The digital divide in AI is creating a gap between those who embrace it and those who don’t. Rich economies are reaping the benefits while developing nations struggle to implement AI solutions. The potential for AI to boost productivity is undeniable, with McKinsey estimating a significant contribution to the global economy. However, ethical considerations are crucial in harnessing AI’s power responsibly.
Learning from successful tech ecosystems like Taipei and Shenzhen shows the importance of adapting global knowledge to local needs. The future lies in copying, learning, adapting, innovating, and scaling AI applications. Organizations worldwide are investing heavily in AI, with startups leading the charge.
AI for Impact initiatives, such as those promoted by the World Economic Forum, highlight the importance of collaboration for social and ecological innovation. Embracing AI tools is vital for productivity gains and navigating disruptive changes. It’s clear that successful AI integration requires a holistic approach and a willingness to embrace change with leadership and courage.
Andrew Sheng, a former central banker, offers insights on global issues through an Asian perspective.