India Ranks 72nd in IMF's Global AI Preparedness Index

Tags: INDEX

The International Monetary Fund (IMF) introduced the Artificial Intelligence Preparedness Index (AIPI) Dashboard on June 25, 2024.

An Overview of the News

• The index ranks 174 Countries worldwide based on their preparedness for adopting artificial intelligence (AI).

• India ranks 72nd with a score of 0.49, categorized as an Emerging Market (EM).

• Bangladesh ranks 113th (0.38), Sri Lanka 92nd (0.43), and China 31st (0.63).

• Rating Criteria: Ratings are based on digital infrastructure, human capital, labor policies, innovation, integration, and regulation.

Top Countries in the AI Preparedness Index

• Singapore ranks 1st with an index of 0.800.

• Denmark follows closely in 2nd place with an index of 0.778.

• The United States secures the 3rd position with an index of 0.771.

• Netherlands stands 4th with an index of 0.766.

• Estonia, Finland and Switzerland are ranked 5th with an index of 0.754.

• New Zealand and Germany are ranked 6th with an index of 0.753.

• Sweden is ranked 7th with an index of 0.747

Impact and Job Displacement

• Job Displacement: AI is projected to potentially disrupt 33% of jobs in advanced economies, 24% in emerging economies, and 18% in low-income countries.

• Economic Reshaping: Economist Giovanni Melina highlights AI's potential to enhance job productivity and create new industries globally.

International Monetary Fund (IMF):

• Establishment: 1944 (Formally came into existence in December 1945)

• Members: 190 (India joined the IMF on December 27, 1945)

• Headquarters: Washington DC

Important Points 

• India Ranked 63rd in the Global Energy Transition Index 2024 

• India Ranked 3rd in the Global Unicorn Index 2024

• India Ranked 159th in the World Press Freedom Index 2024

• India Ranked 129th in the Global Gender Gap Index 2024

• India Ranked 39th in WEF's Travel and Tourism Development Index 2024

• India Ranked 126th in the World Happiness Report 2024