How is the World Bank supporting AI development in emerging economies?

The World Bank is actively supporting AI development in emerging economies through several strategic initiatives aimed at leveraging artificial intelligence to boost economic growth and innovation. Key ways the World Bank supports AI include:

Promoting AI as a Growth Driver in Developing Economies

The World Bank recognizes AI as a critical tool to counter weak growth in developing countries by enabling new economic opportunities, improving productivity, and fostering innovation ecosystems. AI is seen as a lifeline to accelerate development despite global economic challenges.

Data, AI, and Emerging Technologies Programs

The World Bank invests in data infrastructure and emerging technologies, including AI, to help countries build the necessary digital foundations. This includes improving data availability, quality, and governance to enable AI applications in sectors like agriculture, health, and finance.

Supporting AI Startups and Innovation Hubs

For example, in Kazakhstan, the World Bank supports scaling high-tech startups that use AI, creating jobs and mobilizing private capital. This approach helps build local AI ecosystems and encourages entrepreneurship in emerging markets.

Regional AI Accelerators

The World Bank facilitates regional AI accelerators, such as the Latin America and Caribbean (LAC) AI Accelerator, which aims to create AI-enabled regions by fostering collaboration, capacity building, and innovation among countries.

Small AI, Big Impact Initiatives

The World Bank promotes projects where small-scale AI applications have significant impacts on local communities, improving service delivery and economic outcomes in targeted sectors.

Overall, the World Bank’s support for AI in emerging economies focuses on building digital infrastructure, fostering innovation ecosystems, supporting startups, and enabling practical AI applications that drive inclusive growth and job creation.