New IDB study says AI can boost Caribbean economies


Artificial intelligence electronic circuit. Microchip with glowing brain. 3D rendered illustration. (Nanalyze image)

(CMC) — A new study by the Inter-American Development Bank (IDB) says artificial intelligence can facilitate trade negotiations and add one additional percentage point of growth to Latin American and the Caribbean economies.

The study – put together by the IDB’s Institute for the Integration of Latin America and the Caribbean (INTAL) – predicts artificial intelligence could boost regional gross domestic product (GDP) in the mid-term to four per cent from current three per cent projections.

Overall, economic growth of countries that embrace artificial intelligence is expected to be 25 per cent higher, on average, than those that do not, the report finds.

Almost half of…

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