AI should be used for humanity: Minister Rana

By TRN Online, Kathmandu, Oct 2: Minister of Foreign Affairs Dr. Arzu Rana urged countries to leverage from this technology in areas of commerce and professions, including education, health, good governance, economic development and security. 

Addressing to a summit, 2nd Asia Cooperration Dialog (ACD) Business Forum organized under the leadership of Federation of Nepalese Chamber of Commerce and Industry , Doha today Dr Rana highlighted AI's role in tailoring products and services by analysing customer data and preferences, using AI-driven predictive analytics to assess market trends and consumer-focused needs, making informed strategic decisions based on customer choices and optimisation of resource, and improving operational efficiency.

Additionally, she underscored its use in reducing operational costs and promote smart business models, which increase competitiveness for innovation. 

Dr Rana however highlighted several associated risks and challenges, including concerns about data privacy, job displacement, misinformation, deepfakes and data manipulation, and the growing digital divide. 

On the occasion, Minister Dr Rana urged the world community to invest in Nepal, emphasising that the country offers an investment favourable climate as it has entered an era of peace, stability and prosperity following constitution promulgation.   

"Recently, we have amended over a dozens of laws and streamlined processes to foster a conducive investment environment in various sectors. Nepal has prioritised energy, manufacturing, tourism, infrastructure development, education, health, and agriculture as priority sectors of investment," she said. 

Underscoring Nepal's huge potentials for business partnerships in AI field, Dr Rana said, "I take this opportunity to call on business communities present here to explore avenues of investment in Nepal and expand business partnerships with Nepali counterparts."     

She also highlighted that Nepal has published the AI concept paper and is now drafting the AI policy and AI strategy, while preparing to develop a national data strategy, which is essential for data governance and AI.

"Nepal has drafted the e-governance blueprint, which includes more than 40 action items essential for digital transformation."