Sign In
Learn bits
Science & Tech.
Mahesh

29/06/24 05:57 AM IST

IMF Maps 174 Countries' Artificial Intelligence Readiness

In News
  • The International Monetary Fund (IMF) released an Artificial Intelligence Preparedness Index (AIPI) Dashboard, tracking 174 economies globally for AI readiness. 
Major findings
  • The Index has categorised each country into Advanced Economy (AE), Emerging Market Economy (EM), and Low-Income Country (LIC).
  • Singapore (0.80), Denmark (0.78), and the United States (0.77) are among the highest-rated AEs, with India categorised as an EM with a 0.49 rating.
  • India ranks 72 in a total of 174 countries, with Bangladesh (0.38) on 113, Sri Lanka (0.43) on 92, and China (0.63) on 31.
  • Four main areas are used to judge a country’s AI readiness: its digital infrastructure, its human capital and labor market policies, its creativity and economic integration, and its rules and regulations.
  • The IMF can correctly figure out how each country can use AI technologies to its advantage by looking at them as a whole.
Implications of Employment
  • The IMF pointed out the big effect AI could have on jobs around the world. It said that AI could threaten about 33% of jobs in Advanced Economies, 24% of jobs in Emerging Markets, and 18% of jobs in Low-Income Countries.
  • In total, it said that AI could threaten about 40% of jobs around the world.
  • However, it was also emphasized that AI can boost productivity and help new industries and jobs grow.
  • AI has the potential to make economic inequality worse, but it also has the potential to make people more productive, create jobs, and start new industries.
  • In reaction to these problems and chances, the AIPI Dashboard is meant to give policymakers, researchers, and the public the information they need to make smart decisions about how to make sure that everyone can enjoy the benefits of AI progress.
Source- India Today

More Related Current Affairs View All

20 Sep

Cabinet clears setting up of National Centre of Excellence in Mumbai for Animation, Visual Effects, Gaming, Comics and Extended Reality

'The Government has recently said that the Animation, Visual Effects, Gaming and Comic (AVGC) sector has the potential to provide employment to over 20 lakh people in the coming 10

Read More

20 Sep

Mini-moon

'According to a new study, the Earth’s gravitational field will temporarily capture a small asteroid, called 2024 PT5, in late September.' The asteroid will stay for two m

Read More

19 Sep

Cabinet clears development of Next Generation of satellite Launch Vehicle

'The Union Cabinet, led by Prime Minister Narendra Modi, has approved the development of the Next Generation Launch Vehicle (NGLV).' The NGLV is set to significantly enhance Ind

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps