Last week, global leaders, policymakers, innovators, and business executives gathered in Davos, Switzerland, for the World Economic Forum and its vibrant ecosystem of sideline events. This year, discussions were shaped by the transformative potential of technology—particularly artificial intelligence (AI) and GovTech—and their roles in addressing governance and economic challenges.
FreeBalance’s President and CEO, Manuel Schiappa Pietra, was in Davos to share our insights from over 40 years of expertise fostering transparency, stability, and trust through digital transformation. With experience in more than 30 countries, we are well-versed in collaborating with governments on complex fiscal and governance challenges.
Key Themes from Davos 2025
This year’s events in Davos highlighted critical discussions on how technology is shaping the future of industries and public governance. Our key takeaways include:
We need to build economic resilience through technology.
Governments face increasing fiscal challenges, with many struggling to maintain public service delivery and investment levels while navigating budget constraints. Leveraging GovTech was identified as a crucial enabler of fiscal sustainability and resilience.
GovTech has potential totalling $10 trillion, if we use it strategically.
A new WEF report launched at Davos projected that GovTech could unlock nearly $10 trillion in public value globally by 2034. By improving transparency, efficiency, and sustainability in government operations, GovTech is transforming governance.
AI will play a critical role in public governance.
As AI continues to reshape industries, discussions emphasised the need to scale pilot projects into integrated strategies. For governments, AI holds the promise of revolutionising public service delivery and operational efficiency.
FreeBalance at Davos: Shaping the Future of GovTech
During his time in Davos, Manuel was able to connect with leaders, policymakers, and innovators to share FreeBalance’s experience of working in a range of developed, developing and emerging economies. Our new contacts were keen to hear about FreeBalance’s work in economies like Kosovo and Timor-Leste, and how our scalable digital solutions can address diverse governance challenges.
Left image: Egypt’s Minister of Planning, Economic Development and International Co-operation, Dr. Rania Al Mashat, shares perspectives on debt sustainability in Africa. Centre image: FreeBalance’s President and CEO, Manuel Schiappa Pietra was one of a select group of business executives invited to contribute to ODI Global’s roundtable event “A New Vision for Leadership: Collective action to tackle the crises of today and tomorrow”. Right image: Manuel Schiappa Pietra with Somalia’s Minister of Finance, Bihi Iman Egeh.
Technology as a Driver of Progress
The discussions in Davos served as a reminder that technology is not just an enabler but a critical driver of progress in the public sector. The connections we have made, and insights gathered, will inform how FreeBalance continues to deliver innovative solutions tailored to complex governance needs. We look forward to building upon these through 2025 and beyond.
To learn more about how FreeBalance’s solutions are helping governments around the globe to digitally transform their public financial management approaches, visit read our Customer Success Stories.