Is artificial intelligence important for the economic development of the country?

AI has become an important driver of technological innovation in intelligent manufacturing, which promotes economic development and improves people's quality of life. The development of AI will affect international trade in several ways. One of them is the macroeconomic impacts of AI and the related business effects. For example, if AI increases productivity growth, this will increase economic growth and provide new opportunities for international trade.

Current global productivity growth rates are low and several causes are suggested. 6.One of the reasons for the low growth in productivity, particularly relevant to understanding the possible link with AI, is that it takes time for an economy to effectively incorporate and use new technologies, particularly the most complex ones with an impact on the entire economy, such as AI. 7 This includes the time to create social capital large enough to have an added effect and the free investments needed to make the most of investments in AI, including access to trained people (people). and business practices, 8.The USMCA addresses this issue with the commitment that national standards are based on international standards, which will support interoperability and reduce barriers to developing AI globally.

The other four are externalities related to the adoption of AI, related to the general economic environment and the transition to AI. Historically, the burden of increasing carbon emissions has mainly fallen on developed countries, but sadly, developing countries suffer most from these emissions. Brazil has already established a 26% smart technology business initiative that includes the use of AI to improve trade negotiations. To give a relatively simple example, the development of voice recognition AI requires access to large amounts of voice data that can capture local jargon and intonation, as well as less commonly used words.

However, with future improvements in areas such as unsupervised learning, these AI development foot soldiers may soon see their training and work experience obsolete. By making tutoring services and educational resources available to all students, wherever they are, artificial intelligence solutions, such as personalized learning assistants, can streamline the learning process. Trade commitments on the free flow of data worldwide, as reflected in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and, more recently, in the Agreement between the United States, Mexico and Canada (USMCA), will support the development of AI. Businesses, non-governmental organizations (NGOs) and governments can use AI to address life-threatening problems and improve the standard of living of local residents in underdeveloped countries.

Here is an overview of some of the key opportunities of AI for commerce, as well as the areas in which business standards can help support the development of AI. One problem that disproportionately affects developing countries is the increasing environmental cost of this type of AI, in addition to the high price. A multi-stakeholder global governance regime led by the UN can help emerging economies address the impact of AI on economic development. Many developed countries may have no choice but to push AI to achieve greater productivity growth, as the momentum of GDP growth slows down in many cases, partly reflecting the challenge posed by an ageing population.

The following outlines some key areas where business standards will be important for the development and deployment of AI globally...

Hilary Raney
Hilary Raney

Unapologetic reader. Professional social media scholar. Professional tv nerd. Hipster-friendly food scholar. Wannabe food fanatic.