available in regions that also include Canada, the UK, Japan, Germany, France and Italy.

Comparatively, AI exposure was estimated to impact 40% of jobs in emerging economies and 26% of positions in low-income countries.