To unlock the potential of artificial intelligence (AI) in developing nations, entrepreneurs need robust support in skills, finance, and ecosystems, as highlighted by UNCTAD. Many micro, small, and medium enterprises (MSMEs) are utilizing AI for diverse functions, yet adoption remains inconsistent due to limited understanding of AI benefits and implementation strategies. Essential for fostering investment in AI are clear governance and sector-specific regulations that promote innovation while ensuring responsibility. Access to affordable technology, including open-source platforms, is crucial for reducing barriers. Initiatives like UNCTAD’s Empretec centers provide targeted support, helping entrepreneurs identify AI use cases and develop necessary skills through training and mentoring. Industry leaders emphasize a phased approach to enhance in-house capabilities gradually. The UNCTAD report recommends a comprehensive Entrepreneurship Policy Framework for AI, aimed at empowering governments to create conducive environments for effective AI adoption that can drive business growth in developing countries.
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