CABEI supports Dominican Republic in the development of National Artificial Intelligence Strategy

Santo Domingo, October 11th, 2023.- The Central American Bank for Economic Integration (CABEI), in coordination with the Executive Directorate of the Dominican Republic's Innovation Cabinet, supported the development of the Artificial Intelligence Strategy by defining the axes and objectives and identifying the opportunities, actions and conditions necessary for its implementation.

This strategic document is part of the country's National Innovation Policy 2030, providing a solid framework to boost research and development, foster collaboration between the public and private sectors, as well as promote the formation of highly trained human talent in areas of science and technology.

CABEI’s Director for the Dominican Republic, Hostos Rizik, participated in the launch and highlighted the use of Artificial Intelligence as a tool to move the region towards a common welfare ecosystem for all countries where data, talent and solutions to the region's main challenges can be shared. He also reaffirmed the multilateral's commitment to help the strategy achieve its objectives and assured that it will continue to support the Dominican Republic by creating the ideal conditions for it to continue moving forward at a good pace.

Artificial intelligence represents an economic and commercial potential, where it is projected that by 2030, this technology can increase up to 16% of the world's GDP, equivalent to US$15.7 trillion. Of this revenue, it is estimated that US$500 billion will be generated in Latin America, making artificial intelligence the "largest commercial opportunity in the world economy".