--- title: The End of Business as Usual description: Klaus Schwab argues that "we are living through one of the most consequential transitions in the history of business." canonical: https://time.com/7329637/intelligent-age-business/ author: Klaus Schwab article:opinion: true article:content_tier: free article:published_time: 2025-10-30T09:00:00.000Z article:modified_time: 2026-04-06T19:21:30.699Z article:section: Ideas og:title: The End of Business as Usual og:description: Klaus Schwab argues that "we are living through one of the most consequential transitions in the history of business." og:url: https://time.com/7329637/intelligent-age-business/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltad2313915c4429e0/6998cb491500fb7e40aa6bec/Klaus-Schwab-WEF.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 og:image:width: 1024 og:image:height: 576 og:image:alt: SWITZERLAND-DAVOS-POLITICS-ECONOMY og:type: article twitter:card: summary_large_image twitter:title: The End of Business as Usual twitter:description: Klaus Schwab argues that "we are living through one of the most consequential transitions in the history of business." twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltad2313915c4429e0/6998cb491500fb7e40aa6bec/Klaus-Schwab-WEF.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 ---  IDEAS Time ideas # The End of Business as Usual > Sponsored content. 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In the Loop is TIME's AI newsletter, built on original reporting and access to the people building and governing AI. It publishes Tuesdays and Fridays and is free at time.com/newsletters. #### Who writes TIME's In the Loop? Harry Booth, a tech reporter at TIME, writes In the Loop. #### Is In the Loop free? Yes. In the Loop is free at time.com/newsletters. by [Klaus Schwab](https://time.com/author/klaus-schwab/) ## Klaus Schwab Klaus Schwab is the founder of the World Economic Forum and the author of The Competitive Enterprise in the Intelligent Age. Oct 30, 2025 9:00 AM UTC  World Economic Forum founder Klaus Schwab addresses the assembly during the World Economic Forum (WEF) annual meeting in Davos on January 21, 2025. World Economic Forum founder Klaus Schwab addresses the assembly during the World Economic Forum (WEF) annual meeting in Davos on January 21, 2025. Fabrice Coffrini—AFP/Getty Images by [Klaus Schwab](https://time.com/author/klaus-schwab/) ## Klaus Schwab Klaus Schwab is the founder of the World Economic Forum and the author of The Competitive Enterprise in the Intelligent Age. Oct 30, 2025 9:00 AM UTC We are living through one of the most consequential transitions in the history of business. Just as steam power and electricity once transformed entire industries, today intelligent technologies—artificial intelligence (AI), automation, and digital platforms—are reshaping the foundations of commerce, competition, and capitalism itself. This is more than a technological revolution. It is a redefinition of what it means to create value, to lead, and to thrive in an age of constant disruption. For over a century, business operated under assumptions inherited from the industrial age: that growth meant scale, that efficiency trumped adaptability, and that workers were interchangeable units of production. But those assumptions are collapsing under the weight of new realities. In the “[Intelligent Age](https://www.weforum.org/stories/2024/09/the-intelligent-age-a-time-of-cooperation/),” value is no longer tied primarily to physical assets but to ideas, relationships, algorithms, and the ability to learn faster than change itself. A business enterprise is no longer a pipeline; it is a platform. It is not just a machine; it is a living, adaptive ecosystem. And leadership is no longer defined by control but by the capacity to navigate uncertainty with purpose and foresight. The companies that will shape the next decade are not necessarily the biggest, but the boldest. They are not waiting for disruption to come to them. The corporations of tomorrow are using intelligent technologies today to reimagine the very purpose of their business. Whether through personalized health, climate-neutral operations, or AI-enhanced problem-solving, these businesses are turning possibility into purpose. But let us be clear: this transformation is not automatic and it is not benign. Intelligent systems carry the potential to either amplify humanity or diminish it. If businesses pursue only efficiency, they will replace people. If they pursue meaning and innovation, they will elevate people. The choice is ours, and it is one of the defining choices of our time. This is why business leaders must go beyond digital transformation. We must undergo a mental transformation. We must shed the habits of an age obsessed with short-term profit and embrace a model of enterprise that places resilience, inclusivity, and human dignity at its core. Over the past several decades, I have witnessed how economic paradigms evolve. What I see now is not just evolution, it is a civilizational leap. A new kind of capitalism is emerging, one that is informed by intelligence, driven by purpose, and accountable to all stakeholders, including future generations. 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