What caught my eye this week

Global Economic Trends: Stability Amid Divergent Growth Paths

The latest economic data paints a nuanced picture of the global economy, marked by slow but stable growth. According to the IMF’s October 2024 World Economic Outlook, global real GDP is projected to grow at a steady 3.2% annually through 2025, a subdued pace compared to the prepandemic average. Emerging markets continue to lead the way, with Asia—driven by India and China—poised for robust expansion. Advanced economies are faring unevenly: the US sustains strong momentum with a 2.8% growth forecast, while the eurozone and UK report more modest figures, grappling with structural challenges like aging populations and low productivity. Central banks worldwide are moderating interest rates as inflation aligns with targets, a notable shift from earlier tightening cycles.

Yet challenges abound, from geopolitical tensions and protectionist trade policies to sector-specific slowdowns. China’s economy, though resilient, is decelerating, prompting stimulus measures aimed at stabilizing real estate and financial markets. Europe faces tepid growth, with GDP increasing only marginally in the third quarter. On the manufacturing front, activity remains sluggish in the US and eurozone, contrasting with the vibrant services sectors. Emerging economies show a mix of resilience and vulnerability: India benefits from rising rural consumption, while Mexico struggles with declining manufacturing activity. Inflationary pressures persist, particularly in developing markets, driven by food price volatility.

Despite these pressures, global trade and financial markets show signs of resilience. Port activity and supply chain pressures have eased, while equity markets rally on optimism about economic stability. Commodity prices, though elevated, remain relatively stable, and unemployment rates across most regions hold steady or decline. The IMF underscores the importance of policy reforms to drive long-term growth and green transitions, highlighting that sustained recovery requires proactive governance to mitigate risks and capitalize on emerging opportunities.

🔗Source: McKinsey

AI in Developing Countries: A Game-Changer or a Fragmented Challenge?

Artificial intelligence (AI) holds immense potential to transform industries and resolve systemic issues in developing countries, but achieving meaningful results is fraught with challenges. Developing nations often face fragmented environments where weak governance, limited accountability, and bureaucratic inertia hinder coordinated action. This fragmentation is exacerbated by locked data—much of it scattered across government agencies, private organizations, and industry associations—rendering data acquisition and consolidation a herculean task. In countries like Brazil, where democracy and institutional frameworks are still maturing, the absence of organized and accessible data creates significant barriers to leveraging AI for public policy or corporate strategy development.

One of the core issues lies in the inability of states and institutions to effectively harness data and AI tools. The lack of skilled professionals and the inefficiency of public sector structures further impede the adoption of AI-driven solutions. Even private enterprises, which often hold vast amounts of data, struggle to make meaningful use of it due to fragmentation and a lack of strategic coordination. While international companies may have the means to act, weak regulatory enforcement in developing markets often leads to low-impact initiatives. The challenges extend beyond data collection to stakeholder buy-in: convincing players to act on insights—especially when they conflict with personal or institutional interests—requires significant effort and resources.

Despite these hurdles, initiatives like those of ReRe, a company working to uncover actionable insights in agricultural operations, suggest that AI could drive incremental progress. By painstakingly collecting and validating fragmented data, the company has uncovered critical issues, such as harmful reuse of agricultural chemical packaging in food transportation. These findings highlight the counterintuitive solutions AI can offer, provided there is sufficient collaboration and investment. However, the true game-changer may not be AI itself, but the soft skills and cooperative strategies needed to navigate the complexities of developing economies, ensuring that AI’s promise becomes a tangible reality.

🔗Source: Fast Company

Slush 2024: Helsinki’s Cold, Dark, and Buzzing Startup Extravaganza

The 16th edition of Slush, Europe’s marquee winter startup event, once again drew a vibrant mix of founders, investors, and industry enthusiasts to Helsinki. With over 13,000 attendees navigating through gloomy weather, dimly lit halls, and a packed agenda, the event focused heavily on AI, debates around European large language models (LLMs), and U.S.-EU tech dynamics. While the official program featured big topics like Donald Trump’s influence and the state of "EU Inc.," much of the real action took place backstage and in side events. Food critics lamented the venue’s strictly vegan offerings, while networking whispers revolved around which AI ventures might fold or sell, and which parties were unmissable—like General Catalyst’s exclusive winter ball in a castle.

