With the fast adoption of artificial intelligence (AI) globally and the spread of emerging technologies, market dominance may widen technological divides, leaving many developing nations at risk of missing out on the benefits of AI.
This is according to the United Nations Conference on Trade and Development (UNCTAD), which revealed that AI market could reach $4.8 trillion by 2033, and could impact 40 per cent of jobs worldwide.
UNCTAD revealed this in its Technology and Innovation Report 2025, a catalogue of policies countries should consider adopting to align AI development with their socio-economic needs.
According to the report, while AI has a bright future, it risks creating new divides as the benefits threaten to be unevenly distributed among regions across the globe. It warned that while AI is transforming economies and creating opportunities, it could lead to greater inequality.
The report noted that AI could be a powerful tool for progress, but was not inherently inclusive, stressing that countries should act immediately by investing in digital infrastructure, building capabilities and strengthening AI governance to harness AI’s potential for sustainable development.
UNCTAD noted that it was becoming a prominent force in digital transformation. However, access to AI infrastructure and expertise remained concentrated in a few economies. It disclosed that just 100 firms, mainly in the U.S. and China, accounted for 40 per cent of global corporate R&D spending.
According to the report, leading tech giants, such as Apple, Nvidia and Microsoft, each have a market value of around $3 trillion, rivalling the gross domestic product of the whole African continent.
The report observed that AI was redefining economic opportunities, placing technology, innovation and knowledge-intensive services at the heart of national development strategies.
On industrial commitment, UNCTAD explained that similar to the environmental, social and governance framework, an AI equivalent public disclosure mechanism could improve accountability, translating global commitments into impactful outcomes.
