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The rapid advancement of computing power and digital infrastructure has driven artificial intelligence (AI) forward at a dramatic pace. We produce so much information that humans can't use it for forecasting and predictive modeling without help. AI has a critical role to play in managing this explosion of data.
Why does this matter? Because we need accurate forecasting to give us valuable insights for meeting development needs, for example, in addressing climate change, augmenting productivity, creating innovative services, accelerating growth, creating jobs, and more.
The current pandemic propelled the adoption and use of AI in organizations to a new level. According to McKinsey, the AI adoption rate in emerging economies reached 57 percent last year, up from 45 percent in 2020, with the highest adoption rates in India and Asia Pacific. While creating numerous opportunities, AI also poses risks associated with data security, privacy safety, and data bias. How can countries harness this technology and mitigate these risks? - blog.wb.org/blogs
A version of this article appears in the print on February 4, 2022, of The Himalayan Times.
