The global artificial intelligence market is projected to reach $4.8 trillion by 2033, according to a report by the United Nations Conference on Trade and Development (UNCTAD). This growth will be driven by the increasing adoption of AI technologies across various industries, including healthcare, finance, and transportation.
However, the report also warns that AI could impact 40% of jobs worldwide, particularly in knowledge-intensive sectors. This could lead to significant job displacement and exacerbate existing inequalities. Advanced economies are expected to be hardest hit, but they are also better positioned to harness the benefits of AI.
To mitigate the negative impacts of AI, UNCTAD emphasizes the need for stronger international cooperation to develop a global AI framework. This framework should prioritize people-centered development, ensuring that AI benefits all countries and communities.
Some key statistics from the report include the AI market size, expected to reach $4.8 trillion by 2033, roughly the size of Germany’s economy. Job impact, AI could impact 40% of jobs worldwide, particularly in knowledge-intensive sectors.
In the same vein, in global governance, 118 countries, mostly in the Global South, are absent from major AI governance discussions. Frontier technologies, The market size of frontier technologies, including AI, blockchain, and 5G, is expected to increase sixfold to $16.4 trillion by 2033.
Overall, the report highlights the need for careful planning and international cooperation to ensure that AI benefits all countries and communities while minimizing its negative impacts.
“AI is shaping the world’s economic future, yet 118 countries—mostly in the Global South—are absent from major AI governance discussions,”
“As AI regulation and ethical frameworks take shape, developing nations must have a seat at the table to ensure AI serves global progress, not just the interests of a few,” it said.
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