ARTIFICIAL INTELLIGENCE

Artificial intelligence is moving from the realm of science fiction to real-world adoption among private and public sector organizations globally. Today AI is used by financial services companies to serve customers better and detect fraud; by healthcare providers to more accurately diagnose illness and identify more effective treatments; by manufacturers to keep machines up and running on the plant floor and to streamline supply chains; and by city authorities to track and mitigate urban challenges such as traffic, pollution and crime.

As AI becomes increasingly embedded in society, it will not only change the businesses that adopt it but also have significant economic, social and civic effects on citizens and consumers. In short, national and regional economies will become more intelligent in the ways they produce and distribute goods and services. However, such transformations will also introduce new challenges. Indeed, policymakers, economists and technology stakeholders are observing these changes, often with commitments to protecting the rights of workers whose jobs may be replaced by automation.

Moreover, the adoption of AI is happening at a different pace from nation to nation and from region to region. Access and implementation of AI in different markets, in both advanced and emerging economies, will be determined by those countries’ access to resources, capacity for innovation and the readiness of business and citizens to embrace the technology.

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