Finance minister highlights AI capacity building for developing nations at G7

South Korea’s Finance Minister Koo Yun-cheol called for stronger artificial intelligence capacity building in developing nations to drive sustainable growth during the G7 finance ministers and central bank governors’ meeting in Paris on Tuesday. Speaking at the event, where South Korea joined India, Brazil, and Kenya as invited guests, Koo highlighted AI and digital technologies as critical tools for accelerating productivity in emerging economies. He stressed the need for coordinated efforts among governments, multilateral development banks, and the private sector to enhance AI-related capabilities. Koo urged G7 nations to make this a key priority, framing it as essential for reducing global economic disparities that threaten stability. Beyond AI, Koo warned that persistent global economic imbalances pose risks to the broader economy, calling for policy measures to address these gaps. On the meeting’s sidelines, he met with German Finance Minister Lars Klingbeil, where both sides agreed to deepen cooperation on supply chain diversification and South Korea’s role in mitigating global imbalances. In a separate discussion with Canadian Finance Minister Francois-Philippe Champagne, Koo expressed hope for expanded bilateral collaboration in energy, defense, and other advanced industries. The meetings followed broader talks on addressing the prolonged Middle East crisis and other pressing global challenges.