World Bank Advocates AI Adoption for Developing Nations Amid Weak Growth
The World Bank has released a report emphasizing the potential of artificial intelligence (AI) to significantly accelerate development in low-income and developing countries. The report suggests that AI could enable these nations to achieve a century's worth of development within a decade, provided they address power, connectivity, and skills gaps. Indermit Gill, the World Bank Group's chief economist, highlighted the importance of adapting low-cost AI tools to local conditions to improve governance outcomes in sectors such as health, education, justice, and agriculture. The report also notes that while AI poses a threat of job losses in richer nations, developing economies have more to gain and less to fear. The International Monetary Fund (IMF) has previously indicated that AI could boost sub-Saharan Africa's economy by about 4% over the next decade under favorable conditions. 
