Fulfilling the Promise of the Digital Age
Yerevan, Armenia – The World Innovation, Technology and Services Alliance (WITSA) has unveiled its latest position paper, titled “The WITSA Global AI Ecosystem Network: Building Sustainable Growth in the Tech Industry” on the final day of the 28th World Congress on Innovation and Technology (WCIT) 2024 in Yerevan. The paper provides a strategic framework for industry leaders, policymakers, and innovators to understand and leverage artificial intelligence (AI) as a catalyst for sustainable business growth and technological innovation.
In a rapidly evolving global tech landscape, AI has emerged as a transformative force. The WITSA AI Position Paper highlights the critical challenges and opportunities that come with AI's integration into various sectors and advocates for global collaboration across governments, academia, technology companies, and civil society. The WITSA Global AI Ecosystem Network aims to unify efforts in driving ethical, responsible AI development that prioritizes long-term societal impact and sustainability.
“We are at a critical juncture where AI has the potential to revolutionize every aspect of life, from smart cities to healthcare, education, and business,” said Dato' Dr. Sean Seah, Chairman of WITSA. “The WITSA AI Position Paper serves as a roadmap for navigating the complexities of the AI ecosystem. It emphasizes the importance of collaboration among industry leaders, government officials, and policymakers to co-create frameworks that support ethical AI initiatives. Through constructive dialogues and sharing of best practices, we can collectively address global challenges and drive sustainable development.”
WITSA Deputy Chairman Robert Janssen who is also WITSA’s AI Taskforce Chairman, emphasized the importance of collaboration in shaping the future AI ecosystem: “The WITSA Global AI Ecosystem Network brings together diverse stakeholders to ensure that AI innovation goes hand in hand with social responsibility and sustainability. Through this network, we can foster a global culture of innovation that is inclusive, ethical, and future-focused.
“The tech industry is at a crossroads, and it’s critical that we address AI development through a multifaceted approach, one that encourages innovation while maintaining a strong ethical foundation. By focusing on sustainable growth, we ensure that AI becomes a tool for societal improvement rather than a source of division.”
The WITSA Global AI Ecosystem Network seeks to establish a platform for knowledge sharing, policy alignment, and partnership development across industries, enabling stakeholders to navigate the complexities of AI implementation and governance.
Dato’ Dan E. Khoo, CEO of WITSA added: “While Artificial Intelligence holds an immense potential to reshape industries and economies, its true power lies in how we collaborate and use it for the greater good. This position paper is not just a roadmap; it is a call to action for leaders, innovators, and policymakers to unite around AI’s potential to create positive and sustainable change.”
The paper also provides insights into the regulatory landscape of AI, outlining the need for balanced governance that encourages innovation while safeguarding ethical standards. As AI continues to permeate multiple industries, ensuring effective governance is paramount.
