Arooj Zulfiqar

Artificial Intelligence (AI) is one of the most demanding and innovative technologies transformed all over the world. "In Pakistan, it shows massive potential to shape the future," Babur Majid, CEO of the National Information Technology Board (NITB), told WealthPK. The AI market in Pakistan is projected to grow by 22.30% (2023-2030), resulting in a market volume of US$2693.00m in 2030, reports Statista. "In recent years, Pakistan has made a significant progress in the field of AI. Both public and private sectors, as well as academic institutions, have recognized its importance and have taken several steps to promote its development," he said. "Under this initiative, the Government of Pakistan established the National Centre for Artificial Intelligence (NCAI) to coordinate AI activities across the country.

"The private sector in Pakistan is actively investing in AI-driven technologies to significantly enhance efficiency, scale up operations, and deliver cutting-edge solutions," he added. During a recent panel discussion titled "Sustainability in the Digital Age: Unlocking AI Potential in Pakistan," panellists emphasized that harnessing the capabilities of AI held the potential to attract substantial foreign direct investment (FDI) to Pakistan and enhance employment opportunities. However, they underscored the need for implementation of enduring regulatory policies to facilitate this growth. Major-General Hafeez-ur-Rehman (retired), Chairman of the Pakistan Telecommunication Authority (PTA), said that creating an AI ecosystem in Pakistan was crucial for which regulatory policies must be developed in consultation with experts.

"One of the key areas where AI is making a tangible impact is agriculture, a sector that is the backbone of Pakistan's economy," said Muhammad Azeem Tariq, Senior Scientific Officer at the National Agricultural Research Centre. "AI has the potential to revolutionize agriculture in Pakistan by increasing productivity, reducing inputs, and improving decision-making. The AI-powered tech can enable farmers to do more with less while improving yield quality and value chain. According to a report by the Agriculture Information Bank, AI can assist in confronting one of humanity's greatest upcoming challenges of feeding an additional two billion people by 2050 as the UN projections record only 4% of extra land will be available for cultivation.

"Despite improvement in AI, Pakistan also faces particular challenges. One of the key challenges is the availability and quality of data. AI algorithms need large amounts of data to train and operate effectively. To overcome this hurdle, efforts are required to improve data collection and storage infrastructure," said Babur Majid. "Another challenge is the need for skilled professionals in AI. There is a shortage of AI experts. To solve this, the universities and training centres should present AI-focused software and courses to promote a talented collection of AI specialists," he added.

Credit: INP-WealthPk