| Photo by APEC
SEATTLE, WA – At the Committee on Trade and Investment of the Asia-Pacific Economic Cooperation (APEC) conference, member economies are exploring ways to harness the potential benefits of artificial intelligence (AI) while confronting its risks to the future of the economy and the workforce.
A panel of AI entrepreneurs across APEC speakers highlighted the critical role of AI governance framework in different economies and workforce upskilling. They emphasized that closing the gaps in digital skills through incentives, literacy training, and certification programs is crucial for ensuring the readiness of the region’s workforce.
“Artificial intelligence is a topic that is very rapidly evolving as everybody in this room knows; lots of different opportunities, lots of different potential downsides,” said Stephanie Bell, a senior research scientist with Partnership on AI, addressing participants at a digital trade policy dialogue held in Seattle last week.
“In terms of the ways that artificial intelligence poised to potentially affect our world, it’s poised to substantially affect productivity as well as labor demand,” Bell added in her keynote remarks.
She explained that the responsible use of AI could release tremendous productivity within the global economy, improve key essential sectors such as healthcare, environmental sustainability, and education, and enrich people’s lives and well-being in general.
However, Bell cautioned that without proper policies and governance, AI could negatively impact economies that have, for example, invested heavily in industries or in occupations that are on the verge of automation.
However, Bell cautioned that without proper policies and governance, AI could negatively impact economies that have, for example, invested heavily in industries or in occupations that are on the verge of automation.
Bell urged governments, regulators, and businesses to ensure that the transition to AI, whether used as augmentation or automation, is not abrupt and, in some cases, devastating for a workforce.
“Listen carefully to the expertise of the workers themselves,” Bell added. “They are best positioned to understand where these technologies can be well integrated into their workplaces, where you might be able to get extra value out of AI, and where they would welcome them, as opposed to resist them.”
Speaking at the panel, Dr. Nidhal Bouaynaya, founder of MRIMath, a startup that uses AI to improve the detection of brain tumors, highlighted the crucial role of governments in creating an environment that supports upskilling and lifelong learning for the workforce to reap the benefits and future gains of emerging technology.
“The goal of this dialogue is to generate ideas for new workstreams in APEC, including those that could eventually lead to consensus-based norms and principles,” said Blake Van Velden, Chair of the APEC Committee on Trade and Investment.
Participants recommended APEC economies proactively coordinate with their domestic agencies, from trade ministries to economic development agencies, businesses, and companies that nurture AI to labor departments.
The dialogue also underscored APEC’s role in driving stronger international cooperation and supporting more excellent economic analysis to monitor digital trade impact in economies better.
–With Jay Domingo/PDM
