“Global growth to slow in 2024” - UN report warns of economic challenges and risks of “AI”
Progress in global development slowed in 2024, raising concerns that achievements in recent years may be eroding, according to a new UN report.
The annual Human Development Index report linked to the United Nations Development Programme said that despite the first recovery after the COVID-19 pandemic by 2023, life expectancy and income growth are stalling and conflicts are increasing.
The head of the Program warned that this "worrying" slowdown could cause "decades of human development to slip, making our world less secure, more divided and more vulnerable to economic and ecological shocks."
Recent cuts to international aid from some countries, especially the United States under President Donald Trump, will exacerbate the consequences.
The report heralded the era of artificial intelligence (AI) saying it offers hope for revitalizing development, but warned that its benefits must be shared fairly to avoid deepening divisions.
He noted that access to technology is limited in poorer countries compared to richer ones.
"High-income countries such as the United States, the Republic of Korea, Japan and Germany have well-established digital infrastructures, giving them a major advantage in technology development," the data shows, noting that the largest global investment in this sector was made in the US in 2024, accounting for 70.2%.
According to the organization, "if we fail to address the injustices and divisions that persist today, artificial intelligence will only further reinforce them."
In the Human Development Index rankings, Iceland and Norway topped the list, while Germany and Sweden tied for fifth place.
The US ranked 17th, just below Canada. India and Bangladesh tied for 130th, with Pakistan in 168th place.
Of all regions, South Asia and Sub-Saharan Africa reflected the least development, according to the report, which assesses progress in three key areas: health and longevity, knowledge, and standard of living.
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