QNB: AI Risks and Opportunities
Qatar National Bank has affirmed that artificial intelligence offers promising opportunities for emerging markets to improve productivity and development. However, it also presents significant risks that require building digital infrastructure, developing data systems, and investing in skills. The bank noted that economies that accelerate the strengthening of these foundations will be able to reduce the growth gap with developed countries, whereas the gap will widen if no action is taken. The global AI market size is expected to reach $4.8 trillion by 2033, with AI anticipated to expand its capabilities in enhancing education, healthcare, and financial services. At the same time, it may cause disruptions in the labor market, particularly in industries and services that rely on repetitive tasks. It is estimated that about 40% of jobs in emerging markets could be affected by AI, with some sectors in India's IT industry experiencing a decline.
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