The IMF index analyzes the readiness of market economies for Artificial Intelligence
New Delhi:
The International Monetary Fund (IMF) on Tuesday published an Artificial Intelligence Readiness Index (AIPI) dashboard on its website, which tracks 174 economies globally on AI readiness.
The Index has categorized each country into Advanced Economy (EA), Emerging Market Economy (EM) and Low Income Country (LIC). Singapore (0.80), Denmark (0.78) and the United States (0.77) are among the highest rated developed countries, while India is classified as an EM with a score of 0.49. India is ranked 72 out of a total of 174 countries, with Bangladesh (0.38) at 113, Sri Lanka (0.43) at 92 and China (0.63) at 31.
Each country’s rating is awarded based on the assessment of readiness in four key areas: digital infrastructure, human capital and labor market policies, innovation and economic integration, and regulation.
Earlier this year, the IMF published a blog based on its research paper on January 14, stating that AI could endanger 33 percent of jobs in advanced economies, 24 percent in emerging markets and 18 percent in low-income countries. Overall, 40 percent of jobs worldwide will be affected by AI, replacing some and complementing others.
“The positive side is that it also offers enormous potential to improve the productivity of existing jobs for which AI can be a complementary tool and to create new jobs and even new industries,” says economist Giovanni Melina in Tuesday’s article of the IMF.
“In most scenarios, AI will likely worsen overall inequality, a worrying trend that policymakers can work to prevent. To this end, the dashboard is a response to significant interest from our stakeholders in accessing the index. It is a resource for policymakers, researchers, and the public to better assess AI readiness and, more importantly, identify actions and design policies needed to help ensure rapid AI advances. can benefit everyone,” Melina wrote.