Unlocking Trillions: How AI’s $4.4 Trillion Boost Can Transform Our World—If We Bridge the Digital Divide

At the World Economic Forum in Davos, it was highlighted that while Artificial Intelligence (AI) could boost the global economy by $2.6 trillion to $4.4 trillion annually, attention must be given to the disruptions it may cause in various sectors. Robert F. Smith, CEO of Vista Equity Partners, emphasized the importance of addressing existing digital divides, which remain a global issue. Despite widespread internet availability, over 2.5 billion people still lack access, hindering their ability to utilize essential online services like banking, education, and healthcare.

In developed countries such as the US, nearly 24 million individuals lack high-speed internet access, limiting their economic participation and access to vital services. Smith advocates that AI should drive prosperity for everyone, provided appropriate measures are taken to avoid reinforcing existing biases.

AI’s progress is expected to unfold in three significant waves. The first benefits hardware vendors, the second will favor tech giants like Microsoft and Google, and the third will benefit enterprise software vendors integrating AI into their offerings. These verticals require focused efforts to ensure balanced development and deployment of AI.

Smith notes the advantage of foresight in managing the AI revolution and stresses the need for global internet access, AI education, and tools. As AI and generative AI (GenAI) evolve, he urges decisive action to maximize their potential and foster equitable access worldwide. The call is to think broadly and act promptly to democratize these transformative technologies.

Original Source: https://theshillongtimes.com/2025/01/21/ai-can-add-4-4-trillion-to-global-economy-but-digital-divide-must-be-removed-wef-report/
Category : INTERNATIONAL,NATIONAL,News Alert
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Publish Date: 2025-01-21 15:12:00