THE world is in the throes of the “Fourth Industrial Revolution,” driven by a surge in artificial intelligence (AI) investment expected to top US$500 billion this year, World Economic Forum (WEF) President Borge Brende said on Wednesday.
Speaking at the World Future Councils and Cybersecurity Meetings 2025 in Dubai, Brende projected that AI could boost global productivity by 10 percent over the next decade. He cautioned, however, that the technology would also reshape job markets and intensify global competition.
He also warned that escalating cybersecurity threats were exacting a heavy toll, with global losses from cybercrime amounting to $2-3 trillion annually -- nearly three percent of global gross domestic product. This underscored an urgent need for international cooperation and robust regulatory frameworks to keep pace with technological advances, he stressed.
“Building effective digital governance systems has become a top priority to protect vital sectors and ensure a balance between innovation and cybersecurity,” Brende said.
He added that the WEF was working with partners to formulate comprehensive guidelines to support responsible digital transformation. / XINHUA