Remember when we thought AI would set us free?
I do. It was 2024, and I sat in a conference room listening to a consultant pitch our team on "AI-powered workflow optimisation." The promise was intoxicating: automate the mundane, elevate the meaningful. No more tedious email sorting. No more mind-numbing data entry. No more transcribing hour-long meetings by hand.
The intersection of economy and administrative planning focuses on the transformative role of artificial intelligence (AI) in shaping the future of developing economies in Sub-Saharan Africa and Latin America.
It is a branch of computer science that deals with the development of intelligent machines that can perform tasks that typically require human intelligence. It encompasses various capabilities, including learning, decision-making, understanding natural language, and even playing games, all aimed at replicating human-like intelligence. AI is a broad field that encompasses several subfields, including machine learning, deep learning, and generative AI.
Many experts in the economy believe that by the beginning of the next decade, the shift to AI could become a leading driver of global prosperity. The prospective gains to the world economy derive from rapid advances in AI - currently being distended by generative AI or AI that can create new content, and its potential applications in about every sphere of human and economic endeavors.