Recent advances in artificial intelligence have spurred a new wave of interest in the commercial opportunities of these technologies. As AI becomes standard in the financial services, it also offers the opportunity to reduce the climate finance gap in emerging markets.
Multilateral development banks such as the World Bank and other development financial institutions can accelerate the adoption of AI to raise their level of climate related investments and catalyze increased private climate finance flows.
AI tools have become adept at using growing volumes of data, often unstructured or incomplete, to increasingly support, simplify, and in many cases, automate decision-making. AI tools are now advancing beyond predictive modeling to producing new content through generative AI tools, such as ChatGPT.