Reeves warns impact of Iran war on economy will persist once hostilities end
The impact of the Iran war on inflation and economic growth will linger even if an end to the conflict is found, Rachel Reeves and...
Category : Finance
AI May Widen Inequality Before Gains Emerge, Edun Warns By BUKOLA ARO-LAMBO Nigeria’s minister of finance and coordinating minister of the economy, Wale Edun, has cautioned that the rapid rise of artificial intelligence could deepen global inequality in the near term, even as the technology holds long term promise for improving efficiency and economic outcomes. Speaking at the G24 policy discussions in Washington, Edun who also chairs the G24, said the world is entering a technology driven era that will increasingly be shaped by artificial intelligence, but warned that the distributional effects may not be evenly felt across countries or income groups. “The era we are in is one that clearly is going to be dominated by AI,” he said, adding that while the technology could eventually help close development gaps, its initial impact may be to widen them. He noted that rather than delivering an immediate leapfrog effect for developing economies, AI could reinforce existing structural inequalities, particularly between advanced economies with stronger digital infrastructure and poorer countries still struggling with basic systems of data, automation and connectivity. The caution adds to a growing policy debate among emerging market policymakers about whether frontier technologies will accelerate convergence or deepen divergence in global income levels. However, Edun also pointed to potential domestic gains if countries are able to harness digital tools effectively, particularly in the area of public finance and revenue mobilisation. He said improvements in tax collection and government revenue as a share of gross domestic product would increasingly depend on automation, digitisation and emerging AI driven systems. According to him, efforts to broaden the tax base and improve efficiency in public administration are already being reshaped by technology, with AI expected to play a growing role in reducing leakages and improving compliance. In his view, while the early stages of AI adoption may be disruptive, developing economies that invest in digital infrastructure and institutional capacity could eventually use the technology to strengthen governance and support long term growth.
by D.William
Nigeria’s minister of finance and coordinating minister of the economy, Wale Edun, has cautioned that the rapid rise of artificial intelligence could deepen global inequality...
The Africa We Build summit and Kenya’s bold infrastructure blueprint
by D.William
The Africa We Build summit and Kenya’s bold infrastructure blueprint – African Business The Africa We Build summit and Kenya’s bold infrastructure blueprint – African...
Finance numbers on Redistricting efforts released by the Virginia Public Access Project
by D.William
HARRISONBURG, Va. (WHSV) – We are under a week away from the vote on the redistricting referendum, and the Virginia Public Access Project has released...
Finance Undersecretary: Committed to Strengthening the National Economy, Implementing Reform Programs
by D.William
Finance Undersecretary: Committed to Strengthening the National Economy, Implementing Reform Programs
Home Economy Finance...
How The Alphabet (GOOGL) Investment Story Is Shifting With AI Hopes And Legal Risks
by D.William
Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Alphabet’s modeled fair value...
Egypt’s gold investment funds record net assets of EGP 9.28bn in March 2026: FRA
by D.William
Egypt’s gold investment funds recorded total net assets of EGP 9.28bn in March 2026, according to the latest report by the Financial Regulatory Authority (FRA),...
FCA sets out open finance proposals it says could support mortgage access
by D.William
“[This] could translate into more realistic borrowing limits and better-matched products” For the mortgage market, the regulator said it will examine how open...
DSW appoints new corporate finance associate
by D.William
Dow Schofield Watts has appointed James Clarkson as an associate within its Yorkshire and North East corporate finance team. Clarkson joins the Leeds-based office from...
Why You Keep Making Money Mistakes: Finance Expert Ross Levin Explains Using Classic TV Show Analogies
by D.William
Classic television programmes are primarily created for entertainment, but they can also reflect predictable patterns in human decision-making. According to financial adviser Ross Levin, fictional...