World Bank urges developing countries to adopt low-cost AI tools
The annual World Development Report from the World Bank has been published, highlighting the necessity for developing nations to adopt artificial intelligence as a crucial opportunity to avoid falling behind. Indermit Gill, the chief economist of the World Bank Group, pointed out that these nations can leverage affordable AI tools tailored to their specific needs in sectors like health, education, justice, and agriculture, rather than relying on large models or extensive data centers. The report indicates that while sophisticated AI models from the U.S. and China can efficiently process data and automate functions, they demand substantial computing resources and energy, raising concerns about climate impact. With developing economies facing their slowest growth in thirty years, AI could serve as a vital economic driver.
Key facts
- World Bank released its annual World Development Report.
- Indermit Gill is chief economist of the World Bank Group.
- Gill stated AI has thrown developing economies a lifeline.
- Developing countries should adapt lower-cost AI tools to local conditions.
- AI can deliver results in health, education, justice, and agriculture.
- Advanced AI models are largely developed in the US and China.
- AI models require huge data centres and large amounts of computing power.
- Developing economies are in their weakest growth performance in three decades.
Entities
Institutions
- World Bank
- World Bank Group
Locations
- United States
- China