100 companies account for half the world’s AI investment
AI is supposed to lead to $4.8 trillion (€4.38 trillion) in market value by 2033 but the beneficiaries are still highly concentrated, the report found.
Just 100 companies, mostly based in the United States and China, account for almost half of the world’s research and development spending in AI.
Both countries also produce one-third of peer-reviewed articles and two-thirds of AI patents, which shows that they "dominate knowledge generation," in the field.
The report notes that tech giants like Apple, NVIDIA and Microsoft, all of whom are based in the US, have a market value of $3 trillion (€2.73 trillion), which rivals the economy of the whole African continent.
Amazon and Alphabet, Google’s parent company, are worth at least $2 trillion (€1.82 trillion).
"Market dominance, at both national and corporate levels, may widen technological divides, leaving many developing nations at risk of missing out on its benefits," the report found.
The EU has launched antitrust investigations into many of the abovecompanies but in recent days have, in some cases, consideredrevising digital services taxes on their European operations.
The study also evaluated how competitive countries are with other frontier technologies. It found the US has the edge in digital technologies like AI, the Internet, big data, blockchain, and 3D printing.
China, on the other hand, leads development in 5G cellular networks, drones, and solar photovoltaics (PVs).
Japan and Korea are also competitive in these areas, along with nanotechnologies, and robotics development.
The impact that AI is going to have on the labour force depends on how automation, augmentation, and new positions interact.
The UNCTAD said developing countries need to invest in reliable internet connections, making high-quality data sets available to train AI systems and building education systems that give them necessary digital skills, the report added.
To do this, UNCTAD recommends building a shared global facility that would share AI tools and computing power equitably between nations.
The UN found that 118 countries, mostly from the Global South, are missing from the conversations about how to govern AI.
How to prepare for the 'fifth industrial revolution'
AI uses machine learning to identify patterns and relationships from huge amounts of data, with their performance improving over time.
This means that these systems are not limited to routines and structured tasks like previous automation technologies, the report found.
The result is that AI systems can in theory outperform older systems and possibly human performance, especially in highly skilled jobs. But, when combined with other systems, it can control physical production