Julio Pessan’s Post

Why Policymakers Must Act Now to Navigate the AI Revolution (and How the IMF's AI Preparedness Index Can Help) 🧭🤖 Attention, policymakers and economic leaders! 📣 The AI revolution is unfolding at breakneck speed, and businesses around the world are racing to integrate this game-changing technology. ⏱️ To safely leverage the vast potential of AI for the benefit of humanity, we need a carefully balanced set of policies. Enter the IMF's AI Preparedness Index! 🌐 This innovative tool measures countries' readiness across four key areas: 1. Digital infrastructure 🌐 2. Human capital and labor-market policies 👥 3. Innovation and economic integration 💡 4. Regulation and ethics ⚖️ The index provides a roadmap for countries to navigate the AI transition by assessing factors like: - Years of schooling - Job-market mobility - Social safety net coverage - Adaptability of legal frameworks The findings? Wealthier economies tend to be better equipped for AI adoption, but there's significant variation across countries. 🥇 Priorities for policymakers: - Advanced economies: Foster AI innovation while developing robust regulatory frameworks. 🤝 - Emerging and developing economies: Invest in digital infrastructure and a digitally competent workforce. 🏗️ The AI era is here, and the time to act is now. By leveraging the insights from the AI Preparedness Index, policymakers can chart a course toward an inclusive, prosperous AI-driven future. 🌅 How is your country or organization preparing for the AI revolution? What policies do you think are most critical for harnessing the benefits of AI while mitigating the risks? Let's discuss in the comments! 💬 #AIReadiness #PolicyInnovation #InclusiveGrowth #GlobalCooperation #SustainableDevelopment

🌐 How Ready is the World for AI? 🌐 Artificial Intelligence is poised to transform our global economy in ways we've never seen before—impacting everything from labor markets and digital infrastructure to complex supply chains. The International Monetary Fund (IMF) highlights that nearly 40% of global jobs are exposed to AI-driven automation, with some sectors seeing higher risks than others. The impact on the workforce and on countries' economies could be profound. This map visualizes the Top 10 Countries Most Prepared for AI based on the IMF's AI Preparedness Index. The index ranks 174 countries, using data from eight prominent institutions, including the World Bank, International Labour Organization, and World Economic Forum. The index is built on four essential pillars: 1️⃣ Digital Infrastructure   2️⃣ Human Capital   3️⃣ Technological Innovation   4️⃣ Legal Frameworks  Each of these categories has specific sub-indicators, including investments in human capital, STEM expertise, R&D strength, and adaptable legal frameworks. 🔍 As the future of AI unfolds, which countries are leading the charge? And what does it mean for those further down the list? #AI #IMF #IMU #DigitalTransformation #GlobalEconomy #Innovation #STEM Photo Courtesy - Voronoi 

🌍 Navigating the Global AI Divide: Insights from the AI Preparedness Index Dashboard 🌍 As the world stands on the edge of an AI-driven revolution, this dashboard tracking the AI readiness of 174 economies reveals a sobering truth: not all countries are equally prepared to harness AI’s transformative potential. Advanced economies with robust digital infrastructure and skilled labor forces have a head start, poised to reap the rewards of AI adoption—from boosting productivity to creating new industries. But for many emerging markets and low-income countries, the road ahead is filled with hurdles. 🔍 The data underscores a widening gap in AI preparedness, where advanced economies are ready to accelerate, while others face a tougher climb due to gaps in infrastructure, human capital, and policy frameworks. This divide could deepen global inequalities if unaddressed. 🌱 However, there's immense promise here. Policymakers have a unique window to act: For advanced economies: Prioritize upskilling, support workers with a safety net, and establish strong regulations to foster trust and innovation. For developing economies: Invest in the foundations—digital infrastructure, worker training, and innovation incentives—to create the groundwork for AI integration. 🌐 #AIReadiness #Innovation #DigitalTransformation #InclusiveGrowth https://lnkd.in/g8YtaiTz

The 2024 Financial Institutions Sentiment Survey revealed that the number of firms investing in AI has doubled since last year. Almost two-thirds (63%) of respondents are investing in the emerging technology, up from one-third (32%) in 2023. But this is just the beginning. The investment and innovation in AI will continue to grow and expand. Read the full story in this year's report > https://lnkd.in/etgaVF-U Rohit Dhawan PhD, Aveni

