Artificial intelligence (AI) is no longer the stuff of science fiction; it is rapidly reshaping economies around the world.” On the one hand, “smart” machines can boost productivity by reducing human error; optimizing complex design, production, and distribution processes; improving the delivery of public services; and facilitating decision-making. On the other hand, there are concerns about the distributional impacts of AI between and within countries. Advances in AI could automate many jobs and depress wages. There are also concerns about competition—namely, that large technology companies headquartered in a few advanced economies have an unfair advantage in creating and deploying AI.

AI is unleashing a new wave of digitalization. And its potential economic impacts are manifold. The World Bank’s 2026 World Development Report (WDR) will examine the promise and pitfalls of AI for economic development and what developing countries can do to enhance the value of AI while mitigating adverse effects. Through a collaboration between the Growth Academy, hosted by the University of Chicago, and the World Bank, a brainstorming session with leading scholars and practitioners will be held in Chicago on November 21st to set the ball rolling on the 2026 WDR.