New Zealand Launches First National AI Strategy
(MENAFN) On Tuesday, New Zealand introduced its inaugural nationwide artificial intelligence (AI) strategy, aimed at enhancing productivity and stimulating economic expansion, according to state media.
Science, Innovation, and Technology Minister Shane Reti revealed the eagerly anticipated plan, emphasizing that AI could add up to $45.76 billion to the nation's GDP by 2038, as reported by a news outlet.
Named Investing with Confidence, the strategy has received positive reactions from the business community but has also drawn criticism from opponents who warn that it sets a "dangerous path forward" and is "worryingly light" on ethical issues.
Highlighting that Wellington is currently trailing behind other developed economies in AI preparedness, Reti pointed out that many companies within the country have yet to adopt the technology.
The government's strategy, Reti explained, aims to encourage AI implementation by minimizing regulatory obstacles, providing transparent guidelines, and promoting responsible innovation.
"Artificial intelligence represents one of the most significant technological opportunities of our time," he stated, adding, "For New Zealand, embracing AI is not merely an option - it is essential."
The plan underscores a minimalistic regulatory framework designed to instill confidence in businesses to invest in AI technologies, while emphasizing the private sector's role in driving innovation that can generate new products and services, boost efficiency, and enhance decision-making processes.
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