The Web Summit, one of the tech industry’s largest gatherings, opened Tuesday in Lisbon under the shadow of Donald Trump’s re-election, sparking discussions on what his second term could mean for technology and innovation.
The summit, which brings together 70,000 participants, over 3,000 startups, and 1,000 investors, is closely watching potential shifts in U.S. tech policy and international relations, particularly given the anticipated influence of SpaceX and Tesla CEO Elon Musk on the incoming administration.
During Trump’s previous term, the tech sector frequently clashed with his administration, with conflicts over immigration restrictions and an intensified trade war with China.
Now, as Trump prepares to re-enter office in January, industry leaders are contemplating new challenges, especially as AI and tech regulations gain global urgency.
The event kicked off Monday with a star-studded opening led by singer Pharrell Williams. This year’s summit sees a return of major firms like Meta and Google, following last year’s controversy when several companies withdrew after Web Summit CEO Paddy Cosgrave’s statements on social media, which accused Israel of war crimes in Gaza.
Cosgrave, who briefly stepped down, resumed his role and opened the summit without addressing the incident, focusing instead on the startup community.
Microsoft President Brad Smith is expected to present Microsoft’s forward-looking AI strategy, a theme that is front and center this year. Cosgrave described the summit as “one of the world’s biggest AI events,” with numerous sessions pointing out AI innovation and its potential societal impacts.
On Monday, Max Tegmark, president of the Future of Life Institute and a vocal AI critic, warned that humanity could be on a dangerous path due to rapid advances in artificial general intelligence (AGI).
Tegmark urged governments to adopt stringent regulations to prevent AGI from reaching a point where it could overpower human control, cautioning that it is not merely an “arms race” between global superpowers but a potential “suicide race” for humanity.
As the summit continues through Thursday, participants will delve into how the U.S. election results may shape the future of technology, with speakers and attendees alike grappling with the implications of a Trump administration for AI, big tech regulation, and global innovation.
Tech Industry convenes in Portugal amid uncertainty following Trump’s victory
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