bizmediaa – bizmediaa

தகுதியற்ற உள்ளடக்கத்திலிருந்து உயர்ந்த பாதுகாபை வழஙகும் Kaspersky Safe...

Kaspersky Safe Kids...

வாகன நிதித்துறையில் புரட்சியை ஏற்படுத்த UNIMO உடன் மூலோபாய...

இலங்கையின் முன்னணி தனியார்...

உங்களது வங்கி விருப்பத்திற்கேற்ப ‘HNB Self-onboarding’ஐ அறிமுகப்படுத்தும் HNB

நாட்டில் வாடிக்கையாளர் வசதியை...

Kaspersky Safe Kids proves superior protection level...

Kaspersky Safe Kids...

Dipped Products Accelerates Global Expansion with Launch...

Dipped Products PLC...

HNB Finance இன் “ஊக்குவிக்கும் அபிவிருத்தி நிதி கல்வியறிவு...

இலங்கையின் முன்னணி நிதி...

புகைப்பட தலைப்பு | உலக சுற்றுச்சூழல் தினத்தை உலக...

உலக சுற்றுச்சூழல் தினமான...

HNB රථ වාහන ෆිනෑන්ස් සේවාවේ සුවිසල් වෙනසක්...

ශ්‍රී ලංකාවේ ප්‍රමුඛතම...

Kaspersky: දේශීය සයිබර් තර්ජනයන් ශ්‍රී ලාංකේය ව්‍යාපාර...

ගෝලීය සයිබර්...

සැම්සුන්, 2024 පැරිස් ඔලිම්පික් හා පැරාලිම්පික් තරඟාවලියේ උණුසුම ක්‍රීඩා ලෝලීන් හා පාරිභෝගිකයින් සමඟ බෙදා හදා ගනියි

සැම්සුන්, 2024 පැරිස් ඔලිම්පික් හා පැරාලිම්පික් තරඟාවලියේ උණුසුම ක්‍රීඩා ලෝලීන්...

PRASL Masterclass highlights future of Reputation Management

PRASL Masterclass highlights future of...

TikTok 2024 වසරේ පළමු කාර්තුව සඳහා සිය ප්‍රජා මාර්ගෝපදේශ මාලාව බලාත්මක කිරීමේ වාර්තාව නිකුත් කරයි

TikTok 2024 වසරේ පළමු කාර්තුව...

දාවුදි බෝරා ප්‍රජාවගේ ‘අෂාරා මුබාරකා’ ආධ්‍යාත්මික සමුළුවේ ආගමික දේශනවල විකාශන කටයුතු සඳහා කලාපීය මධ්‍යස්ථානයක් ලෙස කොළඹ තෝරා ගනී

දාවුදි බෝරා ප්‍රජාවගේ ‘අෂාරා මුබාරකා’...

Digital Innovation: Coca-Cola Beverages Sri Lanka Launches ‘Coke Buddy’ to Boost Retail Efficiency

Digital Innovation: Coca-Cola Beverages Sri...

Pioneering Turtle Conservation Research at Rekawa Centre Unveiled by Sampath Bank

Pioneering Turtle Conservation Research at...

Pioneering Turtle Conservation Research at Rekawa Centre Unveiled by Sampath Bank

Pioneering Turtle Conservation Research at Rekawa Centre Unveiled...

கழிவு நிர்வகிப்பு சவால்களை சமாளிக்க யாழ்ப்பாணம் மற்றும் பதுளையில் புதிய பொருள் மீட்பு வசதிகள் நிறுவப்பட்டுள்ளன

கழிவு நிர்வகிப்பு சவால்களை சமாளிக்க யாழ்ப்பாணம் மற்றும் பதுளையில் புதிய...

JAAF Commends PUCSL reduction in electricity tariffs & calls for continued energy policy reforms to boost export competitiveness.

JAAF Commends PUCSL reduction in electricity tariffs &...

99x Introduces OptimaxerAI Web, a Revolutionary AI Library for Web Products

99x Introduces OptimaxerAI Web, a Revolutionary AI Library...

JAAF urges PUCSL to rationalize industrial electricity tariffs, power generation and renewables policies

JAAF urges PUCSL to rationalize industrial electricity tariffs,...

