Artificial intelligence (AI) has the potential to provide developing nations with an advancement equivalent to a century of progress in just ten years, according to a report issued by the World Bank.
The study suggests that these countries are more likely to reap the benefits of the technology than to face its risks, provided they invest in crucial areas such as internet connectivity, energy, and digital skills.
AI can expand access to vital services
According to the World Bank document, AI can assist millions of individuals by facilitating access to fundamental services, covering health, education, agriculture, and public service. The implementation of this technology does not necessarily require large investments or complex AI models; the World Bank's chief economist, Indermit Gill, emphasizes that smaller tools tailored to local realities can already produce significant results.
Gill stated in a note that AI 'has thrown a lifeline to developing economies, and they should take advantage of it.' Among the applications mentioned in the study are the acceleration of medical diagnoses, assistance to teachers in developing lesson plans, advising farmers on ideal planting seasons, and expanding access to judicial and administrative services.
However, governments and corporations face the primary challenge of establishing the necessary infrastructure to support this transformation. Progress depends directly on the availability of stable electricity, a robust internet connection, and greater access to digital equipment.
AI poses lower unemployment risk in emerging economies
Despite job displacement being a major concern associated with artificial intelligence, the report indicates that emerging economies should be less affected than rich countries. The research points out that only 4.5% of jobs in low- and middle-income nations are vulnerable to the risks of generative AI, while this percentage reaches 14.2% in the most advanced economies.
Conversely, the potential for productivity increase is comparable between the two groups: 16.2% of jobs in developing countries and 18.7% in high-income nations may gain substantial benefits from using the technology.
Lack of preparation could accentuate disparities
The World Bank warns that adopting AI without adequate planning can lead to problems, such as worsening social inequality, the proliferation of fake news, and the use of technology for political repression.
For the institution, allowing this change to go unnoticed could result in high costs. Gill drew an analogy with the impact of the Industrial Revolution, warning that countries that let this opportunity slip away spent centuries dealing with the consequences. He emphasized that just as developing economies missed the first Industrial Revolution and paid the price over the subsequent two centuries, they cannot neglect this new phase.
The report concludes by stating that AI can consolidate itself as a partner in economic growth, but its effective impact will depend on how each nation prepares its population and infrastructure to utilize this technology.
