Uzair bin Farid

Pakistan needs to invest in high-speed internet connectivity and cloud infrastructure to support the development of Artificial Intelligence (AI) applications to fully exploit its benefits, said an expert. AI is rapidly transforming various sectors, from healthcare and finance to transportation and education. Pakistan, like many other countries, has recognised the potential of AI and is seeking ways to capitalise on this emerging market.

In a conversation with WealthPK, Dr Ijaz Ali, a research economist at the Centre for Business and Economic Research (CBER), said that one of the main opportunities for Pakistan in the AI market is the availability of a large pool of young skilled professionals. “Pakistan has a strong tradition in science and engineering, with many universities offering courses in computer science and related fields. This has led to a pool of talented professionals who can work in the AI industry, either in Pakistan or abroad,” he said.

Another opportunity for Pakistan in the AI market is the availability of vast amounts of data. “With over 220 million people, Pakistan has a large population that generates a significant amount of data. This data can be used for training AI algorithms and developing new applications, particularly in areas such as healthcare, finance, and agriculture,” Dr Ijaz said. However, he said, some challenges must be addressed for Pakistan to fully capitalise on the AI market.

Dr Ijaz said that there is a need for investment in research and development to support the development of new AI algorithms and applications. He said the lack of regulation and governance is another challenge that may prove difficult for the government. The research economist stressed the need for clear regulations and guidelines on the development and deployment of the AI applications. “This will help ensure that AI is developed and used in a responsible and ethical manner, while also addressing concerns around privacy, security, and bias,” he added.

He said that in order to capitalise on the AI market, Pakistan needs to take a multi-pronged approach. This includes investing in infrastructure and research and development, developing a skilled workforce, and creating a supportive policy environment that promotes innovation and entrepreneurship. “Pakistan can also leverage its geographic location and cultural ties to establish partnerships with other countries in the region, particularly China, which is a leader in the AI market,” he added. Dr Ijaz said the AI market represents a significant opportunity for Pakistan to drive economic growth and development.“By taking a strategic and comprehensive approach, Pakistan can position itself as a leader in this emerging market,” he added.

Credit: Independent News Pakistan-WealthPk