Briefing paper: Artificial Intelligence: Why does it matter? What do policy makers in the TMT sector need to think about?
This briefing paper was produced by the IIC for a workshop on Artificial Intelligence which took place at the Telecommunications & Media Forum during Asia2019.
The Purpose of this Paper:
The sheer potential of the economic impact on global GDP of AI cannot be overestimated. A recent report by PwC says that, based on current projections, global GDP is estimated at approximately $114 trillion by 2030. However, they suggest global GDP could be up to 14% higher than this figure in 2030 as a result of AI (the equivalent of up to $15.7 trillion)1. A recent McKinsey study suggests +16% growth in global GDP in the same time frame2. Whatever the reality, it is clear that AI is important, as discussions held within the IIC’s journal and its events in the last year or so have shown. Key are the policy issues surrounding the use and developments of AI so that AI can be taken full advantage of for all stakeholders, and for economic and social growth.
Set against this is a heightened concern about how AI might be misused to negatively impact individuals, governments and industries. Many of the more recent, publicised concerns are based largely around ethical issues such as data rights and ownership; norms of privacy, transparency and accountability. Other longer-standing concerns are about the additional impact of AI on issues such as national security and human capital.
This briefing seeks to unpack some of the issues and is the first stage in a series of meetings across 2019 to enable policy makers to consider how best they can empower their communities to take advantage of the best of AI, while taking steps to safeguard against potential negatives.
- Monday, 19 February 2018