IMF unveils Artificial Intelligence Preparedness Index for 174 nations

(MENAFN) The International Monetary Fund (IMF) unveiled its AI Preparedness Index (AIPI) on Tuesday, providing a comprehensive assessment of 174 countries' readiness for artificial intelligence (AI). According to the IMF, the AIPI Dashboard evaluates economies based on key factors such as digital infrastructure, human capital, labor policies, innovation, integration, and regulation.

While acknowledging AI's potential to enhance productivity, stimulate economic growth, and increase incomes, the IMF also highlighted its potential to disrupt labor markets, potentially displacing millions of jobs and exacerbating inequality globally.

In its January research, the IMF indicated that AI could jeopardize up to 33 percent of jobs in advanced economies, 24 percent in emerging economies, and 18 percent in low-income countries. However, the technology also presents opportunities to improve productivity across existing jobs and foster the creation of new industries and employment opportunities.

The IMF emphasized that wealthier economies generally exhibit greater readiness and capacity to adopt AI compared to low-income countries. This disparity is attributed to advanced economies having larger shares of high-skilled jobs and more robust digital infrastructures and skilled workforces essential for harnessing AI's benefits.

Conversely, many emerging markets and low-income countries face challenges in accessing and leveraging AI due to inadequate infrastructure and workforce skills. This situation risks widening the global inequality gap between nations.

The AIPI serves as a tool for policymakers and stakeholders to gauge their countries' preparedness for AI adoption and to identify areas requiring attention to maximize the technology's benefits while mitigating its potential negative impacts on jobs and inequality.

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