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A World Bank economist is calling for the removal of barriers to artificial intelligence adoption in South Asia to unlock business growth and create much-needed jobs for the region’s burgeoning workforce.
Key Points
- The World Bank urges countries to remove obstacles to AI adoption to enable businesses to use AI productively and create more jobs.
- India is well-positioned to leverage AI due to its robust digital public infrastructure, especially the UPI system.
- South Asia faces the challenge of creating more and better jobs for its growing young population.
- Smaller, more accessible AI solutions can broaden adoption across a wider range of firms, not just large corporations.
- Improving the overall business environment is crucial for firms to effectively utilise AI and drive economic growth.
Countries should work towards removing obstacles in the adoption of artificial intelligence so that businesses can make productive use of AI and create more jobs, World Bank South Asia Chief Economist Franziska Ohnsorge said on Thursday.
Ohnsorge also said that Indian authorities and governments around many emerging markets are doubling down on AI adoption. India is well placed to leverage AI due to its strong digital public infrastructure, particularly the UPI.
The South Asia region, she said, has challenges in the form of creating more and better jobs. In the next 10-15 years, about 280 million young people in South Asia are estimated to come of working age.
“As more and more people and firms, and people adopt AI, they will find productive uses, and that will grow their businesses. And that’s where the job creation will happen. So, that’s the policy priority to help a productive use. Roll this out quickly for productive use of it, and remove the obstacles that stop firms from adopting it and growing quickly,” she said at a World Bank press conference here.
Broadening AI Adoption
Ohnsorge also highlighted the role of smaller and more accessible AI solutions, saying that these can help broaden adoption across a larger group of firms rather than being concentrated among a few large players.
“That’s why our policy recommendations are broad-based improvement in the business environment. Remove obstacles because now this (AI) is a fantastic technology shock. Firms can make use of it. It’s an opportunity, but it can only be serious if the environment is right,” she said.
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