Insights | August 2024

As we approach the end of summer, leaders from all sectors are gearing up to face the many challenges of inclusive and sustainable development. In just three weeks, the UN's Summit of the Future will test the world's resolve and ability to solve large-scale problems through multilateral cooperation.

This month’s (short) edition of Banking on the Future dives into three critical topics ranging from the potential of generative AI to produce "good jobs" to the environmental impacts of digitalization. These insights aim to provide you with a well-rounded perspective on the key challenges and opportunities shaping our future.

I hope you enjoy this insights digest:

1. Generative AI and Jobs in Latin America and the Caribbean | The World Bank

• Generative AI has the potential to transform millions of jobs in Latin America and the Caribbean.
• Gaps in digital infrastructure and existing inequalities may hinder its full impact.
• Strategies are needed to bridge these gaps and maximize AI’s potential for economic growth and inclusion.

Bottom Line: Generative AI could be a game-changer for jobs in Latin America and the Caribbean, but addressing digital infrastructure gaps is crucial for realizing its full potential.

2. Can we design a future of abundance and sustain it? | Deloitte

• The concept of "sustainable abundance" challenges the traditional trade-offs between economic growth and environmental sustainability.
• Innovation is key to ensuring that economic activities meet current needs without compromising future generations.
• Significant investments are required to reduce environmental impacts while making essential resources accessible and affordable.

Bottom Line: To achieve sustainable abundance, innovative approaches are necessary to balance growth with environmental stewardship, ensuring resources remain accessible for all.

3. Digital Economy Report 2024 | UNCTAD

• The report highlights the growing environmental impact of the digital economy, including rising carbon emissions and resource intensity.
• Calls for policy reforms and technological innovations to mitigate these impacts.
• Emphasizes the need for global cooperation to ensure a sustainable digital economy.

Bottom Line: As the digital economy expands, mitigating its environmental footprint through policy reforms and innovation is essential for sustainable development.