How stakeholder capitalism and AI ethics go hand in hand

At a 2020 meeting of the World Economic Forum in Davos, Salesforce founder Marc Benioff declared that "capitalism as we have known it is dead." In its place now is stakeholder capitalism, a form of capitalism that has been spearheaded by Klaus Schwab, founder of the World Economic Forum, over the past 50 years. As Benioff put it, stakeholder capitalism is "a more fair, a more just, a more equitable, a more sustainable way of doing business that values all stakeholders, as well as all shareholders." Unlike shareholder capitalism, which is measured primarily by the monetary profit generated for a business' shareholders alone, stakeholder capitalism requires that business activity should benefit all stakeholders associated with the business. These stakeholders can include the shareholders, the employees, the customers, the local community, the environment, etc.