For investors and founders, Slush proved both a goldmine and a grind. Matchmaking apps facilitated meetings, with Hoxton Ventures emerging as the top responder, but not everyone played by the rules; some VCs skipped the venue entirely, opting to camp in central Helsinki hotels for meetings. Founders flocked to the event less for panels and more for its unparalleled networking opportunities. Those who planned ahead, setting up meetings weeks in advance, reaped the most benefits, while others admitted to frantically dashing from one pitch to another with little success. Side events and WhatsApp groups offered tactical advantages, particularly for delegations from countries like India, South Korea, and Greece, which boosted visibility and camaraderie among their attendees.

This year’s Slush also saw a noticeable U.S. presence, with American scaleup founders scoping out European markets, albeit with some trepidation about regional labor laws. Absences included high-profile figures like Harry Stebbings and OpenAI, while notable attendees ranged from Kry’s Johannes Schildt to Revolut’s Nik Storonsky, who attracted eager admirers at after-parties. Despite its challenges—fewer LPs, unfilled panels, and chaotic scheduling—Slush remains a critical hub for relationship-building, underscoring the importance of preparation and strategy to make the most of this frosty, frenzied gathering.

🔗Source: Sifted

Carlo Acutis: The First Millennial Saint and Patron of the Internet

Carlo Acutis, a London-born teenager known as "God's influencer," will be canonized by the Catholic Church in April, becoming the first millennial saint. Acutis, who passed away in 2006 at the age of 15 from leukemia, earned the moniker for his online efforts, including designing websites for Catholic organizations and documenting Eucharistic miracles. His work inspired many within the Church, with a website he launched shortly before his death being translated into multiple languages and forming the basis of a global exhibition. Pope Francis confirmed the sainthood, citing a second miracle attributed to Acutis—a university student in Florence healed from brain trauma in 2024.

Acutis's journey to sainthood began with his beatification in 2020, following the first miracle attributed to him: the healing of a Brazilian child born with a congenital condition. His canonization marks a significant moment for young Catholics and highlights the potential of using digital tools for faith-based outreach. Nicknamed the "patron saint of the internet," Acutis's work underscores his devotion to blending modern technology with spiritual practice, making him a relatable figure for younger generations.

Set to take place on the weekend of April 26, the canonization will further cement Acutis's legacy. His body, now in Assisi alongside other relics, has become a site of pilgrimage. By elevating a modern, tech-savvy individual to sainthood, the Church acknowledges the evolving ways in which faith can be expressed and shared in the digital age, bridging the gap between tradition and contemporary life.

🔗Source: BBC News

Bluesky: Scientists Flock to a "Joyful" Alternative to X

Researchers worldwide are gravitating toward Bluesky, a burgeoning social media platform, to reclaim the collaborative spirit they once cherished on X (formerly Twitter). Since Elon Musk's controversial acquisition of X, marked by reduced content moderation and a rise in spam and abusive material, academics have increasingly sought refuge elsewhere. Bluesky’s growth, particularly following the U.S. presidential election, reflects this migration, with its user base swelling from 14 million to 21 million in just two weeks. Offering enhanced moderation tools, data accessibility, and customizable feeds, Bluesky has become a haven for researchers, fostering vibrant communities such as its popular Science feed, which garners 400,000 daily views.

Bluesky’s appeal lies in its safeguards and user-driven features, which contrast starkly with X’s chaotic environment. The platform empowers users to filter undesirable content, employ collaborative block lists, and utilize features like the “nuclear block” to protect interactions. For scientists like Yale neuroscientist Clíona Murray, these protections restore a sense of control. Murray, a co-founder of Black in Neuro, values the platform’s inclusivity efforts, such as the "Blacksky" starter pack, which filters racist and misogynistic content. However, some researchers remain wary of Bluesky’s rapid expansion, cautioning that the challenges faced by X—spam, scams, and bots—could eventually infiltrate the platform.

Despite Bluesky’s promise, the migration from X isn’t unanimous. While many researchers appreciate the collaborative and curated environment, others, like McGill University’s Madhukar Pai, express concerns about leaving X entirely, fearing a void of credible voices in debates dominated by misinformation. Bluesky’s trust and safety team is scaling efforts to maintain its appeal, but whether it can sustain its “place of joy” as it grows remains an open question. For now, Bluesky stands as a compelling example of how social platforms can adapt to meet the evolving needs of scientific communities.

🔗Source: Nature