I'm happy to share the 2024 Global Action Forum Report: “The Global Majority AI Agenda: The Path to Shared Prosperity Is Anchored in Equity and Sustainability”! This report captures the insights, discussions, and recommendations from a dynamic gathering of experts, policymakers, and leaders dedicated to shaping the future of AI. The report reveals key insights and recommendations to enhance our collective security and prosperity. The report includes nuanced recommendations on what to include in the establishment of an AI Investment Infrastructure to support global AI innovation. I was honored to participate in the convening that led to this report. It was wonderful to be in a room with people from around the world and where voices from the Global Majority were given equal weight. One comment made during the discussion that stuck with me is, "We want to use AI tools in our country -- but we need them to be safe." Many other points from the convening spurred additional thoughts and conversations (and planning) for me. The report makes three high-level recommendations for France’s Special Envoy for Artificial Intelligence overseeing the Action Summit. (1) hosting a Global Majority track at the French AI Action Summit; (2) establishing an AI Investment Infrastructure (AIII) mechanism; and (3) introducing new governance mechanisms to complement the Action Summit’s existing efforts. Link to full report here: https://lnkd.in/dvAYHJxn CC: Camille Stewart Gloster, Esq, CAS Strategies, LLC #AI #GlobalMajority #Equity #Sustainability #PublicInterestTech #ResponsibleAI

The use of Artificial Intelligence (AI) within Financial Services was a key theme in this year's Financial Institutions Sentiment Survey. Over the past year, most of the organisations surveyed have transitioned from experimenting with AI, to actively investing in it. Find out more about how financial institutions are leveraging the technology below ⬇️ #ArtificialIntelligence #AI #FinancialServices

The use of Artificial Intelligence (AI) within Financial Services was a key theme in this year's Financial Institutions Sentiment Survey. Over the past year, most of the organisations surveyed have transitioned from experimenting with AI, to actively investing in it. Find out more about how financial institutions are leveraging the technology below ⬇️ #ArtificialIntelligence #AI #FinancialServices

Guided by the insights from the AI Preparedness Index, advanced economies should prioritize AI innovation and integration while developing robust regulatory frameworks. This approach will cultivate a safe and responsible AI environment, helping maintain public trust. For emerging market and developing economies, the priority should be laying a strong foundation through investments in digital infrastructure and a digitally competent workforce. The AI era is upon us, and it is still within our power to ensure it brings prosperity for all. —For more on artificial intelligence and the economy, see the December issue of Finance & Development, the IMF’s quarterly magazine. #snsinstitutions #snsdesignthinkers #designthinking

The 2024 Financial Institutions Sentiment Survey revealed that the number of firms investing in AI has doubled since last year. Almost two-thirds (63%) of respondents are investing in the emerging technology, up from one-third (32%) in 2023. But this is just the beginning. The investment and innovation in AI will continue to grow and expand. Read the full story in this year's report > http://spr.ly/6042UNDPO Rohit Dhawan PhD, Aveni

🤔 𝐇𝐨𝐰 𝐖𝐢𝐥𝐥 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐯𝐞 𝐀𝐈 𝐑𝐞𝐬𝐡𝐚𝐩𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜𝐬 𝐚𝐧𝐝 𝐖𝐞𝐚𝐥𝐭𝐡 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧? A recent study by the International Monetary Fund (IMF) delves into the profound impact generative AI could have on global economies. Here are some critical insights from their analysis: 🌍 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐃𝐢𝐬𝐩𝐚𝐫𝐢𝐭𝐲 𝐂𝐨𝐧𝐜𝐞𝐫𝐧𝐬: The study warns that generative AI could exacerbate wealth inequality, with economic benefits likely to accrue disproportionately to already dominant firms in technology sectors. This could lead to even more concentrated markets, where a few big players hold significant control. 📈 𝐑𝐨𝐥𝐞 𝐨𝐟 𝐅𝐢𝐬𝐜𝐚𝐥 𝐏𝐨𝐥𝐢𝐜𝐢𝐞𝐬: The IMF emphasizes the importance of adaptive fiscal policies to mitigate the potential negative impacts of AI on wealth distribution. These policies could be crucial in ensuring the gains from AI technologies are more evenly distributed among populations. 🤝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐲𝐧𝐜𝐡𝐫𝐨𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐍𝐞𝐞𝐝𝐞𝐝: As AI technologies advance, there is a pressing need for synchronized global efforts to manage their deployment. Without coordinated action, disparities between countries could widen, potentially leading to destabilizing economic conditions. 🔍 𝐈𝐧𝐬𝐢𝐠𝐡𝐭 𝐟𝐫𝐨𝐦 𝐄𝐱𝐩𝐞𝐫𝐭𝐬: Notable AI experts, like Kai-Fu Lee, have long discussed these issues, predicting that without intervention, AI could deepen global inequalities. Their insights from years ago resonate even more today as AI technologies become more pervasive. 🔄 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: The study suggests that revisiting corporate tax systems and considering incentives for investments in automation could be ways to balance growth with equity. Moreover, taxing carbon emissions from AI servers could account for environmental costs. This groundbreaking analysis calls for a proactive approach to managing AI’s economic impact, advocating for policies that not only foster innovation but also guard against widening economic divides. 🔗 How prepared do you think our global economic systems are for the integration of AI? What measures should we be taking now to ensure equitable benefits from AI advancements? #AI #Economics #WealthInequality #FiscalPolicy #TechnologyImpact