The global AI market is expected to reach $4.8 trillion by 2033 – about the size of the German economy – warning that nearly half of the world’s work may be affected, the UN said on Thursday.
While AI is changing economies and creating huge opportunities, the technology has the potential to deepen existing inequalities, the United Nations Trade and Development Agency warns in a report.
In particular, the report warns: “AI could impact 40% of global jobs, thereby providing productivity gains, while also raising concerns about automation and work displacement”.
Although previous technology waves have mainly affected blue-collar work, the European Bureau stressed that knowledge-intensive sectors will be revealed the most by AI.
It said that this means developed economies will certainly be hit the hardest, adding that these economies are better at leveraging the benefits of AI than developing economies.
“The benefits of AI-driven automation are often beneficial to capital rather than labor, which may expand inequality and reduce the competitive advantage of low-cost labor in developing economies,” Unctad said.
In a statement, Rebeca Grynspan, head of the agency, stressed the importance of ensuring people are at the center of AI development, urging stronger international cooperation to “shift the focus from technology to people, enabling countries to jointly create a global AI framework.”
“History shows that while technological advances drive economic growth, it does not ensure equitable income distribution or promote inclusive human development on its own,” she warned in the report.
– $4.8 trillion –
The report says that in 2023, so-called border technologies such as the Internet, blockchain, 5G, 3D printing and AI represent a $250 million market, and the figures are expected to increase sixfold to $16.4 trillion over the next decade.
It shows that by 2033, AI will become the leading technology in the field, with an expected value of $4.8 trillion.
But Unctad warns that access to AI infrastructure and expertise remains concentrated in several economies, with only 100 companies (mainly in the United States and China), and currently accounts for 40% of global corporate R&D spending.
“Nationals should now take action and insist that “by investing in digital infrastructure, building capabilities and strengthening AI governance”, they can “harness the sustainable potential of AI”.
“AI is more than just a replacement for jobs,” it says, “the technology can “create new industries and empower workers.”
“Investing in retraining, improving skills and workforce adaptation is critical to ensuring AI enhances job opportunities rather than eliminating them.”
The United Nations agency stressed that all countries need to participate in discussions on how to manage AI.
“Artificial intelligence is shaping the world’s economic future, but there are no major AI governance discussions in 118 countries, mainly in the global south,” it said.
“With AI regulations and ethical frameworks forming, developing countries must have a seat on the table to ensure AI is progressing globally, not just the interests of a few.”
apo/nl/yad
