World Economic Forum launches “Global artificial intelligence alliance”

What is the News?
The World Economic Forum (WEF) has launched the Global AI Action Alliance (GAIA).

About the alliance:

1. GAIA: It is a multi-stakeholder collaboration platform. It has been designed to accelerate the adoption of inclusive, transparent, and trusted artificial intelligence tools globally and in industry sectors.
2. Members: The alliance is consisting of over 100 leading companies, governments, international organizations, non-profits, and academics. They all are committed to maximizing AI’s societal benefits while minimizing its risks.
3. Committee: A steering committee will guide the alliance. It is consisting of top global leaders from industry, government, academia, and civil society.
4. Significance: The alliance will provide a platform for members to;
   • engage in real-time learning,
   • frame new approaches to ethical AI,
   • increase adoption of best practices and
   • undertake collective action to ensure that AI’s benefits are shared by all.

Additional Facts:

• Artificial Intelligence(AI): It is a constellation of technologies that enable machines to act with higher levels of intelligence. It emulates the human capabilities of sense, comprehend and act, in the machines.
• Importance of AI: Artificial Intelligence(AI) could contribute more than $15 trillion to the world economy by 2030, adding 14% to global GDP. This would make AI the biggest economic opportunity of the next decade. It represents more value than today’s insurance, oil, and gas, commercial real estate, and automotive industries combined.

Source: Hindustan Times