SEOUL, South Korea / RankWire.AI / – On October 20, during the Global AI and Digital Summit held in Seoul and co-hosted by South Korea’s finance and science ministries, the World Bank Group revealed its inaugural digital strategy. This initiative aims to address the ongoing challenge of more than 2 billion individuals worldwide remaining offline. Its objectives include expanding affordable digital access in developing nations, enhancing public service delivery, and fostering employment opportunities. The plan leverages both the group’s public and private sector arms.
The strategy is built around four core priorities. The organization will work to increase connectivity through the expansion of cables, national links, and local networks designed for businesses and clinics. Efforts will also focus on reducing the costs associated with devices and data via collaborations with manufacturers, mobile operators, and lenders. A third focus area involves strengthening digital services and skills, such as digital identification and payments. The final element aims to prepare countries for artificial intelligence by improving computing resources, local data accessibility, and relevant skill development.
Ajay Banga, the World Bank Group President, emphasized that digital technology has the potential to generate employment and help nations optimize limited resources. He stated that success hinges on dependable connectivity, affordable devices, digital literacy, and the availability of pertinent services working in harmony. The digital strategy integrates these components, Banga noted. He also spotlighted small AI, which he referred to as AI for the people, with examples including tools that assist farmers in identifying crop diseases or support health workers in their tasks.
Youth Population Growth Surpasses Job Creation
Developing economies are confronting dual challenges of scarce resources and increasing labor demand. An estimated 1.2 billion young individuals in these countries are expected to reach working age within the next 10 to 15 years. Forecasts suggest that these economies will generate approximately 420 million new jobs during this period. The bank advocates that digital tools can help bridge part of this employment gap by enabling businesses to attract customers, boost productivity, and access financing more efficiently.
According to the bank, digital technology can bolster employment prospects across its five key sectors: infrastructure and energy, agribusiness, healthcare, tourism, and manufacturing with added value. It can also reduce the costs associated with public service delivery. The strategy builds upon the bank’s earlier digitalization push and increased support for developing economies. It combines financing solutions, policy advice, private sector investments, and guarantees within a unified framework, laying a foundation for collaborations with governments, tech firms, and philanthropic organizations.
Digital Divide Persists Despite GPU Initiative Launch
Significant disparities in internet access continue between high-income and low-income nations. By 2025, only 23% of individuals in low-income countries will be online, compared to 94% in wealthier nations. Many people already live in areas with network coverage but are unable to afford smartphones or data plans. Others lack the skills necessary to navigate online environments, or find few services catering to their needs. Privacy, cybersecurity, and fraud safeguards are integral to all four priorities of the strategy.
In conjunction with the digital strategy, the World Bank announced the AI Infrastructure and Readiness Initiative. This program aims to provide governments in emerging markets with affordable access to computing power via shared, pay-as-you-go GPU infrastructure. GPUs, specialized processors for AI applications, offer a practical alternative to establishing national data centers independently. NVIDIA and Cassava Technologies are named as knowledge partners, with the initial focus on Africa and Latin America.