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Michael Spence, who was awarded the Nobel prize in Economic Sciences in 2001, shared his views during an interaction with students and faculty at the Bennett University in Greater Noida on Monday.
Spence, who is a professor and dean emeritus at Stanford University, said at the summit on Saturday that Western economies are unlikely to gain more from the transition to generative AI than developing nations.
The continent has three priorities if it is to halt its slide to the global margins, writes Mcebisi Jonas.
Generative AI: “We do have serious supply-side constraints. They are probably not as evident or important here in India, which is growing at a high rate and has the highest potential growth of any major economy in the world,” he said.
(This story has not been edited by THE WEEK and is auto-generated from a PTI