The World Bank has stated that artificial intelligence could enable developing countries to achieve the equivalent of a century of development within a single decade, provided they accelerate improvements in electricity supply, expand internet access, and strengthen digital skills.
In a recent report, the World Bank said emerging economies have greater opportunities than risks when it comes to adopting AI. It also noted that, unlike in high-income countries, artificial intelligence is unlikely to result in widespread job losses across developing economies.
The report highlighted that developing countries do not need to build large language models or make massive financial investments to benefit from AI. Instead, they can deploy affordable, locally tailored applications to enhance healthcare, education, judicial services, and agricultural extension programmes.
According to the report, 14.2 per cent of jobs in high-income countries are exposed to the effects of generative AI, compared with just 4.5 per cent in low- and middle-income countries. However, the expected productivity gains are projected to be broadly similar across both groups.
The World Bank urged governments to invest in digital infrastructure, reliable electricity networks and digital skills to maximise the benefits of artificial intelligence. At the same time, it cautioned against widening income inequality, the spread of misinformation, and the misuse of AI technologies.
The report concluded that failing to seize the opportunities presented by artificial intelligence would carry a significant development cost for developing countries, potentially slowing economic progress and limiting long-term growth.
