APEC Leaders Gather to Explore AI’s Role in Asia-Pacific Growth

News Desk

PORT MORESBY: Leaders from the Asia-Pacific Economic Cooperation (APEC) are convening this week to discuss the potential of artificial intelligence (AI) in driving economic growth across the region.

The summit, taking place on November 15-16, aims to address how AI can enhance productivity and innovation in member economies.

During the opening session, APEC Chair and Papua New Guinea Prime Minister James Marape emphasized the importance of embracing technology to foster sustainable development.

“AI has the potential to revolutionize industries and improve the quality of life for our citizens,” Marape stated, highlighting the need for collaborative efforts to harness this technology effectively.

The discussions come at a critical time as Asia-Pacific economies face challenges such as rising inflation and supply chain disruptions.

Experts suggest that leveraging AI could provide solutions to these issues, enhancing efficiency in sectors like agriculture, manufacturing, and services.

The summit is expected to produce a framework for member countries to implement AI strategies that align with their economic goals.

Looking ahead, APEC leaders plan to establish a working group focused on AI initiatives, with follow-up meetings scheduled for early 2024.

This group will aim to share best practices and develop policies that ensure equitable access to AI technologies across the region.