Davos, Jan 21 : While artificial intelligence (AI) has the power to reshape economies and societies, ensuring that its benefits are shared equitably remains a major challenge globally, the World Economic Forum (WEF) said on Tuesday.

The Forum released a report, titled 'Blueprint for Intelligent Economies' and developed in collaboration with KPMG, at the ongoing Summit here which provides actionable insights and showcases successful case studies to inform efforts by governments, at all AI maturity levels, and other key stakeholders to promote more inclusive and resilient AI ecosystems worldwide.

'Leveraging AI for economic growth and societal progress is a shared goal, yet countries and regions have very different starting points,' said Cathy Li, Head of AI, Data and the Metaverse at the WEF.

'This blueprint serves as a compass, guiding decision-makers towards impact-oriented collaboration and practical solutions that can unlock AI's full potential,' Li added.

The report advocates for AI strategies that are supported by high-level leadership and developed in close collaboration with local communities.

This approach can help address key issues like responsible governance, data privacy, and the local impact of AI policies on innovation and investment.

"The significant potential of AI remains largely untapped in many regions worldwide. Establishing an inclusive and competitive AI ecosystem will become a crucial priority for all nations," said Solly Malatsi, Minister of Communications and Digital Technologies of South Africa. "Collaboration among multiple stakeholders at the national, regional and global levels will be essential in fostering growth and prosperity through AI for everyone."

According to the report, regional frameworks for sharing AI infrastructure and energy resources can help overcome national resource limitations, while centralised databanks can create inclusive local datasets that reflect the needs of diverse communities.

Public-private subsidies can also widen access to affordable AI-ready devices, helping local innovators adopt AI technologies and scale their operations, it added.

The World Economic Forum's AI Governance Alliance also launched the 'Industries in the Intelligent Age report' series, providing a comprehensive roadmap for businesses and governments to adopt and scale AI.

The nine reports explore industry trends, highlight successful applications and identify key enablers, offering actionable insights to drive innovation, boost competitiveness and promote sustainable growth.

The Forum also introduced Frontier MINDS (Meaningful, Intelligent, Novel, Deployable Solutions), a new platform to scale replicable, high-impact AI use cases from across the world.

'AI holds transformative potential to address society's most pressing challenges, but unlocking this requires informed, adaptable and responsible policy-making,' said Cathy Li, Head of AI, Data and the Metaverse, WEF.

/IANS