Finance minister highlights AI capacity building for developing nations at G7

Korea's finance minister stressed the importance of building artificial intelligence (AI) capacity in developing countries to achieve sustainable growth during the Group of Seven (G7) finance ministers and central bank governors' meeting, his office said Wednesday.

Finance Minister Koo Yun-cheol made the remarks at the G7 finance ministers and central bank governors' meeting held in Paris on Tuesday (Paris time), where Korea was invited along with India, Brazil and Kenya, according to the Ministry of Finance and Economy.

During the meeting, Koo said AI and digital technologies play a key role in accelerating productivity growth in developing countries, noting that governments, multilateral development banks and the private sector need to work closely together to strengthen related capabilities.

The finance minister urged the G7 nations to make AI capacity building for developing countries one of their key agendas.

Koo also pointed out that global economic imbalances pose risks to the global economy, noting that all countries need to make policy efforts to address such disparities.

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