Data: The Lifeblood of AI Transformation and the Challenges We Face

In the digital age, data has become the lifeblood of Artificial Intelligence (AI) transformation, catalyzing advancements and innovations across various sectors. However, this essential resource also presents numerous challenges that must be addressed to harness its full potential ethically and sustainably. This session will delve into key topics such as data as a socioeconomic divider, the morality of data monetization, the right to be forgotten, reducing the environmental costs of training AI systems, the role of synthetic data, and the global AI race. Furthermore, we will discuss the pivotal roles of governments, regulators, local authorities, the education sector, and citizens in managing these challenges. The issue of data accessibility and literacy is crucial in either widening or bridging socioeconomic divides. The session will examine how disparities in data access and literacy contribute to these divides and propose strategies for inclusive data policies. The ethics of data monetization and the right to be forgotten will be critically evaluated to foster a more ethical data economy that respects user privacy. Additionally, we will explore the environmental implications of AI development, advocating for sustainable practices. The potential and risks of synthetic data, particularly for less technologically advanced countries, will also be discussed. Finally, we will analyze the strategies employed by different countries in the global AI race to understand which approaches have been most successful. This comprehensive discussion will contribute to the achievement of several Sustainable Development Goals (SDGs), fostering a more inclusive and equitable digital future. The session will also examine the regulatory and policy-enabling environment necessary to address data-oriented risks, with particular reference to less developed nations.