Dipped Products Accelerates Global Expansion with Launch of Marketing Office in India

Dipped Products Accelerates Global Expansion with Launch of...

HNB, ශ්‍රී ලංකාවේ පැවති ආසියානු බැංකුකරුවන්ගේ සංගමයේ සම්මන්ත්‍රණය සාර්ථකව අවසන් කරයි

HNB, ශ්‍රී ලංකාවේ පැවති ආසියානු බැංකුකරුවන්ගේ සංගමයේ සම්මන්ත්‍රණය...

Kaspersky எச்சரிக்கை: இலங்கையில் உள்ள வணிக நிறுவனங்களுக்கு உள்ளூர் அச்சுறுத்தல்கள்

Kaspersky எச்சரிக்கை: இலங்கையில் உள்ள வணிக நிறுவனங்களுக்கு உள்ளூர் அச்சுறுத்தல்கள்

Haycarb, අගය එකතු කිරීමේ නිෂ්පාදන වෙනුවෙන් 2023 Asia Integrated Reporting සම්මාන උළෙලේදී රන් සම්මානයෙන් පිදුම් ලබයි

Haycarb, අගය එකතු කිරීමේ නිෂ්පාදන වෙනුවෙන් 2023 Asia...

HNB to back Soul Sounds’ global ambitions at World Choir Games 2024

HNB to back Soul Sounds’ global ambitions at...

TikTok நிறுவனத்தின் 2024 முதல் காலாண்டுக்கான சமூக வழிகாட்டல் அமலாக்கல் அறிக்கை வெளியீடு

TikTok நிறுவனத்தின் 2024 முதல் காலாண்டுக்கான சமூக வழிகாட்டல் அமலாக்கல்...

