AI in Emerging Markets

Abstract

In this chapter, the authors explore the effects of artificial intelligence (AI) disruption in emerging markets (EM) – countries that are harnessing technology much faster and more enthusiastically than many of their developed-market compatriots. Dubbed the Fourth Industrial Revolution (4IR), AI technologies are disrupting at speeds that have no historical precedent. With the potential economic benefits of AI already clear, governments in many EM countries—including China, South Korea, Russia, Hungary, Poland, the UAE, and Saudi Arabia—are pursuing policies that will help leapfrog developed markets. However, there are risks including concerns that a potential global recession may slow the rapid growth that the likes of China and other EM countries have enjoyed thus far. Additionally, there are key challenges relating to social, ethical, and legal frameworks as well as a need for security policies.