AI seen as key for developing nations

The primary benefit of AI adoption cited by 54% of respondents in an IFC survey was productivity improvement. Additionally, AI is viewed as a means to address skill shortages, which over 40% of non-adopters identified as a key barrier. The emphasis on localization suggests that tailoring AI technologies to specific local challenges, customer needs, and markets is considered essential for successful implementation.

Despite the articulated potential, the IFC survey indicates that only 17% of firms have integrated AI into their core business operations. More than half of these deployments are limited to specific business functions, pointing to a cautious, phased approach rather than rapid, comprehensive transformation. Regulatory ambiguity, particularly regarding software as a medical device, is also noted as a significant impediment to AI adoption in emerging markets.

Practical applications highlighted include CARPL, a radiology and imaging AI platform, which facilitates tuberculosis screening using portable X-ray machines in India and aims to streamline medical device approvals. Kredete, a financial technology company, employs AI agents customized to local contexts to mitigate high costs and delays in cross-border payments for small and medium-sized enterprises. Quadric, a semiconductor IP licensing firm, suggests embedding AI directly into devices like laptops to enhance productive usage and accelerate the development of personalized software.