Fundo Vale participated in this event, which was aimed at promoting collective reflection and shedding a more humane light on new technologies. 

Photograph from Ciaran Bruder`s article on the Web Summit Rio blog

In its 13th edition, the Web Summit, the world’s biggest technology and innovation event, was held outside Europe for the first time, in Rio de Janeiro. The four-day 2023 Rio Web Summit brought together 21,000 attendees, 300 speakers, over 700 startups and 100 hours of talks, masterclasses and networking sessions. Fundo Vale was present, represented by analyst Letícia Zuardi. 

According to her, the event provoked collective reflection. “As well as sharing ideas, I think we all left with the certainty that we need to create more interactions between different areas. Technology and innovation alone are not enough to ensure high performance in the areas of sustainability, social and environmental impacts, blended finance and venture capital. People and our shared knowledge are what makes the difference, and this will always be the case,” she said. 

Here are some highlights of the event: 

Venture Capital – Despite last year’s reduction in valuations and the number of venture capital rounds, investors see bright prospects ahead. They think that the “venture capital winter” helped ground the market, bringing valuations down from excessive levels, especially in the areas of artificial intelligence, climate and biotechnology. 

Artificial Intelligence – This hot topic in the technology sector was debated exhaustively, even in sessions not focused on technology. The points of view expressed were not always similar: AI was attacked by some and others exaggerated its potential. Some people noted that AI tools are often based on inaccurate data, while others said they believe that the next industrial revolution will be based on AI. 

Climate Change – This was the subject of a masterclass called “Innovation and Decarbonization,” led by Ludmila Nascimento, Vale’s director of energy and decarbonization. What does mining have to do with innovation? She stressed the importance of decarbonization, shared some of the most innovative solutions for the mining of the future and revealed Vale’s initiatives in this area, such as research centers, technology institutes and support for startups that are restoring areas of native forest. 

Corporate Innovation – This topic was discussed in a different way, as cultural transformation was given much greater weight than technological transformation.