Strong Economies with Good Governance and Innovative Sectors Are AI Ready

December 15, 2019 0 comments

The global artificial intelligence (AI) market is expected to reach US$ 169.41 billion by 2025. The technology is more likely to add US$ 15 trillion to the global economy by 2030.

The growth of the AI market is owing to the rise in investment in AI technologies, increased demand for analyzing and interpreting a large amount of data, and surge in customer satisfaction coupled with an increase in adoption of the reliable cloud application. It is expected to create lucrative opportunities across various sectors and regions shortly.

According to Oxford Insights, the governments of various countries are to extract advantages from AI technologies in order to gain technological supremacy. But are they ready enough to take over the task?

To find out the answer let us explore the analysis presented by Oxford Insight named “Government AI Readiness Index 2019”. The key highlights from the report are:

•  According to the findings of the Index and as might be expected, the governments of countries in the Global North are better placed to take advantage of technology than those in the Global South.

•  Due to certain risks, the countries in the Global South could be left behind by the so-called fourth industrial revolution. They are also burdened with the danger that unequal implementation widens global inequalities.

•  The upper rankings of the Government AI Readiness Index are dominated by countries with strong economies, good governance, and innovative private sectors.

•  Singapore comes first for AI readiness, with the rest of the top 20 dominated by Western European governments, as well as Canada, Australia, New Zealand, and four further Asian economies.

•  There are no Latin American or African countries in the top 20.

•  China is at a relatively low position (20th), even though central and local governments are already implementing AI in public service delivery. This is possibly due to the missing data points.

•  The best performing region, on average, is North America, while the worst performing regions are Africa and the Asia-Pacific.

The Index highlights the current inequality in AI readiness between global governments, with higher income countries predictably faring better in the rankings than middle and lower-income countries.

Here is the list of top 20 countries are per their ranking, gained in the index.

S.NoConutriesRank
1Singapore1
2United Kingdom2
3Germany3
4United States of America4
5Finland5
6Sweden6
7Canada6
8France8
9Denmark9
10Japan10
11Australia11
12Norway12
13New Zealand13
14Netherlands14
15Italy15
16Austria16
17India17
18Switzerland18
19United Arab Emirates19
20China

However, any action by governments should be undertaken with great caution. If implemented with carelessness, AI in public services could be ineffective, and at worst, very dangerous. The report also suggests that policymakers should act to ensure that the global inequalities are not stretched further by AI. In this age of innovative nuances, governments should ensure that they are ready to capitalize on the potentials of AI.

The age of AI has come, and government should be as prepared as possible to help their citizens take advantage of the benefits of automation while protecting them from its associated risks.

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