LONDON, Aug 04 (Alliance News): Artificial intelligence (AI) could help developing countries achieve a century’s worth of progress within a decade if they rapidly address gaps in electricity, internet connectivity and digital skills, according to a new report released by the World Bank on Tuesday.
The report says developing economies have more to gain and less to fear from AI than wealthier nations, as widespread job losses are expected to be significantly lower in low- and middle-income countries.
“AI has thrown developing economies a lifeline, and they should seize it,” said Indermit Gill, the World Bank’s Chief Economist.
Gill noted that emerging economies do not require massive investments or advanced large language models to benefit from AI. Instead, they can adapt affordable AI tools to local needs to improve healthcare, education, judicial services and agricultural extension.
According to the report, AI can enable health workers to diagnose diseases more quickly, assist teachers in improving lesson planning and help farmers make better decisions on crop selection and planting schedules.
The report also cited estimates by the International Monetary Fund (IMF), which suggest AI could increase Sub-Saharan Africa’s economic output by around 4% over the next decade, provided the necessary conditions are in place.
The World Bank found that generative AI is three times more likely to threaten jobs in high-income countries than in developing economies. Around 14.2% of jobs in wealthy countries are considered at risk, compared with 4.5% in low- and middle-income nations.
At the same time, the report estimates that 16.2% of jobs in developing economies and 18.7% in advanced economies could benefit from significant productivity gains through AI adoption.
The World Bank urged governments to strengthen electricity supply, expand internet access, improve digital literacy and increase access to smartphones and computing devices to maximise AI’s potential.
However, it also warned that the rapid adoption of AI could contribute to greater income inequality, the spread of sophisticated misinformation and political repression if not managed responsibly.
Gill cautioned that developing countries could not afford to miss the opportunities created by AI, saying that many had missed the First Industrial Revolution and spent centuries trying to catch up.