By Thareendra Kalpage In the rapidly evolving landscape of global economics, a new and potent force is reshaping the contours of national policies and international relations: AI nationalism. This phenomenon is characterised by nations prioritising the development, control, and application of artificial intelligence technologies to secure economic advantages and national security. As AI becomes increasingly integral to economic growth, productivity, and strategic dominance, countries are intensifying their efforts to lead in this critical domain. But what exactly is AI nationalism, and what are its implications for the global economy? The rise of AI nationalism AI nationalism can be understood as a strategic focus by governments to foster and control AI technologies within their borders. This trend is driven by several factors: 1. Economic competitiveness: Nations recognise that AI can significantly boost productivity, innovation, and economic growth. Countries leading to AI development will likely dominate future industries and reap substantial financial benefits. 2. National security: AI has profound implications for national security, from cybersecurity to military applications. Ensuring that AI technologies are developed and controlled domestically is vital for maintaining national sovereignty and defence capabilities. 3. Technological sovereignty: Dependence on foreign AI technologies poses risks, including potential espionage, loss of sensitive data, and economic dependency. Countries aim to reduce these risks by developing their own AI capabilities. Strategies and measures Governments are implementing various strategies to promote AI nationalism: 1. Investment in R&D: Substantial public funding is directed towards AI research and development. Countries like the United States, China, and the European Union are investing billions to advance their AI capabilities. 2. Education and talent development: Nations prioritise AI experts’ education and training. Scholarships, specialised programs, and university collaborations are being established to build a robust talent pool. 3. Regulatory frameworks: Governments are crafting policies to support AI innovation while ensuring ethical standards. This includes data protection laws, AI ethics guidelines, and regulations to foster innovation. 4. Public-private partnerships: Collaboration between government and industry is crucial. Governments incentivise private sector innovation through grants, tax breaks, and joint ventures. Deciding between AI makers and AI takers One of the critical decisions that countries must make in this new era of AI nationalism is whether to be an AI maker or an AI taker: 1. AI makers: These countries focus on developing AI technologies, investing heavily in R&D, building a solid talent pool, and fostering innovation ecosystems. Being an AI maker involves significant investment but offers substantial long-term benefits, including technological sovereignty, economic growth, and global influence. 2. AI takers: These countries rely on importing AI technologies developed elsewhere. While this approach requires less upfront investment and allows for quicker adoption of cutting-edge technologies, it can lead to dependency on foreign entities, potential security risks, and missed economic opportunities. Each nation must carefully evaluate its resources, capabilities, and strategic goals to determine its approach. For smaller countries or those with limited resources, collaborating with leading AI nations or focusing on niche areas within AI might be a viable strategy. Implications for the global economy AI nationalism has far-reaching implications: 1. Geopolitical tensions: Competition for AI supremacy can exacerbate geopolitical rivalries. The US-China tech rivalry is a prime example, with nations striving to outpace each other in AI advancements. 2. Economic disparities: Countries with advanced AI capabilities will likely experience accelerated economic growth, widening the gap between AI leaders and laggards. This could lead to increased economic inequalities on a global scale. 3. Innovation ecosystems: AI nationalism can stimulate domestic innovation ecosystems. However, it may also lead to protectionism, reducing international collaboration and knowledge sharing. 4. Labour market transformations: AI-driven automation will transform labour markets. Nations must adapt their workforce policies to manage the transition and ensure workers have the skills needed for an AI-driven economy. 5. Ethical and social considerations: The rush to lead in AI can sometimes overlook ethical considerations. Nations must balance technological advancements with ethical standards to ensure AI is developed responsibly. Economic impact on South East Asia Southeast Asia stands at a crucial juncture in the discourse on AI nationalism. The region’s diverse economies offer opportunities and challenges in adopting AI strategies. Countries like Singapore are already at the forefront, with robust AI policies and significant investments in AI research and development. Other countries in the region are also making strides, albeit at a varied pace. 1. Singapore: As a regional leader, Singapore’s investment in AI is part of its broader Smart Nation initiative. The city-state focuses on creating an innovation-friendly environment, attracting global talent, and fostering partnerships between government, academia, and industry. Singapore’s proactive stance serves as a model for other Southeast Asian nations. 2. Malaysia, Thailand, and Vietnam: These countries rapidly advance their AI capabilities. Malaysia’s National AI Framework aims to integrate AI across various sectors. At the same time, Thailand’s focus on AI is part of its Thailand 4.0 initiative, promoting technology-driven economic transformation. With its strong emphasis on STEM education, Vietnam is nurturing a new generation of AI professionals. 3. Indonesia and the Philippines: These larger economies face unique challenges like infrastructure deficits and digital divide issues. However, both nations are committed to advancing their AI capabilities, recognising the potential for AI to drive economic growth and improve public services. Economic impact on Sri Lanka With its strategic location and burgeoning tech sector, Sri Lanka has the potential to become a significant player in AI. Drawing parallels to Portugal in the 16th century, a small country becoming a powerhouse by leveraging its strategic maritime position and advancements in navigation, Sri Lanka can similarly position itself as a leader in AI by capitalising on its unique advantages. 