Artificial Intelligence (AI) has the potential to significantly impact humanity, both positively and negatively. Borge Brende, President of the World Economic Forum, believes AI can increase productivity by 30% in the coming decade, but it must be used in the interest of humankind.
Brende compares AI to the advent of electricity and the internet, stating that it represents another industrial revolution. He points out that in Switzerland, automation has led to a shift from 90% of the population working in agriculture to only 3%, yet the country is producing more food than ever before. This same trend is expected with AI, where productivity gains can lead to increased prosperity.
However, Brende recognizes that AI also has potential risks. He emphasizes the need for regulation to prevent AI from controlling humans and becoming a dangerous force. He expresses concern about unregulated AI, especially in areas such as autonomous weapons and robots, where human control is essential.
India’s evolving economy has been boosted by increased openness to foreign direct investment, leading to a more level playing field and diversification of value chains. Brende highlights India’s strength in services and the digital economy, attributing this to a digitally literate population. He notes the significance of India’s digital identification system in facilitating broader digital initiatives.
The potential benefits of AI are undeniable, but it is crucial to address ethical concerns and ensure that AI is used responsibly. By doing so, humanity can harness the power of AI to drive progress and improve lives while mitigating potential risks.
