Artificial Intelligence as a Catalyst for Socioeconomic Development: Challenges and Prospects

Abstract

The chapter explores the challenges and prospects in the role of artificial intelligence in development. Using a qualitative method of analysis, it examines evidence from crucial literature on artificial intelligence from diverse scholars and experts in the field. The research began with a conceptual review of AI and then made a foray into the ethical and epistemological basis of AI. It further highlighted the qualities of AI and the threat that AI poses to the digital divide between North and South. It also examines the importance of Ai to development, the latest advancements in AI, the importance of AI in the bid by Third World countries to catch up with development, and qualities and regulatory frameworks for harnessing and consolidating AI. Finally, it makes recommendations on the best approach to using AI to influence socioeconomic development.