The global market for artificial intelligence is set to grow to $4.8 trillion (€4.3 trillion) by 2033 but countries need to take action to avoid the technology reinforcing existing divides and inequalities, a new report has said.
The UN Trade and Development’s (UNCTAD) technology and innovation report recommended investment in digital infrastructure and a strengthening of governance on AI to ensure sustainable innovation.
An estimated 40 per cent of jobs globally are expected to be impacted by AI, with some experiencing productivity gains as it enhances employment. The report noted that previous technology advances primarily hit blue collar industries. In contrast, AI poses more risk to knowledge-intensive industries, with finance, advertising, consulting and information technology particularly exposed.
However, it could also impact low-cost labour in developing countries, with concerns about automation and job displacement, and a tussle between capital and labour that could erode the competitive advantage of lower cost economies.
The report said that while AI could help transform economies, developing nations are most at risk of missing out on the benefits of AI, with access to AI infrastructure and expertise concentrated in a few economies.
Some 40 per cent of global corporate research and development spending is accounted for by 100 companies, mainly in the US and China.
The report highlighted that 118 countries, mostly located in the Global South, are not involved in major AI governance discussions. Developing nations must give their input in shaping AI regulation and ethical frameworks to ensure AI “serves global progress, not just the interests of a few”.
That sustainable development requires action including developing proactive labour policies to mitigate the impact of the technology on jobs, and investing in reskilling and upskilling of the workforce.
UNCTAD secretary general Rebeca Grynspan said it was important that people were put at the centre of AI development and that stronger international co-operation was needed to help countries create a global artificial intelligence framework that prioritises equity, transparency and shared benefits.
“History has shown that while technological progress drives economic growth, it does not on its own ensure equitable income distribution or promote inclusive human development,” she said in the report.
“Stronger international co-operation can shift the focus from technology to people, enabling countries to co-create a global artificial intelligence framework. Such a framework should prioritise shared prosperity, create public goods and place humanity at the heart of artificial intelligence development.”
Among the recommendations are gaining commitments from industry through a public disclosure mechanism; shared infrastructure to ensure equal access to AI; sharing knowledge and resources to build capacity in developing countries; and the use of open data and open source to help fuel inclusive innovation in AI.
Separately, Digital Business Ireland (DBI) has called for the Government to make AI policy a priority, urging it to announce an Oireachtas committee on artificial intelligence, along with setting up a National AI Office and the convening of a National Enterprise AI Forum.
“A new Oireachtas committee on AI would provide a high-profile platform for debate on the future regulation, development and adoption of AI in Ireland. It would ensure all voices are heard, facilitating broader debate on the opportunities AI offers to Ireland,” said DBI chairperson Caroline Dunlea.
“At a time of great economic uncertainty for Ireland, AI offers the tools to enhance the innovativeness and competitiveness of Irish business, particularly in the SME sector. Rather than a narrow focus on the threat to jobs, Ireland should be at the forefront of leveraging AI to support our workers to achieve more and to drive productivity and growth.”
