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The stranglehold on AI held by wealthy nations is ending

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Barely a day goes by without hearing about yet another mind-blowing artificial intelligence advance. The beauty of AI is that we all have access to it, more so than with any other technological discovery from past epochs. Though still very much ahead, rich countries no longer hold the monopoly over this new invention and AI developments are happening all across the globe, owing more to a nation’s capacity to innovate than to its overall wealth.

Eastern Europe is experimental for this issue, and despite the region remaining Europe’s most impoverished, research and development in AI seem to have picked up speed in various sectors. If harnessed wisely, AI could provide a boost towards growth for a region battling decades of communist-era shortages and post-communist economic inequality and deprivation. The region countries are automating their service by using AI. According to research by Goldman Sachs, AI could bring a near $7 trillion (€6.47tn) increase in annual global GDP over a ten-year period. The potential for economic growth is limitless and eastern Europe can tap into that. As a result of studies in the area, AI may prove to be the “great equaliser.”

Source: Microsoft Start