Insights | February 2024

In this issue, we explore ground-breaking efforts to tackle poverty with a multidimensional approach, highlight the potential of #AI to drive positive global change and support the #SDGs, and delve into the transformative role of higher education in harnessing data science for social impact.

Each story showcases innovative strategies and collaborative initiatives aimed at creating more inclusive, sustainable, and equitable futures for all.

I also want to make sure you don’t miss the World Bank's inaugural Global Digital Summit, where government officials, private sector representatives, partner organizations, and thought leaders converge to explore the opportunities and challenges surrounding the shared mission of?accelerating digital for development.

?Hope you enjoy this month's insights digest:

1. Tackling Poverty's Invisible Scars | World Bank

• Understanding and addressing poverty requires a holistic approach that transcends traditional metrics of income and employment. Recent efforts, such as the World Bank's "Voices of the Poor" project, have broadened the understanding of poverty to include hidden dimensions like emotional distress, discrimination, and social isolation.
• This expanded view acknowledges that poverty's impact is far-reaching, affecting not just economic status but also personal well-being and societal engagement.
• The introduction of the Inclusive and Deliberative Elaboration and Evaluation of Policies (IDEEP) tool represents a significant advancement in policy-making aimed at tackling poverty in all its forms.
• This approach is crucial for achieving the Sustainable Development Goals by 2030, particularly the eradication of extreme poverty. It underscores the need for policies that are informed by the lived experiences of people in poverty, advocating for a shift towards inclusive and sustainable development strategies that address both visible and hidden dimensions of poverty.?

Bottom-line: Addressing poverty effectively requires a comprehensive, inclusive approach that accounts for both its visible and hidden dimensions, ensuring policies are informed by the lived experiences of those most affected.

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2. Fulfilling the promise of AI without leaving humanity behind | ITU

• In a rapidly evolving digital era, artificial intelligence stands at the forefront of discussions about the future, sparking both excitement and concern among global audiences.
• AI's capacity to contribute up to USD 4.4 trillion to the global economy and mitigate global greenhouse gas emissions, improving agricultural yields or supporting smallholder farming, underscores its role as a pivotal tool in achieving the SDGs.
• The digital divide remains a critical concern, with billions of people at risk of being left behind in the AI revolution. The UN and ITU's efforts to develop technical standards, foster equitable access, and convene global expertise are crucial steps toward ensuring that AI benefits humanity.

Bottom-line: AI presents a dual-edged sword, offering remarkable opportunities for global development and environmental sustainability, yet requiring careful governance to ensure equitable benefits and mitigate inherent risks.

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3. How to train one-million impact data scientists | data.org

• Through the Capacity Accelerator Network (CAN), facilitated by data.org, eight universities including UIC, University of Chicago, and Morehouse College, among others, are at the forefront of a movement aimed at nurturing a new generation of data practitioners.
• These institutions have embarked on a mission to educate one million purpose-driven data practitioners by 2032, leveraging data science to address societal challenges.
• The release of the "Data Science for Social Impact in Higher Education Playbook" by the US branch of CAN highlights the collaborative effort of these institutions to share best practices and lessons learned in implementing data science programs focused on social impact.
• By focusing on inclusivity and diversity, these initiatives are not only expanding educational opportunities but are also redefining the career trajectories of students in the field of data science, steering them towards roles that have a meaningful impact on society.

Bottom-line: Through innovative partnerships and a focused curriculum, higher education institutions are leading a transformative movement in data science education, aimed at harnessing the power of data for social good and preparing a diverse new generation of purpose-driven data practitioners.

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4. Understanding the World Bank’s 'Better Bank' agenda | Devex

• ?Under the stewardship of Ajay Banga, the World Bank is undergoing significant reforms aimed at realigning its focus and operational model to better address contemporary global challenges such as climate change, pandemics, and conflict.
• The plan, which introduces a new vision for the bank to create "a world free of poverty on a livable planet," emphasizes the importance of addressing global public goods and sets an ambitious target for climate-related financing.
• Operational reforms, including streamlining processes and reducing bureaucracy, are underway to make the bank more efficient and responsive to the needs of borrower countries.

Bottom-line: The World Bank's ambitious reforms aim to modernize its approach to global development, prioritizing climate action and global public goods, while navigating the complexities of operational efficiency and capital mobilization.