Investing in AI Key for Closing Regional Inequality Gap
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AI-based technologies are transforming regional economies, leading to efficiency, innovation, and growth in regions like Silicon Valley and Shenzhen. However, the benefits are currently concentrated in these tech hubs.
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Regions need to attract creative professionals who possess creative capital to drive economic growth. These individuals create new ideas, technologies, and industries.
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Even small initial investments in AI technology and skills development can cause large long-term differences in economic output between regions.
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Lagging regions need to increase investment in AI and skills training to catch up to leading tech regions.
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Without broad investments to build and improve AI capabilities, the skewed distribution of high-skilled AI workers is likely to continue, increasing regional inequality.