1. Education and talent development: To become an AI maker, Sri Lanka must invest in education and training. Building a strong AI talent pool through partnerships with universities and international institutions will be crucial. The focus should be on STEM education, specialised AI programs, and fostering a culture of innovation and continuous learning. 2. Investment in R&D: Increased funding for AI research and development is essential. Sri Lanka can benefit from international and public-private partnerships to boost its AI ecosystem. Establishing AI research hubs and innovation centres can attract global talent and foster local expertise. 3. Regulatory frameworks: It will be critical to develop robust regulatory frameworks that promote innovation while ensuring ethical standards. Data protection laws and AI ethics guidelines are essential components of this strategy. Transparent and flexible regulations can create a conducive environment for AI startups and investments. 4. Niche focus: Sri Lanka could focus on niche areas within AI, such as AI applications in agriculture, healthcare, and tourism. Leveraging AI to address specific national challenges can position Sri Lanka as a leader. For instance, AI-driven solutions in agriculture can boost productivity and sustainability. At the same time, AI in healthcare can improve access and quality of care. 5. International collaboration: Given its size and resources, Sri Lanka should seek strategic alliances with leading AI nations. Participation in global AI initiatives and forums can help Sri Lanka stay abreast of the latest developments and integrate best practices. Collaborations with countries like India, which has a robust tech ecosystem, can be mutually beneficial. 6. Economic projections: Embracing AI nationalism can significantly impact Sri Lanka’s GDP and overall economic growth. According to estimates, AI could contribute up to $15.7 trillion to the global economy by 2030, with Southeast Asia poised to gain substantially. Becoming an AI hub for Sri Lanka could increase GDP by several percentage points annually, driven by productivity gains, new business opportunities, and enhanced competitiveness. • GDP growth: AI-driven industries can contribute significantly to GDP growth. For example, advancements in AI could boost sectors like manufacturing, services, and agriculture, leading to higher economic output. • Job creation: While AI will automate specific tasks, it will also create new job opportunities in AI development, data analysis, cybersecurity, and more. Developing a skilled workforce will be critical to harnessing these opportunities. • Foreign investment: A robust AI ecosystem can attract foreign direct investment (FDI). Global tech companies looking for new markets and innovation hubs may invest in Sri Lanka, bringing capital, technology, and expertise. • Export potential: AI-driven products and services can become significant exports. Sri Lanka can position itself as a provider of AI solutions in healthcare, education, and logistics, tapping into global markets. Strategic steps for Sri Lanka To emulate the rise of 16th-century Portugal, Sri Lanka must undertake several strategic steps: 1. Infrastructure development: Invest in digital infrastructure to support AI development. High-speed internet, data centres, and cloud computing capabilities are essential for fostering a robust AI ecosystem. 2. Policy support: Implement supportive government policies, including tax incentives for AI startups, grants for AI research, and streamlined regulatory processes. Policies should also encourage public-private partnerships and international collaborations. 3. Focus on innovation: Foster a culture of innovation by supporting research institutions, startups, and tech hubs. Establishing innovation clusters and AI centres of excellence can drive AI research and development. 4. Global integration: Actively participate in global AI forums and networks. Engaging with international AI communities can facilitate knowledge exchange, collaboration, and access to global markets. 5. Ethical AI development: Ensure that AI development adheres to ethical standards, protecting privacy, security, and human rights. Ethical AI practices can enhance global trust and open up more opportunities for collaboration. 6. Strategic alliances: Form alliances with countries leading in AI research and development. Partnerships with nations like the United States, China, and Europe can provide access to advanced technologies and expertise. AI nationalism represents a pivotal shift in the global economic and technological landscape. As nations vie for dominance in AI, their strategies will shape the future of financial power and geopolitical relations. While AI offers tremendous economic growth and innovation opportunities, it also poses significant challenges. Balancing national interests with global cooperation and ethical considerations will be crucial in navigating this new frontier. As we progress, policymakers, industry leaders, and international bodies must engage in dialogue and collaboration, ensuring that AI advancements benefit humanity while safeguarding national interests. The era of AI nationalism has dawned, and its impact will resonate across the global stage for decades. Each country must decide whether to be an AI maker, leading the charge in innovation and self-reliance, or an AI taker, leveraging global advancements while navigating the risks and dependencies that come with it. The choice of Southeast Asia and Sri Lanka will significantly influence their economic trajectories and roles in the global economy. By embracing AI nationalism and strategically investing in AI technologies, Sri Lanka can transform itself into a powerhouse like 16th-century Portugal. With the right policies, investments, and international collaborations, Sri Lanka can leverage its unique strengths to drive economic growth, enhance global competitiveness, and secure a prosperous future in the AI-driven world. (The writer is a highly regarded entrepreneur, startup investor, business leader, contributor to numerous print and digital media news channels, and an avid observer of the global political landscape, economy, and technological and social developments)

By Thareendra Kalpage In the rapidly evolving landscape...

Lessons from Italy’s Growing Love Affair with Sri Lankan Apparel

Lessons from Italy’s Growing Love Affair with Sri...

Softlogic Stockbrokers and Softlogic Invest triumph at CFA Capital Market Awards 2024

Softlogic Stockbrokers and Softlogic Invest triumph at CFA...

Evolution of the Galaxy Buds Series: A Journey of Listening Innovation

Evolution of the Galaxy Buds Series: A Journey...

Colombo chosen as a telecast centre for the Dawoodi Bohras’ Ashara Mubaraka congregations

Colombo chosen as a telecast centre for the...