The body charged with the responsibility of furthering international monetary cooperation, encouraging the expansion of trade and economic growth and discouraging policies that would harm prosperity, The International Monetary Fund, has checked the status of countries regarding the plans to have the presence of Artificial Intelligence (AI).
The IMF announced that Nigeria coupled with h other developing countries are not digitally prepared for the launch of AI in their countries, as an evaluation has shown that many countries do not have the structure to ensure successful deployment of the technology.
The evaluation by the IMF and the announcement of Nigeria’s unpreparedness for the deployment of AI in the country says a lot considering the fact that Nigeria announced the launch of its AI strategy and its first Multilingual Large Language Model (LLM) in April.
The IMF explained how they ranked countries who were unprepared for the deployment of AI by elaborating on its ‘’AI Preparedness Index’ on how it evaluates economies of 174 countries using their level of technology advancement, labour force, capital, various innovation and policies regulations.
The IMF disclosed in its new ‘’AI Preparedness Index’ on how many Nigeria among other developing countries are far behind in technological developments and this puts them at a level of unpreparedness for the deployment of the Artificial Intelligence.
Highlighting other countries who are also far behind in technological innovations, the IMF put almost all African countries excluding South Africa, Botswana and Namibia, stating that these countries are a bit prepared thereby marking them blue, while the countries who are not prepared are marked yellow.
However, the IMF revealed that the countries who are better prepared for the deployment of the AI have a buoyant economy which puts countries without such economic power at a disadvantage and contributes to their unpreparedness for the deployment of the AI technology.
The IMF is concerned about the disparity among various economies of different nations and believe that this will lead to inequality in the view of deploying the AI technology.
The IMF elaborated on the numerous advantages that the deployment of the AI technology can provide for the economy of a nation including enhancing work performance and providing numerous employment opportunities.
The IMF is however concerned that those who are not technologically inclined would be at a risk of losing their jobs due to the deployment of the AI.
