Washington:The World Bank Group has launched its inaugural digital strategy aimed at assisting developing countries in expanding affordable digital access, improving services, and fostering job creation. This strategic initiative leverages the organization's public and private sector capabilities to address key digital priorities.
According to Wam, the strategy focuses on four main areas expanding connectivity, making devices and data more affordable, enhancing digital services and skills, and helping countries lay the foundations for benefiting from artificial intelligence. World Bank Group President Ajay Banga emphasized the comprehensive approach needed to harness digital technology for job creation and resource optimization.
The strategy's launch comes at a critical time as developing nations face resource constraints and an increasing demand for jobs. Over the next decade and a half, approximately 1.2 billion young individuals will enter the workforce in these regions, while only about 420 million jobs are projected to be created. Digital technology is seen as a vital tool for job creation across key sectors including infrastructure, agribusiness, healthcare, tourism, and manufacturing.
Despite the potential benefits, significant barriers remain, with more than 2 billion people offline globally in 2025. Internet usage in low-income countries stands at a mere 23%, compared to 94% in high-income nations. Affordability of smartphones and data, alongside a lack of digital skills and access to relevant services, are cited as major challenges.
The World Bank Group's new AI Infrastructure and Readiness Initiative complements the digital strategy's focus on AI adaptation. This effort aims to help emerging markets access affordable computing power for AI applications through a shared, pay-as-you-go GPU infrastructure, initially targeting Africa and Latin America.