The World Bank has highlighted artificial intelligence as a potential economic opportunity for developing nations. Indermit Gill, the World Bank's chief economist, stated that AI has provided a lifeline for these economies and advised that they should seize it.
Gill noted that developing economies missed the first Industrial Revolution and spent the following two centuries paying the price, adding that they cannot afford to miss the current technological shift.
Developing countries should be optimistic about what AI will bring.
Gaurav Nayyar, the Director for the World Bank Group 2026 World Development Report, proposed a three-stage framework for developing countries: adopt, adapt, and advance.
Despite the potential benefits, the World Bank report warns of specific risks associated with the technology. The report states that AI could lead to greater income inequality, stealthier misinformation, and political repression.
