Bank’s chief knowledge officer says the tech could speed up economic development from centuries to decades

The World Bank is urging developing countries to kickstart the creation of “small AI” models, which can run on a mobile phone with low connectivity, to reap the full benefits of artificial intelligence.

While Silicon Valley big tech firms are focused on ever more sophisticated consumer products, Paschal Donohoe, the World Bank’s chief knowledge officer, said AI could also accelerate development for emerging economies – but only if it was adapted to local needs.