World Bank warns developing countries to embrace AI or be left behind

The World Bank has warned developing countries that they risk being left behind if they do not embrace artificial intelligence (AI) technology. According to the World Bank, AI can accelerate the progress of developing nations by a significant amount, with some estimates suggesting it could be equivalent to a century of growth within a decade.

Emerging economies are said to have more to gain and less to fear from the AI revolution compared to wealthier countries, as they face fewer job threats from AI. However, governments in these countries must address issues such as power, connectivity, and skills in order to seize the opportunities presented by AI.

The World Bank's report draws comparisons between the emergence of AI and other game-changing historical advancements, such as steam power and the internet. The bank's co-author, Gaurav Nayyar, has urged developing countries to be optimistic, strategic, and pragmatic in their approach to AI, and to put policies in place that can help them benefit from the technology.

Brief written by urgent.news from Punch Nigeria, Economic Times Tech, The National UAE — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.