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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

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