AI could double value of digital economy by 2025: Huawei
New Delhi, May 29: Artificial Intelligence (AI) could almost double the value of the global digital economy to $23 trillion by 2025 from $12.9 trillion in 2017, said a Huawei study on Tuesday.
However, a scarcity of AI talent worldwide threatens this growth, showed the study, Global Connectivity Index (GCI) 2018, which is now in its fifth year.
The digital economy accounted for 17.1 per cent of global GDP in 2017, it added.
The research suggests that governments worldwide need to re-think education for a future workplace redefined by AI and start building a healthy, collaborative, and open AI ecosystem to attract and retain competitive AI talent.
"We are now witnessing a paradigm shift initiated by AI," said Kevin Zhang, President of Huawei Corporate Marketing.
"According to the GCI study, advanced economies that saw growth from ICT development plateau are using Intelligent Connectivity to open new opportunities, while some developing economies are also finding ways to tap the new technology to speed up their own strategic growth plans," Zhang added.
The study found that industries are embedding AI in key enabling technologies -- broadband, data centres, Cloud, big data and IoT (Internet of Things) -- to turn connectivity into Intelligent Connectivity, unleashing innovation to propel a new wave of economic growth.
In 2018, the GCI broadened its research scope from 50 to 79 nations. For the first time, every nation in the Index saw GCI scores improve.
From 64 in 2017, India improved its ranking to 63 in the 2018 GCI Index which was topped by the US.
The GCI 2018 also discovered that to effectively deploy AI on a large scale, countries need three equally important components in place -- computing power, labelled data and algorithms.
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West Asia crisis: Jaishankar holds 4th phone call with Iranian counterpart in 2 weeks
New Delhi (PTI): External Affairs Minister S Jaishankar spoke to his Iranian counterpart Seyed Abbas Araghchi – their fourth such conversation since the West Asia crisis erupted – as New Delhi intensifies efforts to secure safe passage for over two dozen Indian-flagged merchant vessels currently stationed on either side of the Strait of Hormuz.
The two foreign ministers held the phone conversation on Thursday night.
Jaishankar and Araghchi spoke on February 28, soon after the US and Israel launched the attack on Iran that killed Ayatollah Ali Khamenei. They also spoke on March 5 and March 10.
"Had another conversation with Iranian FM @araghchi yesterday night. Discussed bilateral matters as also BRICS related issues," the external affairs minister said on social media.
The latest phone conversation came as India ramped up efforts to secure safe passage to the Indian-flagged merchant vessels through the strategic shipping route of Strait of Hormuz that has been partially blocked by Tehran following an escalation in its conflict with the US and Israel.
Global oil and gas prices have surged after Iran virtually blocked the Strait of Hormuz, a narrow shipping lane between the Persian Gulf and the Gulf of Oman that handles roughly 20 per cent of global oil and LNG (Liquefied Natural Gas).
An Iranian readout said Araghchi briefed his Indian counterpart on the latest situation "resulting from the aggressions and crimes" committed by the US and Israel against Iran and its consequences on the stability and security of the region and the world.
It said the Iranian foreign minister emphasised to Jaishankar Tehran's firm will to exercise the "legitimate right to self-defence".
"Araghchi emphasised the need for international and regional forums and organisations to condemn military aggression against Iran," the readout said.
"Referring to the importance of the role and position of BRICS as a forum for developing multilateral cooperation, he considered it essential for this institution to play a constructive role at the current juncture to support stability and security in the region and the world," it added.
It said Araghchi emphasised the importance of finding a way to strengthen stability and a sustainable security environment in the region and called it a "collective need".
At an inter-ministerial media briefing, External Affairs Ministry spokesperson Randhir Jaiswal said India has conveyed to all sides to adopt the path of diplomacy and dialogue to resolve the conflict as soon as possible.
We are also talking to BRICS member states so that a consensus evolves on this issue, he said.
