Global Equitable Distribution of AI Benefits: A Significant Challenge, Says WEF
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Synopsis
The World Economic Forum highlights the major global challenge of sharing AI's benefits equitably. A report titled 'Blueprint for Intelligent Economies' emphasizes the need for inclusive AI ecosystems, collaboration, and responsible governance to unlock AI's transformative potential for economic growth.
Key Takeaways
- AI's transformative potential is underutilized globally.
- Collaboration among stakeholders is crucial for equitable AI distribution.
- Strategies must focus on local community involvement and leadership.
- Inclusive datasets and resources can address national limitations.
- Public-private partnerships can enhance access to AI technologies.
Davos, Jan 21 (NationPress) While artificial intelligence (AI) possesses the ability to transform economies and societies, the challenge of ensuring equitable distribution of its benefits remains significant on a global scale, according to the World Economic Forum (WEF) on Tuesday.
The Forum unveiled a report titled 'Blueprint for Intelligent Economies', developed in partnership with KPMG, during the ongoing Summit, which offers actionable insights and highlights successful case studies aimed at assisting governments at all AI maturity levels and other key stakeholders in fostering more inclusive and resilient AI ecosystems worldwide.
“Utilizing AI for economic development and societal advancement is a common objective, yet countries and regions start from various points,” commented Cathy Li, Head of AI, Data, and the Metaverse at the WEF.
“This blueprint acts as a guide, steering decision-makers towards collaborative efforts focused on impact and practical solutions that can unleash AI’s full capabilities,” Li continued.
The report promotes AI strategies that are underpinned by high-level leadership and developed in close cooperation with local communities.
This methodology can tackle critical issues such as responsible governance, data privacy, and the local effects of AI policies on innovation and investment.
“The vast potential of AI remains largely unutilized in numerous regions globally. Creating an inclusive and competitive AI ecosystem will be an essential priority for all nations,” stated Solly Malatsi, Minister of Communications and Digital Technologies of South Africa. “Collaboration among various stakeholders at the national, regional, and global levels will be crucial in nurturing growth and prosperity through AI for all.”
The report mentions that regional frameworks for sharing AI infrastructure and energy resources can help overcome national resource limitations, while centralized databanks can generate inclusive local datasets that cater to the needs of diverse communities.
Furthermore, public-private subsidies can broaden access to affordable AI-ready devices, enabling local innovators to adopt AI technologies and expand their operations, it noted.
The WEF's AI Governance Alliance also launched the 'Industries in the Intelligent Age' report series, providing a comprehensive roadmap for businesses and governments to integrate and scale AI.
The nine reports delve into industry trends, highlight successful applications, and identify key enablers, offering actionable insights to foster innovation, enhance competitiveness, and promote sustainable growth.
Additionally, the Forum introduced Frontier MINDS (Meaningful, Intelligent, Novel, Deployable Solutions), a new platform to scale replicable, high-impact AI use cases from around the globe.
“AI possesses transformative potential to tackle society’s most urgent challenges, but realizing this requires informed, adaptable, and responsible policy-making,” remarked Cathy Li, Head of AI, Data, and the Metaverse, WEF.
