New Zealand launches national AI strategy to boost economy
(MENAFN) New Zealand has introduced its inaugural national Artificial Intelligence (AI) Strategy aimed at enhancing productivity and stimulating economic growth.
Science, Innovation, and Technology Minister Shane Reti announced the plan on Tuesday, highlighting projections that AI could add as much as 76 billion New Zealand dollars (approximately 45.76 billion U.S. dollars) to the country’s gross domestic product by 2038.
Despite the promising outlook, the minister pointed out that New Zealand currently trails behind many other developed nations in AI readiness, with a significant number of businesses yet to adopt the technology.
The government’s strategy focuses on promoting AI uptake by minimizing regulatory hurdles, providing clear guidelines, and supporting responsible innovation, Reti explained.
He emphasized that maintaining a light regulatory touch is intended to build business confidence, enabling private sector innovation that can drive new products and services, boost efficiency, and improve decision-making processes.
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