Accra:The World Bank is encouraging developing countries to create small artificial intelligence (AI) models to boost economic growth.

According to Azeri-Press news agency, Paschal Donohoe, the bank's Chief Knowledge Officer, noted that AI systems capable of operating on mobile phones without needing strong internet connections could significantly aid development. He emphasized that these technologies should be tailored to local languages and community needs, such as providing farmers in India with AI-driven insights into soil conditions.

Donohoe also stated that with the adoption of such technologies, economic advancements that once took centuries could potentially be achieved in just a few decades.

In contrast, Kristalina Georgieva, Managing Director of the International Monetary Fund, cautioned about AI's impact on the labor market. She mentioned that around 40% of global jobs might be affected, with AI potentially eliminating certain roles and altering how others are performed. Georgieva also pointed out the risks facing young people entering the workforce and underscored the necessity for electricity, internet infrastructure, and security measures to facilitate AI's broader adoption.