The economic opportunities arising from the introduction of artificial intelligence are enormous, and there are a number of opportunities that developing countries can currently exploit. Access to the Internet, especially to mobile devices, has greatly increased in recent years, and this is one of the key factors that gives the impression that developing worlds riding on the technological advances of the introduction of artificial intelligence are great. Artificial intelligence creates huge opportunities for developing countries in terms of economic growth and job creation.
This is an opportunity for developing countries to capitalise on this progress and use the latest technology and user-friendly solutions to improve people’s quality of life and create new economic opportunities. By discussing and exchanging these ideas, this symposium aims to stimulate the development of a more established, broader field of research and development in the field of artificial intelligence. We are exploring ways in which artificial intelligence can be used to promote socio-economic development and improve the socio-economic well-being of disadvantaged populations, including those in developed countries.
Machine learning, conclusions, planning, and perception had the potential to bring major benefits to developing countries in areas such as health, education, transport, and agriculture.
AI methods promise the ability to improve and expand the novel economic concepts of micro-finance and micro-work, as well as assistance in the fields of education, health, and agriculture.
The global impact of artificial intelligence (AI) will be profound, and to some extent already is, but there is much more development ahead. The McKinsey Global Institute recently analysed data from the US Census Bureau and the World Bank and reported that AI has the potential to add $16-13 trillion to the global economy by 2030. According to a recent report by the International Monetary Fund (IMF), it could also boost global gross domestic product (GDP) by 26%.
McKinsey also reported that by the same year, at least 70% of companies are on track to incorporate AI into their business models. According to the research report, artificial intelligence and machine learning are disrupting industries such as healthcare, education, healthcare, finance, transport, retail, energy, agriculture, manufacturing and transport.
Software development is another area where machine learning and artificial intelligence can improve the process of the traditional software development cycle. Machine learning / AI technologies enable increased efficiency in the provision and control of software development.
Technology companies based in Europe and the USA are able to obtain material and data from developing countries. Developing apps and software integrated with machine learning would make a significant difference and help create a unique name for a software development company.
There is a huge gap in the development of artificial intelligence by Africans. African developers often cannot use closed-source software, and artificial intelligence has become a resource industry that siphons resources from some countries for the benefit of others and is designed for use in developing countries. To understand the potential of artificial intelligence and how it is being developed by Africans, we need to better understand how data from Africa and other parts of the world, such as China, India, Brazil, and South Africa, can be collected, shared, and used.
According to a recent study by the World Economic Forum, 94% of young people in developing countries use the Internet, but only 10% in the least developed countries and less than 1% in the most developed countries.
“With a view to strengthening AI for good movement, the Summit stressed the need to proactively address the selfish and harmful impact of AI on education in developing countries. AI-based educational technologies such as artificial intelligence can improve content, reduce costs, improve educational outcomes and reach more people, “said Dr. Kavita Krishnamurthy, Vice President for Research and Development at the World Economic Forum.
Artificial intelligence (AI) could have a transformative impact on international trade. AI for Good is one of the key UN platforms for harnessing the benefits of AI and a key component of the UN Sustainable Development Goals.
At the same time, there are challenges in developing artificial intelligence that could be addressed by international trade rules, such as improving global access to data to train AI systems. Some barriers to trade are already being dismantled, and the following is an overview of some areas where trade rules can help support the development of artificial intelligence.
Adequate training and knowledge of AI systems will reduce high unemployment in the region and equip the next generation with the skills needed to be productive during the Fourth Industrial Revolution. High-level artificial intelligence education programs, linked to central infrastructure and connected to community hubs, can also provide young Africans with opportunities to lead the way in AI applications produced in Africa. This will allow young people to acquire basic ICT skills, while promoting responsible technology consumption and building African AI industries.