AI Boom Could Widen Economic Divide Between Nations

A study by Ayre Think Tank warns that artificial intelligence (AI) may exacerbate economic disparities between wealthy and poorer nations. Unveiled at the Commonwealth Heads of Government Meeting, the study highlights a potential $360 billion gap in economic gains among member countries.

Out of 56 Commonwealth nations, only 15 meet the youth AI readiness criterion. These countries could collectively boost their economies by $389.2 billion over the next decade, while the remaining 41 might only gain $29.2 billion.

The report identifies Singapore as leading in AI readiness, with Malawi and Lesotho trailing. In Africa, only Mauritius, South Africa, and Nigeria meet the benchmark. Despite high young people's interest, countries like Nigeria lack digital capabilities.

Calvin Ayre stresses that AI will transform industries and wealth creation, urging governments to enhance skills and opportunities for youth. The report concludes that infrastructure investment alone won't ensure success; skills development and connectivity are crucial.